Mirae Asset Global Investments Co. Ltd. Reduces Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,753 shares of the real estate investment trust’s stock after selling 2,218 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Mid-America Apartment Communities were worth $2,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $35,000. First Financial Corp IN boosted its position in 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 buying an additional 86 shares during the period. CVA Family Office LLC purchased a new stake in Mid-America Apartment Communities in the 4th quarter valued at about $40,000. Quarry LP boosted its position in Mid-America Apartment Communities by 186.5% in the 1st quarter. Quarry LP now owns 275 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 179 shares during the period. Finally, Lindbrook Capital LLC boosted its position in Mid-America Apartment Communities by 36.1% in the 3rd quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 106 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MAA has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price target for the company. Jefferies Financial Group restated a “hold” rating and issued a $136.00 price target (down previously from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $149.00 price target on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Morgan Stanley boosted their price target on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, Mizuho reduced their price target on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.18.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction 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 sale, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 2,807 shares of company stock worth $353,955 over the last 90 days. 1.33% of the stock is currently owned by company insiders.

Mid-America Apartment Communities Trading Down 0.1 %

NYSE MAA opened at $124.62 on Friday. The company has a fifty day simple moving average of $128.88 and a two-hundred day simple moving average of $128.64. The stock has a market cap of $14.55 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.78 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 12-month low of $115.56 and a 12-month high of $158.46. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (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 return on equity of 8.74% and a net margin of 25.73%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.32 EPS. On average, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.91 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

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

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.