Fifth Third Bancorp Has $1.50 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Posted by Defense World Staff on Apr 8th, 2023

Fifth Third Bancorp cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 25.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,568 shares of the real estate investment trust’s stock after selling 3,318 shares during the quarter. Fifth Third Bancorp’s holdings in Mid-America Apartment Communities were worth $1,502,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Karp Capital Management Corp acquired a new position in Mid-America Apartment Communities in the third quarter valued at approximately $26,000. Armstrong Advisory Group Inc. acquired a new position in Mid-America Apartment Communities in the fourth quarter valued at approximately $26,000. Selway Asset Management acquired a new position in Mid-America Apartment Communities in the third quarter valued at approximately $31,000. Fiduciary Alliance LLC acquired a new position in Mid-America Apartment Communities in the fourth quarter valued at approximately $31,000. Finally, Guardian Wealth Advisors LLC acquired a new position in Mid-America Apartment Communities in the third quarter valued at approximately $33,000. 91.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MAA has been the subject of several recent research reports. BTIG Research decreased their price objective on Mid-America Apartment Communities from $225.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, January 11th. Barclays boosted their price objective on Mid-America Apartment Communities from $185.00 to $192.00 and gave the company an “overweight” rating in a report on Wednesday, March 1st. UBS Group initiated coverage on Mid-America Apartment Communities in a report on Thursday, December 15th. They set a “sell” rating and a $150.00 price objective for the company. Piper Sandler decreased their price objective on Mid-America Apartment Communities from $195.00 to $182.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Mizuho boosted their price objective on Mid-America Apartment Communities from $175.00 to $176.00 and gave the company a “neutral” rating in a report on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus target price of $174.75.

Mid-America Apartment Communities Trading Up 0.7 %

Mid-America Apartment Communities stock opened at $150.26 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.71. The business’s fifty day simple moving average is $157.87 and its two-hundred day simple moving average is $156.94. Mid-America Apartment Communities, Inc. has a 12 month low of $138.68 and a 12 month high of $217.23. The company has a market capitalization of $17.52 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 8.53 and a beta of 0.77.

Mid-America Apartment Communities (NYSE:MAA – Get Rating) last released its earnings results on Thursday, February 2nd. The real estate investment trust reported $1.67 EPS for the quarter, missing the consensus estimate of $2.28 by ($0.61). Mid-America Apartment Communities had a return on equity of 10.72% and a net margin of 31.51%. The company had revenue of $527.97 million during the quarter, compared to the consensus estimate of $529.90 million. During the same period last year, the firm posted $1.90 earnings per share. The company’s revenue was up 13.9% compared to the same quarter last year. As a group, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.74 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be paid a $1.40 dividend. The ex-dividend date is Thursday, April 13th. This represents a $5.60 annualized dividend and a dividend yield of 3.73%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. Mid-America Apartment Communities’s payout ratio is currently 102.00%.

Insider Transactions at Mid-America Apartment Communities

In other news, EVP Melanie Carpenter sold 480 shares of the business’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $150.21, for a total value of $72,100.80. Following the completion of the transaction, the executive vice president now owns 16,669 shares in the company, valued at $2,503,850.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 842 shares of company stock worth $128,417 over the last quarter. 1.34% of the stock is currently owned by insiders.

Mid-America Apartment Communities Profile

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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 following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.