Cypress Capital LLC cut its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 17.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,290 shares of the real estate investment trust’s stock after selling 270 shares during the period. Cypress Capital LLC’s holdings in Mid-America Apartment Communities were worth $270,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. UMB Bank N A MO purchased a new stake in Mid-America Apartment Communities during the 4th quarter worth approximately $30,000. Johnson Financial Group Inc. purchased a new stake in Mid-America Apartment Communities during the 4th quarter worth approximately $40,000. Corbenic Partners LLC purchased a new stake in Mid-America Apartment Communities during the 1st quarter worth approximately $51,000. West Bancorporation Inc. purchased a new stake in Mid-America Apartment Communities during the 4th quarter worth approximately $66,000. Finally, Wunderlich Capital Managemnt purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $115,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Truist Financial dropped their price target on Mid-America Apartment Communities from $205.00 to $188.00 and set a “buy” rating for the company in a research report on Friday, June 24th. Piper Sandler dropped their price target on Mid-America Apartment Communities from $200.00 to $195.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Jefferies Financial Group dropped their price target on Mid-America Apartment Communities from $212.00 to $201.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. JMP Securities upgraded Mid-America Apartment Communities from a “market perform” rating to an “outperform” rating and set a $220.00 price target for the company in a research report on Friday, July 29th. Finally, Credit Suisse Group began coverage on Mid-America Apartment Communities in a research report on Wednesday, June 22nd. They issued an “outperform” rating and a $195.00 price target for the company. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $208.38.
Mid-America Apartment Communities Stock Up 0.4 %
Mid-America Apartment Communities (NYSE:MAA – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $2.00 by ($0.18). Mid-America Apartment Communities had a return on equity of 10.01% and a net margin of 31.30%. The firm had revenue of $495.04 million for the quarter, compared to analyst estimates of $488.64 million. During the same quarter last year, the company earned $1.69 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.24 EPS for the current year.
Mid-America Apartment Communities Announces Dividend
The company also recently declared a dividend, which was paid on Monday, July 25th. Shareholders of record on Friday, July 15th were paid a dividend of $1.25 per share. This represents a yield of 2.85%. The ex-dividend date was Thursday, July 14th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 98.04%.
In other news, EVP Melanie Carpenter sold 1,355 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $186.27, for a total value of $252,395.85. Following the sale, the executive vice president now directly owns 17,953 shares in the company, valued at $3,344,105.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.34% of the company’s stock.
Mid-America Apartment Communities 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.
- Get a free copy of the StockNews.com research report on Mid-America Apartment Communities (MAA)
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