Royal Bank of Canada Sells 26,329 Shares of Mid-America Apartment Communities, Inc. $MAA

Key Points

• Royal Bank of Canada reduced its stake in Mid-America Apartment Communities by 7.4%, owning approximately 0.28% of the company with shares valued at $55.46 million.
• Mid-America Apartment Communities recently reported earnings of $2.15 per share, exceeding analysts' expectations, while also cutting its dividend to $1.0625 for the upcoming payment, resulting in an annualized yield of 3.0%.
• Analysts have adjusted price targets for Mid-America Apartment Communities, with the consensus target set at $162.79, and 10 analysts rating the stock as a "Hold."

Royal Bank of Canada decreased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 330,972 shares of the real estate investment trust's stock after selling 26,329 shares during the quarter. Royal Bank of Canada owned about 0.28% of Mid-America Apartment Communities worth $55,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. APG Asset Management US Inc. grew its holdings in Mid-America Apartment Communities by 9.7% in the first quarter. APG Asset Management US Inc. now owns 3,069,507 shares of the real estate investment trust's stock worth $514,081,000 after purchasing an additional 271,507 shares during the period. Northern Trust Corp boosted its position in shares of Mid-America Apartment Communities by 4.8% during the 1st quarter. Northern Trust Corp now owns 1,952,778 shares of the real estate investment trust's stock worth $327,247,000 after purchasing an additional 89,370 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Mid-America Apartment Communities by 38.3% in the 1st quarter. Deutsche Bank AG now owns 1,695,832 shares of the real estate investment trust's stock valued at $284,188,000 after buying an additional 469,806 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Mid-America Apartment Communities by 5.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,128,986 shares of the real estate investment trust's stock valued at $174,507,000 after buying an additional 54,763 shares during the period. Finally, Nuveen LLC bought a new stake in Mid-America Apartment Communities in the 1st quarter valued at about $150,966,000. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock traded down $4.17 during trading hours on Wednesday, hitting $141.26. 744,207 shares of the company's stock traded hands, compared to its average volume of 759,001. The stock has a market capitalization of $16.54 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 3.89 and a beta of 0.78. Mid-America Apartment Communities, Inc. has a 12-month low of $137.32 and a 12-month high of $173.38. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.10 and a quick ratio of 0.10. The company has a fifty day simple moving average of $145.58 and a 200-day simple moving average of $153.85.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.01. The company had revenue of $549.90 million during the quarter, compared to analyst estimates of $552.19 million. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.22 earnings per share. 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 anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 3.0%. Mid-America Apartment Communities's payout ratio is 124.69%.

Analyst Ratings Changes

MAA has been the topic of several recent research reports. UBS Group cut their price target on Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating on the stock in a report on Tuesday, July 15th. The Goldman Sachs Group cut Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 target price on the stock. in a report on Friday, July 11th. Evercore ISI cut their price target on Mid-America Apartment Communities from $155.00 to $152.00 and set an "in-line" rating for the company in a research note on Tuesday, August 12th. Wall Street Zen upgraded Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, KeyCorp cut their price objective on shares of Mid-America Apartment Communities from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Eight analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of "Hold" and a consensus target price of $162.78.

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.