Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,468 shares of the real estate investment trust’s stock after selling 545 shares during the quarter. Corebridge Financial Inc.’s holdings in Mid-America Apartment Communities were worth $4,400,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc raised its position in shares of Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 68 shares in the last quarter. Quarry LP acquired a new stake in shares of Mid-America Apartment Communities during the third quarter worth $45,000. UMB Bank n.a. lifted its position in shares of Mid-America Apartment Communities by 30.5% in the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 75 shares during the last quarter. Catalyst Capital Advisors LLC boosted its holdings in shares of Mid-America Apartment Communities by 57.8% in the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock valued at $56,000 after buying an additional 133 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Mid-America Apartment Communities during the 3rd quarter valued at about $63,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MAA shares. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a research note on Tuesday, December 17th. Scotiabank upgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $173.00 to $182.00 in a research note on Friday, February 14th. BMO Capital Markets cut their target price on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $159.50 to $168.00 in a research report on Friday, January 24th. Finally, Truist Financial lifted their price objective on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a research report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $168.90.

Mid-America Apartment Communities Price Performance

Shares of Mid-America Apartment Communities stock opened at $165.93 on Monday. Mid-America Apartment Communities, Inc. has a 52 week low of $123.73 and a 52 week high of $173.38. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The company’s 50-day moving average price is $159.61 and its two-hundred day moving average price is $157.52. The stock has a market cap of $19.40 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. As a group, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 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 Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 135.27%.

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.