Alerus Financial NA Reduces Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Alerus Financial NA decreased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,954 shares of the real estate investment trust’s stock after selling 153 shares during the quarter. Alerus Financial NA’s holdings in Mid-America Apartment Communities were worth $1,825,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP purchased a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at approximately $1,868,000. Nordea Investment Management AB raised its position in Mid-America Apartment Communities by 17.0% in the fourth quarter. Nordea Investment Management AB now owns 6,275 shares of the real estate investment trust’s stock valued at $1,438,000 after purchasing an additional 914 shares during the period. Balyasny Asset Management LLC lifted its stake in shares of Mid-America Apartment Communities by 112.2% in the 3rd quarter. Balyasny Asset Management LLC now owns 77,470 shares of the real estate investment trust’s stock valued at $14,468,000 after purchasing an additional 40,969 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Mid-America Apartment Communities by 11.4% during the 4th quarter. Quadrant Capital Group LLC now owns 832 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 85 shares during the period. Finally, Ensign Peak Advisors Inc increased its position in shares of Mid-America Apartment Communities by 385.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 51,650 shares of the real estate investment trust’s stock worth $11,850,000 after purchasing an additional 41,017 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Several analysts recently weighed in on MAA shares. Mizuho dropped their target price on shares of Mid-America Apartment Communities from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Wednesday, February 16th. Piper Sandler cut their price objective on Mid-America Apartment Communities from $240.00 to $230.00 in a report on Wednesday, May 4th. BTIG Research initiated coverage on Mid-America Apartment Communities in a report on Monday, May 9th. They set a “buy” rating and a $225.00 target price for the company. Truist Financial reduced their price target on shares of Mid-America Apartment Communities from $220.00 to $205.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Scotiabank dropped their price objective on shares of Mid-America Apartment Communities from $231.00 to $226.00 in a report on Thursday, May 19th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $211.08.

NYSE MAA traded down $0.65 on Wednesday, hitting $179.77. 7,843 shares of the company’s stock were exchanged, compared to its average volume of 686,793. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.14 and a quick ratio of 0.14. The firm’s 50-day moving average price is $198.54 and its two-hundred day moving average price is $206.74. The firm has a market cap of $20.75 billion, a price-to-earnings ratio of 34.97, a P/E/G ratio of 10.69 and a beta of 0.73. Mid-America Apartment Communities, Inc. has a fifty-two week low of $158.17 and a fifty-two week high of $231.63.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last issued its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.13. Mid-America Apartment Communities had a net margin of 32.66% and a return on equity of 9.77%. During the same quarter last year, the company earned $1.64 EPS. On average, research analysts predict that Mid-America Apartment Communities, Inc. will post 8.11 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, July 14th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.09. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 84.30%.

In other news, COO Thomas L. Grimes, Jr. sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, April 29th. The shares were sold at an average price of $202.50, for a total value of $4,050,000.00. Following the completion of the transaction, the chief operating officer now owns 44,983 shares of the company’s stock, valued at $9,109,057.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.34% of the stock is currently owned by corporate insiders.

About Mid-America Apartment Communities (Get Rating)

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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