Baker Ellis Asset Management LLC Decreases Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Baker Ellis Asset Management LLC cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,700 shares of the real estate investment trust’s stock after selling 765 shares during the period. Baker Ellis Asset Management LLC’s holdings in Mid-America Apartment Communities were worth $4,829,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ameliora Wealth Management Ltd. purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth about $158,000. Pasadena Private Wealth LLC boosted its position in shares of Mid-America Apartment Communities by 43.5% in the 1st quarter. Pasadena Private Wealth LLC now owns 2,674 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 811 shares in the last quarter. Vert Asset Management LLC purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth about $397,000. Gilman Hill Asset Management LLC raised its stake in Mid-America Apartment Communities by 48.3% in the 1st quarter. Gilman Hill Asset Management LLC now owns 3,469 shares of the real estate investment trust’s stock valued at $456,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC acquired a new position in Mid-America Apartment Communities in the 1st quarter valued at about $441,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MAA has been the subject of several analyst reports. Wedbush raised shares of Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $135.00 to $154.00 in a research note on Monday, May 6th. UBS Group boosted their target price on shares of Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a “sell” rating in a research note on Tuesday, May 14th. Mizuho boosted their target price on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Scotiabank boosted their target price on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Finally, Piper Sandler reissued a “neutral” rating and issued a $140.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $142.44.

Mid-America Apartment Communities Trading Up 1.5 %

MAA traded up $2.07 on Friday, reaching $142.61. 844,915 shares of the company’s stock were exchanged, compared to its average volume of 584,861. The company’s 50 day moving average is $135.43 and its 200-day moving average is $132.18. The company has a market cap of $16.66 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 3.13 and a beta of 0.84. Mid-America Apartment Communities, Inc. has a twelve month low of $115.56 and a twelve month high of $158.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.12 and a current ratio of 0.12.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The business had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the company posted $2.28 EPS. Equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

Insiders Place Their Bets

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the transaction, the chief executive officer now owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a document filed 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. 1.30% of the stock is owned by company insiders.

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.