Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by West Oak Capital LLC

West Oak Capital LLC lessened its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,850 shares of the real estate investment trust’s stock after selling 170 shares during the period. West Oak Capital LLC’s holdings in Mid-America Apartment Communities were worth $248,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MAA. Cullen Frost Bankers Inc. acquired a new position in Mid-America Apartment Communities in the third quarter worth about $35,000. ST Germain D J Co. Inc. bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at approximately $36,000. First Financial Corp IN raised its position in shares of Mid-America Apartment Communities by 40.8% during the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 86 shares in the last quarter. CVA Family Office LLC bought a new position in Mid-America Apartment Communities during the fourth quarter worth $40,000. Finally, Quarry LP boosted its holdings in Mid-America Apartment Communities by 186.5% in the first quarter. Quarry LP now owns 275 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 179 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 0.7 %

MAA stock traded up $0.90 during mid-day trading on Thursday, reaching $131.70. 144,302 shares of the stock traded hands, compared to its average volume of 911,559. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The stock’s fifty day moving average is $129.20 and its 200-day moving average is $129.14. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72. The company has a market cap of $15.37 billion, a P/E ratio of 27.78, a P/E/G ratio of 4.12 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The business had revenue of $542.25 million for the quarter, compared to analysts’ expectations of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.32 EPS. As a group, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.94 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $1.47 dividend. The ex-dividend date is Friday, April 12th. This represents a $5.88 annualized dividend and a dividend yield of 4.46%. Mid-America Apartment Communities’s payout ratio is 124.84%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. 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 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $136.00 target price on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Piper Sandler reissued a “neutral” rating and set a $140.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday. Morgan Stanley lifted their price objective on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Finally, Scotiabank raised Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the company from $133.00 to $147.00 in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $143.76.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 371 shares of the firm’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $131.33, for a total transaction of $48,723.43. Following the transaction, the executive vice president now directly owns 19,067 shares in the company, valued at $2,504,069.11. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO H Eric Bolton, Jr. sold 4,028 shares of the stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the sale, the chief executive officer now directly owns 304,523 shares of the company’s stock, valued at $39,651,939.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Melanie Carpenter sold 371 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $131.33, for a total transaction of $48,723.43. Following the transaction, the executive vice president now directly owns 19,067 shares in the company, valued at approximately $2,504,069.11. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by company insiders.

Mid-America Apartment Communities Company 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.