abrdn plc Trims Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

abrdn plc decreased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,327 shares of the real estate investment trust's stock after selling 2,259 shares during the period. abrdn plc owned about 0.07% of Mid-America Apartment Communities worth $12,668,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $25,000. Activest Wealth Management acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $32,000. Catalyst Capital Advisors LLC acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $37,000. Quarry LP acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $45,000. Finally, UMB Bank n.a. raised its position in Mid-America Apartment Communities by 30.5% in the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 75 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock traded down $0.86 during midday trading on Tuesday, hitting $156.00. The company had a trading volume of 674,374 shares, compared to its average volume of 747,506. The company's 50 day simple moving average is $153.43 and its 200 day simple moving average is $155.59. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The stock has a market cap of $18.23 billion, a price-to-earnings ratio of 34.82, a PEG ratio of 2.56 and a beta of 0.91. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.86 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 3.88%. This is an increase from Mid-America Apartment Communities's previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Wednesday, January 15th. Mid-America Apartment Communities's payout ratio is presently 135.27%.

Analysts Set New Price Targets

MAA has been the topic of several research analyst reports. BMO Capital Markets cut their target price on Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating on the stock in a research report on Tuesday, January 21st. Morgan Stanley raised Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $159.50 to $168.00 in a research report on Friday, January 24th. Mizuho cut their target price on Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Raymond James raised Mid-America Apartment Communities from a "market perform" rating to a "strong-buy" rating and set a $175.00 target price on the stock in a research report on Monday, October 21st. Finally, KeyCorp raised Mid-America Apartment Communities from a "sector weight" rating to an "overweight" rating and set a $180.00 target price on the stock in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $166.00.

Mid-America Apartment Communities Profile

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 Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.