Leeward Investments LLC MA Sells 2,407 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Leeward Investments LLC MA cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,959 shares of the real estate investment trust's stock after selling 2,407 shares during the period. Leeward Investments LLC MA owned about 0.06% of Mid-America Apartment Communities worth $11,556,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Checchi Capital Advisers LLC bought a new position in Mid-America Apartment Communities during the first quarter valued at $277,000. Principal Financial Group Inc. raised its position in shares of Mid-America Apartment Communities by 1.5% in the first quarter. Principal Financial Group Inc. now owns 192,228 shares of the real estate investment trust's stock worth $32,214,000 after buying an additional 2,800 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Mid-America Apartment Communities in the first quarter worth $2,863,000. Private Trust Co. NA raised its position in Mid-America Apartment Communities by 120.1% during the first quarter. Private Trust Co. NA now owns 854 shares of the real estate investment trust's stock valued at $143,000 after purchasing an additional 466 shares in the last quarter. Finally, Aaron Wealth Advisors LLC purchased a new stake in Mid-America Apartment Communities during the first quarter valued at about $234,000. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA traded down $0.38 during midday trading on Monday, hitting $150.09. The company had a trading volume of 1,262,341 shares, compared to its average volume of 798,072. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 3.85 and a beta of 0.75. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11. The company has a fifty day moving average of $154.78 and a two-hundred day moving average of $156.50. Mid-America Apartment Communities, Inc. has a 12-month low of $137.51 and a 12-month high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.04. The company 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%. Mid-America Apartment Communities's quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.22 EPS. On average, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 4.04%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 126.25%.

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the transaction, the executive vice president owned 3,012 shares of the company's stock, valued at $502,552.20. This represents a 5.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MAA. Barclays raised their price target on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. JMP Securities raised their price target on Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a research report on Thursday, May 22nd. Scotiabank lowered their price target on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a research report on Friday, June 13th. Wall Street Zen downgraded Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Finally, Truist Financial reduced their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $169.76.

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.