Mid-America Apartment Communities, Inc. (NYSE:MAA) Holdings Cut by KBC Group NV

KBC Group NV decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 33.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,228 shares of the real estate investment trust's stock after selling 18,663 shares during the period. KBC Group NV's holdings in Mid-America Apartment Communities were worth $6,239,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advisors Wealth Management LLC grew its position in Mid-America Apartment Communities by 6.2% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 6,988 shares of the real estate investment trust's stock worth $1,171,000 after purchasing an additional 411 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in Mid-America Apartment Communities by 1.6% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 362,264 shares of the real estate investment trust's stock worth $60,708,000 after purchasing an additional 5,650 shares during the last quarter. Highland Capital Management LLC grew its position in Mid-America Apartment Communities by 5.1% in the 1st quarter. Highland Capital Management LLC now owns 2,058 shares of the real estate investment trust's stock worth $345,000 after purchasing an additional 100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Mid-America Apartment Communities by 8.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,239 shares of the real estate investment trust's stock worth $3,026,000 after purchasing an additional 1,478 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Mid-America Apartment Communities by 7.7% in the first quarter. Illinois Municipal Retirement Fund now owns 47,978 shares of the real estate investment trust's stock valued at $8,040,000 after acquiring an additional 3,416 shares in the last quarter. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Price Performance

NYSE:MAA traded up $1.26 during trading hours on Friday, reaching $150.47. 403,534 shares of the company's stock were exchanged, compared to its average volume of 796,208. The company has a market capitalization of $17.61 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 3.85 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 12 month low of $137.51 and a 12 month high of $173.38. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82. The business's 50-day simple moving average is $154.78 and its two-hundred day simple moving average is $156.45.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, beating the consensus estimate 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 25.70% and a return on equity of 9.19%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.22 EPS. Sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be given a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 annualized dividend and a dividend yield of 4.03%. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 126.25%.

Analyst Ratings Changes

Several research analysts have recently issued reports on MAA shares. JMP Securities increased their price objective on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a report on Thursday, May 22nd. Scotiabank decreased their price objective on shares of Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating for the company in a report on Friday, June 13th. Truist Financial decreased their price objective on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Barclays increased their price objective on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Finally, Wall Street Zen cut shares of Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $169.76.

Insider Activity at Mid-America Apartment Communities

In related news, EVP Amber Fairbanks sold 173 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total value of $28,865.05. Following the completion of the sale, the executive vice president owned 3,012 shares in the company, valued at approximately $502,552.20. This represents a 5.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $149.93, for a total transaction of $396,264.99. Following the completion of the sale, the chief executive officer owned 319,813 shares of the company's stock, valued at approximately $47,949,563.09. This trade represents a 0.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,861 shares of company stock valued at $431,607. 1.20% of the stock is owned by insiders.

Mid-America Apartment Communities Company Profile

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.