Advisor Group Holdings Inc. Sells 2,999 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Posted by Defense World Staff on Jun 1st, 2023

Advisor Group Holdings Inc. trimmed its position in Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 8.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 34,556 shares of the real estate investment trust’s stock after selling 2,999 shares during the period. Advisor Group Holdings Inc.’s holdings in Mid-America Apartment Communities were worth $5,426,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MAA. Murphy Middleton Hinkle & Parker Inc. boosted its stake in Mid-America Apartment Communities by 3.8% in the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 1,910 shares of the real estate investment trust’s stock valued at $300,000 after acquiring an additional 70 shares during the last quarter. Texas Permanent School Fund increased its position in shares of Mid-America Apartment Communities by 0.4% in the fourth quarter. Texas Permanent School Fund now owns 16,407 shares of the real estate investment trust’s stock valued at $2,576,000 after acquiring an additional 73 shares during the period. Pinebridge Investments L.P. increased its position in shares of Mid-America Apartment Communities by 6.7% in the fourth quarter. Pinebridge Investments L.P. now owns 1,210 shares of the real estate investment trust’s stock valued at $190,000 after acquiring an additional 76 shares during the period. Pathstone Family Office LLC boosted its stake in shares of Mid-America Apartment Communities by 2.4% during the 3rd quarter. Pathstone Family Office LLC now owns 3,425 shares of the real estate investment trust’s stock valued at $531,000 after purchasing an additional 80 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its stake in shares of Mid-America Apartment Communities by 6.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 1,463 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 84 shares in the last quarter. 91.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on MAA. Mizuho dropped their price objective on shares of Mid-America Apartment Communities from $176.00 to $159.00 in a research note on Friday, May 19th. Truist Financial dropped their price target on shares of Mid-America Apartment Communities from $178.00 to $159.00 and set a “hold” rating for the company in a research report on Monday, March 27th. 888 reiterated a “maintains” rating on shares of Mid-America Apartment Communities in a research report on Friday, May 19th. Wolfe Research lowered shares of Mid-America Apartment Communities from a “peer perform” rating to an “underperform” rating and set a $137.00 target price for the company. in a research report on Monday, May 15th. Finally, Wells Fargo & Company initiated coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, March 29th. They set an “equal weight” rating and a $156.50 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $168.57.

Insider Buying and Selling

In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 480 shares of the firm’s stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $150.21, for a total value of $72,100.80. Following the sale, the executive vice president now directly owns 16,669 shares of the company’s stock, valued at approximately $2,503,850.49. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.33% of the stock is currently owned by company insiders.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $147.06 on Thursday. The stock has a fifty day moving average price of $148.82 and a 200 day moving average price of $156.05. The company has a market cap of $17.16 billion, a PE ratio of 25.80, a P/E/G ratio of 8.04 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.28 and a quick ratio of 0.28. Mid-America Apartment Communities, Inc. has a 1-year low of $138.68 and a 1-year high of $190.17.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Friday, July 14th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Thursday, July 13th. Mid-America Apartment Communities’s dividend payout ratio is currently 98.25%.

About Mid-America Apartment Communities

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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.