Foundry Partners LLC Sells 6,795 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Foundry Partners LLC cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,711 shares of the real estate investment trust's stock after selling 6,795 shares during the quarter. Foundry Partners LLC's holdings in Mid-America Apartment Communities were worth $7,356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Commerzbank Aktiengesellschaft FI lifted its position in Mid-America Apartment Communities by 12.8% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 3,350 shares of the real estate investment trust's stock valued at $451,000 after acquiring an additional 380 shares in the last quarter. Cetera Trust Company N.A bought a new position in Mid-America Apartment Communities in the 4th quarter valued at approximately $161,000. Handelsbanken Fonder AB lifted its position in Mid-America Apartment Communities by 26.7% in the 4th quarter. Handelsbanken Fonder AB now owns 39,832 shares of the real estate investment trust's stock valued at $5,356,000 after acquiring an additional 8,403 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Mid-America Apartment Communities by 3.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 33,135 shares of the real estate investment trust's stock valued at $4,455,000 after buying an additional 975 shares during the last quarter. Finally, abrdn plc raised its stake in Mid-America Apartment Communities by 25.4% during the 4th quarter. abrdn plc now owns 85,542 shares of the real estate investment trust's stock valued at $11,502,000 after buying an additional 17,339 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Price Performance

MAA stock traded up $1.46 during trading on Friday, reaching $126.08. The company's stock had a trading volume of 564,680 shares, compared to its average volume of 682,457. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $158.46. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $14.72 billion, a P/E ratio of 26.77, a price-to-earnings-growth ratio of 2.83 and a beta of 0.80. The company's fifty day moving average is $128.92 and its 200-day moving average is $128.66.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The company had revenue of $542.25 million for the quarter, compared to the consensus estimate of $542.64 million. During the same period last year, the company earned $2.32 EPS. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. On average, research analysts expect that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 124.84%.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the transaction, the chief executive officer now owns 317,737 shares of the company's stock, valued at approximately $40,057,103.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 2,807 shares of company stock valued at $353,955 in the last 90 days. Insiders own 1.33% of the company's stock.

Analysts Set New Price Targets

MAA has been the subject of a number of research reports. Truist Financial decreased their target price on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a "buy" rating for the company in a research note on Tuesday, April 9th. The Goldman Sachs Group reiterated a "buy" rating and set a $149.00 target price on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Morgan Stanley boosted their target price on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an "equal weight" rating in a research note on Monday, February 26th. Royal Bank of Canada reiterated a "sector perform" rating and set a $136.00 target price on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $136.00 price objective (down from $140.00) on shares of Mid-America Apartment Communities in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $143.18.

Mid-America Apartment Communities Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.

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