Capital Investment Advisors LLC Sells 52,282 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Capital Investment Advisors LLC lowered its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 89.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,202 shares of the real estate investment trust's stock after selling 52,282 shares during the quarter. Capital Investment Advisors LLC's holdings in Mid-America Apartment Communities were worth $1,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of MAA. IFP Advisors Inc increased its holdings in shares of Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 68 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Mid-America Apartment Communities by 0.6% in the 4th quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust's stock worth $1,704,000 after buying an additional 69 shares in the last quarter. Huntington National Bank lifted its holdings in Mid-America Apartment Communities by 6.4% in the 4th quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust's stock valued at $181,000 after purchasing an additional 70 shares in the last quarter. Keybank National Association OH lifted its holdings in shares of Mid-America Apartment Communities by 0.9% during the 4th quarter. Keybank National Association OH now owns 9,171 shares of the real estate investment trust's stock worth $1,418,000 after acquiring an additional 85 shares during the period. Finally, Sandy Spring Bank lifted its holdings in shares of Mid-America Apartment Communities by 25.2% during the 4th quarter. Sandy Spring Bank now owns 447 shares of the real estate investment trust's stock worth $69,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Down 1.1%

Shares of MAA stock traded down $1.67 during mid-day trading on Wednesday, reaching $150.19. 1,399,976 shares of the company were exchanged, compared to its average volume of 765,293. Mid-America Apartment Communities, Inc. has a fifty-two week low of $136.85 and a fifty-two week high of $173.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market capitalization of $17.58 billion, a P/E ratio of 33.53, a P/E/G ratio of 3.72 and a beta of 0.78. The business's 50 day simple moving average is $157.15 and its 200 day simple moving average is $157.81.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.04. The business had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The business's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.22 earnings per share. Research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a dividend of $1.515 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 dividend on an annualized basis and a yield of 4.03%. Mid-America Apartment Communities's payout ratio is currently 126.25%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Mizuho dropped their target price on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Raymond James downgraded shares of Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and dropped their target price for the stock from $185.00 to $175.00 in a research report on Thursday, May 15th. Wall Street Zen raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Robert W. Baird increased their target price on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Finally, Truist Financial dropped their target price on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $169.50.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the transaction, the executive vice president now owns 3,012 shares of the company's stock, valued at approximately $502,552.20. This trade represents a 5.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the sale, the chief executive officer now owns 319,813 shares of the company's stock, valued at $47,949,563.09. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,313 shares of company stock worth $1,171,707. 1.20% of the stock is owned by insiders.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.