Duff & Phelps Investment Management Co. Sells 172,970 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Duff & Phelps Investment Management Co. reduced its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 26.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 490,580 shares of the real estate investment trust’s stock after selling 172,970 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Mid-America Apartment Communities were worth $65,963,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Van ECK Associates Corp raised its position in Mid-America Apartment Communities by 14.8% during the 4th quarter. Van ECK Associates Corp now owns 47,699 shares of the real estate investment trust’s stock valued at $6,414,000 after purchasing an additional 6,155 shares in the last quarter. Anchor Capital Advisors LLC increased its holdings in Mid-America Apartment Communities by 10,178.6% during the fourth quarter. Anchor Capital Advisors LLC now owns 349,575 shares of the real estate investment trust’s stock valued at $47,004,000 after buying an additional 346,174 shares during the period. Naviter Wealth LLC increased its holdings in shares of Mid-America Apartment Communities by 12.1% in the 4th quarter. Naviter Wealth LLC now owns 7,230 shares of the real estate investment trust’s stock valued at $972,000 after acquiring an additional 782 shares during the period. HHM Wealth Advisors LLC raised its holdings in Mid-America Apartment Communities by 7.6% in the fourth quarter. HHM Wealth Advisors LLC now owns 5,594 shares of the real estate investment trust’s stock worth $752,000 after purchasing an additional 395 shares in the last quarter. Finally, Delta Investment Management LLC purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at about $870,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

NYSE:MAA traded down $0.40 during trading hours on Tuesday, hitting $130.73. 302,079 shares of the stock were exchanged, compared to its average volume of 871,113. The firm’s fifty day moving average price is $129.10 and its 200 day moving average price is $128.52. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The company has a market cap of $15.26 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.90 and a beta of 0.80. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The firm had revenue of $542.25 million during the quarter, compared to analyst estimates of $542.64 million. During the same period in the prior year, the company posted $2.32 earnings per share. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 124.84%.

Insiders Place Their Bets

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 2,807 shares of company stock valued at $353,955 over the last 90 days. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on MAA. Scotiabank raised shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the stock from $133.00 to $147.00 in a report on Tuesday, January 16th. Jefferies Financial Group reissued a “hold” rating and issued a $136.00 price target (down previously from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Truist Financial cut their price objective on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. The Goldman Sachs Group reiterated a “buy” rating and issued a $149.00 target price on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $135.00 price target on shares of Mid-America Apartment Communities in a report on Monday. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $143.06.

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.