Summit Asset Management LLC Reduces Stock Position in Mid-America Apartment Communities, Inc. $MAA

Summit Asset Management LLC decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 21.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,243 shares of the real estate investment trust’s stock after selling 1,450 shares during the quarter. Summit Asset Management LLC’s holdings in Mid-America Apartment Communities were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in shares of Mid-America Apartment Communities during the 1st quarter worth about $150,966,000. Deutsche Bank AG lifted its stake in shares of Mid-America Apartment Communities by 38.3% during the first quarter. Deutsche Bank AG now owns 1,695,832 shares of the real estate investment trust’s stock valued at $284,188,000 after buying an additional 469,806 shares during the period. Centersquare Investment Management LLC boosted its position in Mid-America Apartment Communities by 248.0% during the first quarter. Centersquare Investment Management LLC now owns 412,895 shares of the real estate investment trust’s stock worth $69,193,000 after acquiring an additional 294,245 shares during the last quarter. Russell Investments Group Ltd. boosted its position in Mid-America Apartment Communities by 59.7% during the first quarter. Russell Investments Group Ltd. now owns 727,670 shares of the real estate investment trust’s stock worth $121,734,000 after acquiring an additional 272,030 shares during the last quarter. Finally, APG Asset Management US Inc. grew its stake in Mid-America Apartment Communities by 9.7% in the 1st quarter. APG Asset Management US Inc. now owns 3,069,507 shares of the real estate investment trust’s stock worth $514,081,000 after acquiring an additional 271,507 shares during the period. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. acquired 578 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $129.36 per share, for a total transaction of $74,770.08. Following the completion of the purchase, the chief executive officer directly owned 320,391 shares in the company, valued at $41,445,779.76. This represents a 0.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Mid-America Apartment Communities Price Performance

Shares of Mid-America Apartment Communities stock opened at $129.56 on Friday. The business’s fifty day moving average price is $136.60 and its 200 day moving average price is $145.97. Mid-America Apartment Communities, Inc. has a twelve month low of $125.75 and a twelve month high of $173.38. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $15.17 billion, a P/E ratio of 27.45, a PEG ratio of 3.38 and a beta of 0.78.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $2.16 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.01). The firm had revenue of $554.37 million during the quarter, compared to analysts’ expectations of $557.22 million. Mid-America Apartment Communities had a return on equity of 9.10% and a net margin of 25.23%.The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business earned $2.21 earnings per share. Mid-America Apartment Communities has set its FY 2025 guidance at 8.680-8.800 EPS. Q4 2025 guidance at 2.170-2.290 EPS. As a group, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 15th were issued a $1.515 dividend. The ex-dividend date was Wednesday, October 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. This represents a $6.06 annualized dividend and a yield of 4.7%. Mid-America Apartment Communities’s payout ratio is 128.39%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MAA shares. Cantor Fitzgerald began coverage on Mid-America Apartment Communities in a research note on Wednesday, October 1st. They set a “neutral” rating and a $150.00 price target on the stock. BNP Paribas lowered Mid-America Apartment Communities from a “hold” rating to a “strong sell” rating in a research note on Monday, September 29th. Morgan Stanley reduced their target price on Mid-America Apartment Communities from $177.00 to $169.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 13th. BNP Paribas Exane lowered Mid-America Apartment Communities from a “neutral” rating to an “underperform” rating in a research note on Monday, September 29th. Finally, UBS Group dropped their price objective on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a “sell” rating for the company in a research note on Tuesday, July 15th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $158.44.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.