MayTech Global Investments LLC Sells 863 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

MayTech Global Investments LLC lessened its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 19.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,582 shares of the real estate investment trust’s stock after selling 863 shares during the period. Mid-America Apartment Communities comprises 0.1% of MayTech Global Investments LLC’s holdings, making the stock its 23rd largest position. MayTech Global Investments LLC’s holdings in Mid-America Apartment Communities were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. First United Bank & Trust bought a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at about $27,000. CVA Family Office LLC bought a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at about $40,000. First Financial Corp IN grew its holdings 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 acquiring an additional 86 shares in the last quarter. Emfo LLC bought a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at about $40,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Mid-America Apartment Communities by 53.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 378 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 132 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley raised their price objective on 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. The Goldman Sachs Group reiterated a “buy” rating and set a $149.00 price target on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. UBS Group lifted their price target on Mid-America Apartment Communities from $126.00 to $131.00 and gave the stock a “sell” rating in a report on Tuesday, May 14th. Mizuho lifted their price target on Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Finally, Scotiabank lifted their price target on Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus target price of $141.47.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA traded up $0.37 during midday trading on Wednesday, reaching $137.34. The company’s stock had a trading volume of 527,238 shares, compared to its average volume of 819,559. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.12 and a current ratio of 0.12. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $158.46. The business’s 50 day moving average price is $132.32 and its two-hundred day moving average price is $130.90. The company has a market cap of $16.05 billion, a P/E ratio of 28.71, a P/E/G ratio of 3.09 and a beta of 0.84.

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

Mid-America Apartment Communities Announces Dividend

The firm 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. The ex-dividend date of this dividend is Friday, July 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.28%. Mid-America Apartment Communities’s payout ratio is 123.27%.

Insider Activity

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now directly 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 is accessible through this hyperlink. Over the last ninety days, insiders sold 2,807 shares of company stock worth $353,955. Corporate insiders own 1.30% of the company’s stock.

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.