CWM LLC cut its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,815 shares of the real estate investment trust's stock after selling 11,699 shares during the quarter. CWM LLC owned 0.10% of Mid-America Apartment Communities worth $16,110,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. FMR LLC grew its stake in shares of Mid-America Apartment Communities by 12.2% in the third quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust's stock worth $702,125,000 after acquiring an additional 592,306 shares during the period. Morgan Stanley grew its stake in shares of Mid-America Apartment Communities by 1.4% in the third quarter. Morgan Stanley now owns 2,345,083 shares of the real estate investment trust's stock worth $301,695,000 after acquiring an additional 31,813 shares during the period. Blackstone Inc. grew its position in Mid-America Apartment Communities by 51.8% during the third quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust's stock valued at $262,943,000 after buying an additional 697,200 shares during the period. Northern Trust Corp grew its position in Mid-America Apartment Communities by 5.7% during the third quarter. Northern Trust Corp now owns 1,725,788 shares of the real estate investment trust's stock valued at $222,023,000 after buying an additional 93,020 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Mid-America Apartment Communities by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,014 shares of the real estate investment trust's stock valued at $161,072,000 after buying an additional 16,889 shares during the period. 93.60% of the stock is currently owned by institutional investors.
Mid-America Apartment Communities Price Performance
Shares of MAA stock traded up $1.39 during mid-day trading on Monday, hitting $127.47. The company had a trading volume of 484,640 shares, compared to its average volume of 884,942. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The stock's 50 day moving average price is $128.96 and its 200-day moving average price is $128.65. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market capitalization of $14.88 billion, a P/E ratio of 27.06, a P/E/G ratio of 2.83 and a beta of 0.80.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The business had revenue of $542.25 million during the quarter, compared to the consensus estimate of $542.64 million. During the same quarter in the prior year, the firm posted $2.32 EPS. The company's revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current year.
Mid-America Apartment Communities Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities's dividend payout ratio is presently 124.84%.
Insider Buying and Selling
In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business's stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders have sold 2,807 shares of company stock worth $353,955. Insiders own 1.30% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Piper Sandler restated a "neutral" rating and set a $140.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, January 30th. They set a "hold" rating and a $139.00 target price for the company. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $136.00 price target on shares of Mid-America Apartment Communities in a report on Friday, February 9th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $149.00 price target on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Finally, Jefferies Financial Group reaffirmed a "hold" rating and set a $136.00 price target (down previously from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $143.18.
Check Out Our Latest Stock Analysis on MAA
About Mid-America Apartment Communities
(
Free Report)
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.
Recommended Stories
Before you consider Mid-America Apartment Communities, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mid-America Apartment Communities wasn't on the list.
While Mid-America Apartment Communities currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
