Principal Street Partners LLC Sells 37,881 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Principal Street Partners LLC reduced its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,889 shares of the real estate investment trust's stock after selling 37,881 shares during the quarter. Principal Street Partners LLC's holdings in Mid-America Apartment Communities were worth $5,095,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blackstone Inc. boosted its position in Mid-America Apartment Communities by 51.8% in the 3rd 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 last quarter. FMR LLC increased its position in 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 purchasing an additional 592,306 shares during the period. Anchor Capital Advisors LLC raised its holdings in Mid-America Apartment Communities by 10,178.6% during the 4th quarter. Anchor Capital Advisors LLC now owns 349,575 shares of the real estate investment trust's stock worth $47,004,000 after purchasing an additional 346,174 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Mid-America Apartment Communities during the 4th quarter valued at about $39,561,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Mid-America Apartment Communities by 178.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 314,252 shares of the real estate investment trust's stock valued at $40,429,000 after purchasing an additional 201,488 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 2,807 shares of company stock worth $353,955 in the last quarter. Corporate insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MAA shares. Truist Financial cut their price objective on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a "buy" rating on the stock in a report on Tuesday, April 9th. Mizuho decreased their price objective on Mid-America Apartment Communities from $132.00 to $126.00 and set a "neutral" rating for the company in a research note on Wednesday, February 28th. Piper Sandler reissued a "neutral" rating and issued a $140.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Scotiabank upgraded Mid-America Apartment Communities from a "sector underperform" rating to a "sector perform" rating and boosted their target price for the stock from $133.00 to $147.00 in a research report on Tuesday, January 16th. Finally, Morgan Stanley increased their price target on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an "equal weight" rating in a research report on Monday, February 26th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $144.18.

Mid-America Apartment Communities Stock Down 0.6 %

Shares of MAA traded down $0.87 during midday trading on Friday, hitting $135.47. The stock had a trading volume of 334,158 shares, compared to its average volume of 819,642. The company has a 50 day simple moving average of $130.46 and a two-hundred day simple moving average of $128.72. Mid-America Apartment Communities, Inc. has a twelve month low of $115.56 and a twelve month high of $158.46. The firm has a market cap of $15.83 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 3.57 and a beta of 0.80. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.12.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($1.01). The firm had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The company's revenue was up 2.8% compared to the same quarter last year. During the same period last year, the company earned $2.28 EPS. On average, analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.89 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a dividend of $1.47 per share. The ex-dividend date was Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.34%. Mid-America Apartment Communities's dividend payout ratio is 123.27%.

About Mid-America Apartment Communities

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.