Principal Financial Group Inc. Sells 20,293 Shares of Mid-America Apartment Communities, Inc. $MAA

Key Points

• Principal Financial Group reduced its stake in Mid-America Apartment Communities by 11.3% in the first quarter, selling 20,293 shares and leaving it with 158,619 shares worth about $19.37 million.
• Analyst sentiment remains mixed: the stock has a consensus rating of Hold with an average target price of $145.25, though several firms recently raised price targets and issued buy or outperform ratings.
• Mid-America Apartment Communities reported strong quarterly earnings of $2.13 per share, well above estimates, and also announced a quarterly dividend of $1.53 per share, implying a 4.7% annualized yield.

Principal Financial Group Inc. decreased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 11.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 158,619 shares of the real estate investment trust's stock after selling 20,293 shares during the quarter. Principal Financial Group Inc. owned approximately 0.14% of Mid-America Apartment Communities worth $19,371,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Algebris UK Ltd. grew its stake in shares of Mid-America Apartment Communities by 27.5% during the fourth quarter. Algebris UK Ltd. now owns 132,098 shares of the real estate investment trust's stock worth $18,358,000 after purchasing an additional 28,528 shares during the period. BNP Paribas Financial Markets boosted its holdings in Mid-America Apartment Communities by 29.5% during the fourth quarter. BNP Paribas Financial Markets now owns 246,786 shares of the real estate investment trust's stock worth $34,281,000 after buying an additional 56,224 shares during the last quarter. Norges Bank bought a new position in Mid-America Apartment Communities during the fourth quarter worth about $750,603,000. Nomura Asset Management Co. Ltd. grew its position in shares of Mid-America Apartment Communities by 4.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 216,565 shares of the real estate investment trust's stock worth $30,083,000 after buying an additional 8,724 shares during the period. Finally, CWM LLC grew its position in shares of Mid-America Apartment Communities by 17.3% during the 4th quarter. CWM LLC now owns 132,440 shares of the real estate investment trust's stock worth $18,397,000 after buying an additional 19,512 shares during the period. 93.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MAA. Weiss Ratings upgraded shares of Mid-America Apartment Communities from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday. Citigroup reissued a "market outperform" rating on shares of Mid-America Apartment Communities in a research report on Wednesday, June 10th. Truist Financial boosted their price target on shares of Mid-America Apartment Communities from $136.00 to $146.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. Mizuho upped their price objective on shares of Mid-America Apartment Communities from $148.00 to $152.00 and gave the company an "outperform" rating in a research report on Wednesday, June 10th. Finally, Scotiabank raised their price objective on Mid-America Apartment Communities from $129.00 to $137.00 and gave the stock a "sector underperform" rating in a research note on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $145.25.

Insider Buying and Selling

In other news, Director Tamara D. Fischer purchased 1,100 shares of Mid-America Apartment Communities stock in a transaction on Thursday, May 21st. The stock was purchased at an average price of $128.55 per share, with a total value of $141,405.00. Following the transaction, the director directly owned 1,100 shares in the company, valued at $141,405. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $131.56 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.13 and a current ratio of 0.13. Mid-America Apartment Communities, Inc. has a 52 week low of $120.30 and a 52 week high of $153.93. The company's 50 day moving average price is $134.49 and its two-hundred day moving average price is $131.89. The company has a market capitalization of $15.31 billion, a P/E ratio of 39.87 and a beta of 0.74.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $2.13 earnings per share for the quarter, beating the consensus estimate of $0.83 by $1.30. Mid-America Apartment Communities had a net margin of 17.60% and a return on equity of 6.61%. The company had revenue of $553.73 million during the quarter, compared to analysts' expectations of $555.75 million. During the same quarter in the prior year, the company earned $2.20 earnings per share. The business's quarterly revenue was up .8% compared to the same quarter last year. Mid-America Apartment Communities has set its Q2 2026 guidance at 2.000-2.120 EPS and its FY 2026 guidance at 8.370-8.690 EPS. On average, analysts expect that Mid-America Apartment Communities, Inc. will post 8.51 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a $1.53 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.12 annualized dividend and a yield of 4.7%. Mid-America Apartment Communities's payout ratio is presently 185.45%.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc NYSE: MAA is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA's portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.

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