Delta Asset Management LLC TN Reduces Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Delta Asset Management LLC TN lessened its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,738 shares of the real estate investment trust’s stock after selling 893 shares during the quarter. Delta Asset Management LLC TN’s holdings in Mid-America Apartment Communities were worth $1,847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in MAA. First United Bank & Trust acquired a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at about $27,000. Cullen Frost Bankers Inc. acquired a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $35,000. First Financial Corp IN grew its stake in shares of Mid-America Apartment Communities by 40.8% in the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 86 shares during the period. CVA Family Office LLC acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter worth approximately $40,000. Finally, Emfo LLC purchased a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA traded down $0.50 during midday trading on Wednesday, hitting $136.00. The stock had a trading volume of 516,540 shares, compared to its average volume of 843,494. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $158.46. The stock has a 50 day moving average price of $131.17 and a two-hundred day moving average price of $129.58. The company has a market capitalization of $15.89 billion, a PE ratio of 28.61, a P/E/G ratio of 3.59 and a beta of 0.80. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The company had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.44 million. During the same period in the prior year, the firm posted $2.28 EPS. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. As a group, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.87 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.32%. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Analyst Ratings Changes

A number of research firms have commented on MAA. Piper Sandler reaffirmed a “neutral” rating and issued a $140.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Morgan Stanley lifted their target price on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a report on Wednesday, May 15th. Royal Bank of Canada restated a “sector perform” rating and set a $136.00 price target on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft started coverage on Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price objective on the stock. Finally, The Goldman Sachs Group restated 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 research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Mid-America Apartment Communities currently has an average rating of “Hold” and an average price target of $144.18.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 2,807 shares of company stock valued at $353,955 in the last 90 days. 1.30% of the stock is currently owned by insiders.

Mid-America Apartment Communities 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.