Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Bought by Cbre Clarion Securities LLC

Cbre Clarion Securities LLC grew its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 36.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,005,392 shares of the real estate investment trust’s stock after acquiring an additional 270,747 shares during the quarter. Mid-America Apartment Communities comprises about 2.9% of Cbre Clarion Securities LLC’s holdings, making the stock its 9th largest position. Cbre Clarion Securities LLC’s holdings in Mid-America Apartment Communities were worth $145,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Mid-America Apartment Communities by 1.2% during the 1st quarter. BlackRock Inc. now owns 11,386,523 shares of the real estate investment trust’s stock valued at $1,643,760,000 after acquiring an additional 131,361 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Mid-America Apartment Communities by 27.2% during the 1st quarter. JPMorgan Chase & Co. now owns 4,370,269 shares of the real estate investment trust’s stock valued at $630,891,000 after acquiring an additional 934,847 shares during the last quarter. Northern Trust Corp increased its stake in shares of Mid-America Apartment Communities by 19.4% during the 4th quarter. Northern Trust Corp now owns 2,207,230 shares of the real estate investment trust’s stock valued at $279,634,000 after acquiring an additional 358,891 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mid-America Apartment Communities by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,886,887 shares of the real estate investment trust’s stock valued at $239,045,000 after acquiring an additional 20,521 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Mid-America Apartment Communities by 1.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,491,052 shares of the real estate investment trust’s stock valued at $188,901,000 after acquiring an additional 16,406 shares during the last quarter. 91.74% of the stock is owned by institutional investors.

NYSE MAA traded down $0.58 on Friday, reaching $170.95. The company had a trading volume of 5,970 shares, compared to its average volume of 655,309. The firm has a market capitalization of $19.57 billion, a price-to-earnings ratio of 74.65, a PEG ratio of 12.69 and a beta of 0.66. Mid-America Apartment Communities, Inc. has a 1 year low of $108.06 and a 1 year high of $172.33. The firm’s 50-day moving average is $156.27. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.77.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Tuesday, April 27th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($1.21). The company had revenue of $425.01 million during the quarter, compared to analysts’ expectations of $423.65 million. Mid-America Apartment Communities had a return on equity of 4.33% and a net margin of 15.76%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 EPS. As a group, analysts forecast that Mid-America Apartment Communities, Inc. will post 6.54 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Thursday, July 15th will be given a $1.025 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Wednesday, July 14th. Mid-America Apartment Communities’s payout ratio is 63.76%.

MAA has been the subject of a number of research reports. Royal Bank of Canada initiated coverage on Mid-America Apartment Communities in a report on Tuesday, March 30th. They set a “sector perform” rating and a $146.00 target price for the company. Raymond James boosted their target price on Mid-America Apartment Communities from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Tuesday, May 11th. Truist upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and boosted their target price for the stock from $151.00 to $178.00 in a report on Friday, June 4th. They noted that the move was a valuation call. Mizuho boosted their target price on Mid-America Apartment Communities from $128.00 to $143.00 and gave the stock a “neutral” rating in a report on Monday, March 15th. Finally, Truist Securities upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and boosted their target price for the stock from $151.00 to $178.00 in a report on Friday, June 4th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $149.08.

In other Mid-America Apartment Communities news, Director Russell R. French sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $152.38, for a total value of $761,900.00. Following the transaction, the director now directly owns 9,290 shares of the company’s stock, valued at approximately $1,415,610.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Thomas L. Grimes, Jr. sold 683 shares of the company’s stock in a transaction that occurred on Tuesday, April 6th. The shares were sold at an average price of $146.44, for a total value of $100,018.52. Following the completion of the transaction, the chief operating officer now directly owns 82,192 shares in the company, valued at $12,036,196.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,671 shares of company stock worth $6,415,840. 1.39% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Company Profile

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

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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