Flputnam Investment Management Co. Cuts Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Flputnam Investment Management Co. decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 42,923 shares of the real estate investment trust’s stock after selling 4,022 shares during the period. Flputnam Investment Management Co.’s holdings in Mid-America Apartment Communities were worth $5,771,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAA. BlackRock Inc. increased its stake in shares of Mid-America Apartment Communities by 1.0% during the first quarter. BlackRock Inc. now owns 11,362,466 shares of the real estate investment trust’s stock worth $1,716,187,000 after purchasing an additional 112,194 shares in the last quarter. FMR LLC increased its stake in shares of Mid-America Apartment Communities by 12.2% during the third quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock worth $702,125,000 after purchasing an additional 592,306 shares in the last quarter. Norges Bank purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth about $543,026,000. JPMorgan Chase & Co. increased its stake in shares of Mid-America Apartment Communities by 41.7% during the first quarter. JPMorgan Chase & Co. now owns 3,251,030 shares of the real estate investment trust’s stock worth $491,036,000 after purchasing an additional 956,154 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Mid-America Apartment Communities by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 2,635,202 shares of the real estate investment trust’s stock valued at $397,203,000 after acquiring an additional 60,949 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Down 1.6 %

Shares of NYSE:MAA traded down $2.02 during trading hours on Tuesday, reaching $124.61. The stock had a trading volume of 38,723 shares, compared to its average volume of 878,735. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $158.46. The firm’s 50 day moving average is $128.93 and its 200-day moving average is $128.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $14.55 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 2.87 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The company had revenue of $542.25 million during the quarter, compared to analysts’ expectations of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the business earned $2.32 earnings per share. Research analysts predict that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 124.84%.

Analyst Upgrades and Downgrades

MAA has been the subject of several research reports. Truist Financial dropped their price objective on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the company from $133.00 to $147.00 in a report on Tuesday, January 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $149.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 target price on the stock. Finally, Mizuho decreased their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.18.

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now 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 SEC, which can be accessed through this hyperlink. Insiders sold a total of 2,807 shares of company stock worth $353,955 in the last 90 days. Company insiders own 1.33% of the company’s stock.

About Mid-America Apartment Communities

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.