Mid-America Apartment Communities, Inc. (NYSE:MAA) Position Trimmed by Prudential Financial Inc.

Prudential Financial Inc. trimmed its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 290,346 shares of the real estate investment trust’s stock after selling 5,232 shares during the quarter. Prudential Financial Inc. owned 0.25% of Mid-America Apartment Communities worth $44,879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in MAA. IFP Advisors Inc increased its stake in Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 68 shares during the period. Quarry LP acquired a new position in shares of Mid-America Apartment Communities in the third quarter worth $45,000. UMB Bank n.a. raised its holdings in shares of Mid-America Apartment Communities by 30.5% during the fourth quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 75 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in Mid-America Apartment Communities by 57.8% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock valued at $56,000 after purchasing an additional 133 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Mid-America Apartment Communities in the third quarter valued at about $63,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets cut their price target on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a research note on Tuesday, January 21st. Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and lifted their target price for the company from $148.00 to $190.00 in a research note on Monday, March 10th. Truist Financial increased 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 note on Monday, March 10th. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a research note on Tuesday, December 17th. Finally, Barclays increased their target price on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Mid-America Apartment Communities has an average rating of “Moderate Buy” and a consensus price target of $168.90.

Mid-America Apartment Communities Stock Performance

NYSE MAA opened at $163.19 on Wednesday. The company’s fifty day moving average is $158.72 and its two-hundred day moving average is $157.48. Mid-America Apartment Communities, Inc. has a 52-week low of $123.73 and a 52-week high of $173.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $19.08 billion, a price-to-earnings ratio of 36.43, a P/E/G ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 135.27%.

About Mid-America Apartment Communities

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.