Long Pond Capital LP Sells 272,913 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Long Pond Capital LP lowered its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 45.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 330,210 shares of the real estate investment trust’s stock after selling 272,913 shares during the period. Mid-America Apartment Communities accounts for about 1.6% of Long Pond Capital LP’s holdings, making the stock its 24th biggest holding. Long Pond Capital LP’s holdings in Mid-America Apartment Communities were worth $47,669,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MAA. Norges Bank bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at about $154,432,000. JPMorgan Chase & Co. raised its stake in Mid-America Apartment Communities by 27.2% in the 1st quarter. JPMorgan Chase & Co. now owns 4,370,269 shares of the real estate investment trust’s stock worth $630,891,000 after purchasing an additional 934,847 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Mid-America Apartment Communities by 2,535.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 968,420 shares of the real estate investment trust’s stock valued at $139,801,000 after purchasing an additional 931,672 shares during the period. Northern Trust Corp grew its position in shares of Mid-America Apartment Communities by 19.4% during the 4th quarter. Northern Trust Corp now owns 2,207,230 shares of the real estate investment trust’s stock worth $279,634,000 after purchasing an additional 358,891 shares in the last quarter. Finally, Cbre Clarion Securities LLC increased its holdings in shares of Mid-America Apartment Communities by 36.9% during the first quarter. Cbre Clarion Securities LLC now owns 1,005,392 shares of the real estate investment trust’s stock worth $145,138,000 after purchasing an additional 270,747 shares during the period. 91.74% of the stock is owned by institutional investors.

Shares of MAA traded down $0.45 on Friday, reaching $171.08. 9,154 shares of the company’s stock traded hands, compared to its average volume of 655,309. The firm has a market capitalization of $19.59 billion, a PE ratio of 74.65, a PEG ratio of 12.69 and a beta of 0.66. The business has a 50 day moving average price of $156.27. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.09 and a current ratio of 0.09. Mid-America Apartment Communities, Inc. has a 52-week low of $108.06 and a 52-week high of $172.33.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Tuesday, April 27th. The real estate investment trust reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($1.21). The firm had revenue of $425.01 million during the quarter, compared to the consensus estimate of $423.65 million. Mid-America Apartment Communities had a net margin of 15.76% and a return on equity of 4.33%. Mid-America Apartment Communities’s revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 earnings per share. As a group, analysts forecast that Mid-America Apartment Communities, Inc. will post 6.54 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Thursday, July 15th will be issued a $1.025 dividend. The ex-dividend date of this dividend is Wednesday, July 14th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 2.40%. Mid-America Apartment Communities’s payout ratio is 63.76%.

In other Mid-America Apartment Communities news, COO Thomas L. Grimes, Jr. sold 683 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $146.44, for a total value of $100,018.52. Following the completion of the sale, the chief operating officer now directly owns 82,192 shares in the company, valued at $12,036,196.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Melanie Carpenter sold 677 shares of the business’s stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $146.44, for a total transaction of $99,139.88. Following the sale, the executive vice president now owns 18,306 shares in the company, valued at approximately $2,680,730.64. The disclosure for this sale can be found here. Insiders sold a total of 41,671 shares of company stock valued at $6,415,840 in the last ninety days. 1.39% of the stock is owned by corporate insiders.

MAA has been the subject of several analyst reports. Raymond James lifted their price objective on Mid-America Apartment Communities from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, May 11th. Truist Securities upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and boosted their target price for the company from $151.00 to $178.00 in a research report on Friday, June 4th. Royal Bank of Canada initiated coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, March 30th. They set a “sector perform” rating and a $146.00 price target on the stock. BMO Capital Markets downgraded shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $147.00 to $170.00 in a research report on Tuesday, June 1st. Finally, Mizuho raised their target price on Mid-America Apartment Communities from $128.00 to $143.00 and gave the company a “neutral” rating in a report on Monday, March 15th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Mid-America Apartment Communities currently has an average rating of “Buy” and an average price target of $149.08.

Mid-America Apartment Communities Profile

MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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