Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Flputnam Investment Management Co.

Flputnam Investment Management Co. cut its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,923 shares of the real estate investment trust’s stock after selling 4,022 shares during the quarter. Flputnam Investment Management Co.’s holdings in Mid-America Apartment Communities were worth $5,771,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth about $35,000. ST Germain D J Co. Inc. acquired a new stake in shares of Mid-America Apartment Communities during the 2nd quarter worth about $36,000. First Financial Corp IN boosted its stake in shares of Mid-America Apartment Communities by 40.8% during the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 86 shares during the last quarter. CVA Family Office LLC acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter worth about $40,000. Finally, Quarry LP boosted its stake in shares of Mid-America Apartment Communities by 186.5% during the 1st quarter. Quarry LP now owns 275 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 179 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 2,807 shares of company stock valued at $353,955 in the last 90 days. 1.33% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA traded down $2.02 during midday trading on Tuesday, reaching $124.61. 38,723 shares of the company traded hands, compared to its average volume of 878,735. The stock has a 50-day moving average price of $128.93 and a 200 day moving average price of $128.73. The company has a market cap of $14.55 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 2.87 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $158.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The company had revenue of $542.25 million during the quarter, compared to analysts’ expectations of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.32 EPS. Sell-side analysts anticipate 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 annualized dividend and a yield of 4.72%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 124.84%.

Wall Street Analysts Forecast Growth

Several research analysts have 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Mizuho lowered their price objective on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Scotiabank raised shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the company from $133.00 to $147.00 in a research report on Tuesday, January 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $143.18.

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.