Invesco Ltd. Reduces Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Invesco Ltd. trimmed its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 35.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,535,136 shares of the real estate investment trust's stock after selling 853,153 shares during the period. Invesco Ltd. owned 1.31% of Mid-America Apartment Communities worth $237,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAA. Norges Bank acquired a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth about $826,562,000. JPMorgan Chase & Co. raised its holdings in shares of Mid-America Apartment Communities by 26.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust's stock worth $517,015,000 after acquiring an additional 708,125 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Mid-America Apartment Communities in the 4th quarter worth approximately $95,671,000. Aew Capital Management L P lifted its holdings in shares of Mid-America Apartment Communities by 516.3% during the 4th quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust's stock worth $97,533,000 after acquiring an additional 528,608 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Mid-America Apartment Communities by 200.5% in the 4th quarter. Russell Investments Group Ltd. now owns 455,640 shares of the real estate investment trust's stock valued at $70,300,000 after purchasing an additional 304,021 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

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Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA traded down $1.00 during mid-day trading on Wednesday, reaching $153.89. The company had a trading volume of 1,639,037 shares, compared to its average volume of 739,596. The company's 50-day moving average price is $161.29 and its 200-day moving average price is $157.09. Mid-America Apartment Communities, Inc. has a one year low of $123.73 and a one year high of $173.38. The firm has a market cap of $17.99 billion, a price-to-earnings ratio of 34.35, a PEG ratio of 3.72 and a beta of 0.79. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 135.27%.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the completion of the transaction, the chief executive officer now owns 319,813 shares of the company's stock, valued at $47,949,563.09. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 7,140 shares of company stock valued at $1,142,842 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MAA. JMP Securities restated a "market outperform" rating and set a $160.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, February 11th. Truist Financial raised their price target on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a "buy" rating in a research report on Monday, March 10th. Wells Fargo & Company dropped their price objective on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Morgan Stanley raised shares of 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 report on Friday, January 24th. Finally, Scotiabank upgraded Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and raised their target price for the company from $173.00 to $182.00 in a research report on Friday, February 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $168.76.

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.