DekaBank Deutsche Girozentrale Sells 1,127 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

DekaBank Deutsche Girozentrale reduced its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,285 shares of the real estate investment trust’s stock after selling 1,127 shares during the period. DekaBank Deutsche Girozentrale owned about 0.07% of Mid-America Apartment Communities worth $10,666,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Pathway Financial Advisers LLC purchased a new stake in shares of Mid-America Apartment Communities during the first quarter valued at $312,000. Cetera Advisors LLC grew its stake in shares of Mid-America Apartment Communities by 525.5% in the first quarter. Cetera Advisors LLC now owns 21,460 shares of the real estate investment trust’s stock worth $2,824,000 after acquiring an additional 18,029 shares during the period. Cetera Investment Advisers raised its holdings in shares of Mid-America Apartment Communities by 33.0% during the first quarter. Cetera Investment Advisers now owns 51,421 shares of the real estate investment trust’s stock valued at $6,766,000 after purchasing an additional 12,773 shares during the last quarter. PGGM Investments lifted its position in Mid-America Apartment Communities by 2.2% during the first quarter. PGGM Investments now owns 23,201 shares of the real estate investment trust’s stock valued at $3,053,000 after purchasing an additional 496 shares during the period. Finally, Swedbank AB purchased a new stake in Mid-America Apartment Communities in the first quarter worth approximately $26,107,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Up 2.5 %

Shares of NYSE:MAA traded up $3.61 on Friday, reaching $150.02. The company had a trading volume of 1,152,170 shares, compared to its average volume of 654,960. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $17.53 billion, a PE ratio of 31.45, a PEG ratio of 3.27 and a beta of 0.85. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $152.02. The firm’s 50 day simple moving average is $139.74 and its 200-day simple moving average is $133.59.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.23 by ($1.01). The firm had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.44 million. Mid-America Apartment Communities had a net margin of 23.73% and a return on equity of 8.25%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.28 earnings per share. As a group, analysts expect that Mid-America Apartment Communities, Inc. will post 8.85 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MAA shares. Truist Financial increased their price target on Mid-America Apartment Communities from $148.00 to $156.00 and gave the company a “buy” rating in a report on Monday, June 24th. Janney Montgomery Scott raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a research report on Thursday, June 13th. Wells Fargo & Company upped their price target on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the company an “equal weight” rating in a research report on Friday, May 31st. Scotiabank raised their price objective on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Finally, Royal Bank of Canada upped their target price on shares of Mid-America Apartment Communities from $145.00 to $148.00 and gave the company a “sector perform” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $143.38.

Mid-America Apartment Communities Company 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.