American International Group Inc. Sells 957 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Posted by Defense World Staff on Jun 4th, 2023

American International Group Inc. cut its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,252 shares of the real estate investment trust’s stock after selling 957 shares during the period. American International Group Inc.’s holdings in Mid-America Apartment Communities were worth $4,906,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Sei Investments Co. lifted its stake in shares of Mid-America Apartment Communities by 87.9% in the fourth quarter. Sei Investments Co. now owns 288,759 shares of the real estate investment trust’s stock valued at $45,332,000 after buying an additional 135,044 shares during the period. Ameritas Advisory Services LLC increased its position in shares of Mid-America Apartment Communities by 25.1% during the fourth quarter. Ameritas Advisory Services LLC now owns 2,040 shares of the real estate investment trust’s stock valued at $320,000 after purchasing an additional 409 shares during the period. Victory Capital Management Inc. raised its stake in shares of Mid-America Apartment Communities by 15.3% in the fourth quarter. Victory Capital Management Inc. now owns 54,629 shares of the real estate investment trust’s stock valued at $8,576,000 after purchasing an additional 7,232 shares in the last quarter. Argent Trust Co lifted its position in Mid-America Apartment Communities by 13.5% in the fourth quarter. Argent Trust Co now owns 1,510 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 180 shares during the period. Finally, Franklin Resources Inc. lifted its position in Mid-America Apartment Communities by 846.7% in the fourth quarter. Franklin Resources Inc. now owns 181,465 shares of the real estate investment trust’s stock worth $28,488,000 after purchasing an additional 162,297 shares during the period. 91.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAA has been the subject of a number of analyst reports. Truist Financial reduced their price objective on shares of Mid-America Apartment Communities from $178.00 to $159.00 and set a “hold” rating for the company in a report on Monday, March 27th. 888 restated a “maintains” rating on shares of Mid-America Apartment Communities in a research note on Friday, May 19th. Scotiabank lowered Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and set a $150.00 price objective on the stock. in a research note on Wednesday, April 12th. 92 Resources restated a “maintains” rating on shares of Mid-America Apartment Communities in a research report on Friday, April 28th. Finally, Wolfe Research lowered Mid-America Apartment Communities from a “peer perform” rating to an “underperform” rating and set a $137.00 price target on the stock. in a research note on Monday, May 15th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $168.57.

Mid-America Apartment Communities Stock Up 2.5 %

Shares of MAA opened at $150.66 on Friday. The business’s fifty day moving average price is $149.11 and its two-hundred day moving average price is $155.94. The firm has a market capitalization of $17.58 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 8.24 and a beta of 0.77. Mid-America Apartment Communities, Inc. has a 52 week low of $138.68 and a 52 week high of $190.17. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.28 and a current ratio of 0.28.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be given a $1.40 dividend. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $5.60 dividend on an annualized basis and a yield of 3.72%. Mid-America Apartment Communities’s payout ratio is 98.25%.

Insiders Place Their Bets

In related news, EVP Melanie Carpenter sold 480 shares of the business’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $150.21, for a total transaction of $72,100.80. Following the completion of the sale, the executive vice president now directly owns 16,669 shares of the company’s stock, valued at $2,503,850.49. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.33% of the company’s stock.

Mid-America Apartment Communities Company 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.