Duff & Phelps Investment Management Co. Has $65.96 Million Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Duff & Phelps Investment Management Co. trimmed its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 26.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 490,580 shares of the real estate investment trust’s stock after selling 172,970 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.42% of Mid-America Apartment Communities worth $65,963,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. DAVENPORT & Co LLC raised its holdings in shares of Mid-America Apartment Communities by 4.5% during the third quarter. DAVENPORT & Co LLC now owns 3,537 shares of the real estate investment trust’s stock worth $455,000 after acquiring an additional 153 shares during the period. Czech National Bank lifted its position in shares of Mid-America Apartment Communities by 47.7% in the third quarter. Czech National Bank now owns 20,392 shares of the real estate investment trust’s stock valued at $2,623,000 after buying an additional 6,582 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Mid-America Apartment Communities by 16.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 31,429 shares of the real estate investment trust’s stock worth $4,043,000 after acquiring an additional 4,444 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $3,219,000. Finally, Xponance Inc. raised its stake in Mid-America Apartment Communities by 6.0% in the 3rd quarter. Xponance Inc. now owns 15,919 shares of the real estate investment trust’s stock valued at $2,048,000 after acquiring an additional 903 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

Shares of MAA stock traded down $0.40 on Tuesday, reaching $130.73. The company had a trading volume of 302,079 shares, compared to its average volume of 871,113. The business’s 50-day moving average is $129.10 and its 200 day moving average is $128.52. The stock has a market capitalization of $15.26 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.90 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $158.46. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72.

Mid-America Apartment Communities (NYSE:MAA) last posted its 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 for the quarter, compared to the consensus estimate of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.32 EPS. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a yield of 4.50%. Mid-America Apartment Communities’s payout ratio is 124.84%.

Wall Street Analyst Weigh In

Several equities analysts have commented on MAA shares. Truist Financial decreased 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. Wedbush restated a “neutral” rating and set a $135.00 price objective on shares of Mid-America Apartment Communities in a report on Monday. Piper Sandler reiterated a “neutral” rating and set a $140.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $136.00 price objective (down from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $149.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Two equities 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $143.06.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 2,807 shares of company stock valued at $353,955 in the last three months. Insiders own 1.30% of the company’s stock.

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.