Leavell Investment Management Inc. Sells 10,779 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Leavell Investment Management Inc. reduced its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,515 shares of the real estate investment trust’s stock after selling 10,779 shares during the period. Mid-America Apartment Communities makes up approximately 0.9% of Leavell Investment Management Inc.’s holdings, making the stock its 21st largest holding. Leavell Investment Management Inc. owned approximately 0.10% of Mid-America Apartment Communities worth $15,331,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. First United Bank & Trust acquired a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at $27,000. Mather Group LLC. bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at $32,000. Cullen Frost Bankers Inc. bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at $35,000. First Financial Corp IN increased its position in shares of Mid-America Apartment Communities by 40.8% in the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 86 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in Mid-America Apartment Communities during the 4th quarter worth about $40,000. 93.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 2,807 shares of company stock valued at $353,955. Corporate insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Trading Down 2.3 %

MAA stock traded down $3.10 during midday trading on Thursday, hitting $132.90. The stock had a trading volume of 588,823 shares, compared to its average volume of 841,124. The business has a fifty day moving average price of $131.31 and a two-hundred day moving average price of $129.64. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $158.46. The firm has a market cap of $15.53 billion, a P/E ratio of 27.86, a price-to-earnings-growth ratio of 3.04 and a beta of 0.80. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($1.01). The company had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. Mid-America Apartment Communities’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.28 EPS. On average, sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.87 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Monday, July 15th. Mid-America Apartment Communities’s payout ratio is 123.27%.

Analyst Upgrades and Downgrades

MAA has been the subject of a number of research reports. Wedbush upgraded Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $135.00 to $154.00 in a report on Monday, May 6th. Morgan Stanley raised their price objective on Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a report on Wednesday, May 15th. UBS Group raised their price objective on Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a “sell” rating in a report on Tuesday, May 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Finally, Piper Sandler restated a “neutral” rating and issued a $140.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $144.18.

About Mid-America Apartment Communities

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.