Rafferty Asset Management LLC Sells 2,629 Shares of Mid-America Apartment Communities, Inc. $MAA

Key Points

• Rafferty Asset Management LLC reduced its holdings in Mid-America Apartment Communities by 17.1%, owning 12,746 shares valued at $2.14 million after selling 2,629 shares in the first quarter.
• Institutional investors own 93.60% of Mid-America Apartment Communities, reflecting significant interest from the investment community.
• Brokerages have provided mixed ratings for Mid-America Apartment Communities, with the average rating being "Hold" and an average price target of $162.79.

Rafferty Asset Management LLC decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,746 shares of the real estate investment trust's stock after selling 2,629 shares during the period. Rafferty Asset Management LLC's holdings in Mid-America Apartment Communities were worth $2,136,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MAA. NewEdge Advisors LLC lifted its position in Mid-America Apartment Communities by 117.7% in the fourth quarter. NewEdge Advisors LLC now owns 973 shares of the real estate investment trust's stock worth $150,000 after purchasing an additional 526 shares during the period. Lido Advisors LLC increased its stake in Mid-America Apartment Communities by 90.9% in the fourth quarter. Lido Advisors LLC now owns 3,142 shares of the real estate investment trust's stock valued at $486,000 after acquiring an additional 1,496 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Mid-America Apartment Communities during the fourth quarter worth about $699,000. Mercer Global Advisors Inc. ADV boosted its holdings in Mid-America Apartment Communities by 14.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 42,616 shares of the real estate investment trust's stock valued at $6,587,000 after purchasing an additional 5,370 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Mid-America Apartment Communities by 149.6% during the fourth quarter. Ameriprise Financial Inc. now owns 129,911 shares of the real estate investment trust's stock valued at $20,080,000 after purchasing an additional 77,858 shares in the last quarter. Institutional investors own 93.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MAA. JMP Securities raised their target price on Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 22nd. Wall Street Zen raised Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Sunday, August 10th. Raymond James Financial downgraded shares of Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Morgan Stanley dropped their target price on shares of Mid-America Apartment Communities from $177.00 to $169.00 and set an "overweight" rating for the company in a research report on Wednesday, August 13th. Finally, The Goldman Sachs Group downgraded shares of Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price target for the company. in a report on Friday, July 11th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $162.79.

Mid-America Apartment Communities Price Performance

MAA traded down $0.49 during midday trading on Thursday, hitting $142.92. The company had a trading volume of 194,274 shares, compared to its average volume of 892,318. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.10 and a current ratio of 0.10. The company has a market capitalization of $16.73 billion, a PE ratio of 29.41, a P/E/G ratio of 3.90 and a beta of 0.78. Mid-America Apartment Communities, Inc. has a twelve month low of $137.32 and a twelve month high of $173.38. The firm's 50-day simple moving average is $145.99 and its 200-day simple moving average is $154.34.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate of $2.14 by $0.01. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The business had revenue of $549.90 million for the quarter, compared to analysts' expectations of $552.19 million. During the same period in the prior year, the firm earned $2.22 earnings per share. Mid-America Apartment Communities's revenue was up .6% compared to the same quarter last year. Mid-America Apartment Communities has set its Q3 2025 guidance at 2.080-2.240 EPS. FY 2025 guidance at 8.650-8.890 EPS. Equities research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.0%. Mid-America Apartment Communities's payout ratio is currently 124.69%.

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.