Lazard Asset Management LLC Cuts Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Lazard Asset Management LLC cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAAGet Rating) by 55.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,601 shares of the real estate investment trust’s stock after selling 2,006 shares during the quarter. Lazard Asset Management LLC’s holdings in Mid-America Apartment Communities were worth $367,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. UMB Bank N A MO purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $30,000. Delta Asset Management LLC TN increased its position in shares of Mid-America Apartment Communities by 2.4% in the fourth quarter. Delta Asset Management LLC TN now owns 12,986 shares of the real estate investment trust’s stock valued at $2,980,000 after buying an additional 305 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Mid-America Apartment Communities by 49.8% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 95,494 shares of the real estate investment trust’s stock valued at $21,909,000 after buying an additional 31,747 shares in the last quarter. Checchi Capital Advisers LLC purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $218,000. Finally, First Republic Investment Management Inc. increased its position in shares of Mid-America Apartment Communities by 5.3% in the fourth quarter. First Republic Investment Management Inc. now owns 4,912 shares of the real estate investment trust’s stock valued at $1,127,000 after buying an additional 247 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

In other news, COO Thomas L. Grimes, Jr. sold 20,000 shares of the company’s stock in a transaction on Friday, April 29th. The stock was sold at an average price of $202.50, for a total value of $4,050,000.00. Following the transaction, the chief operating officer now owns 44,983 shares of the company’s stock, valued at approximately $9,109,057.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.34% of the company’s stock.

A number of analysts have recently commented on MAA shares. StockNews.com began coverage on Mid-America Apartment Communities in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Piper Sandler lowered their price target on Mid-America Apartment Communities from $240.00 to $230.00 in a research note on Wednesday, May 4th. JPMorgan Chase & Co. lifted their price target on Mid-America Apartment Communities from $210.00 to $238.00 in a research note on Tuesday, January 18th. BTIG Research began coverage on Mid-America Apartment Communities in a research note on Monday, May 9th. They issued a “buy” rating and a $225.00 price target on the stock. Finally, Truist Financial lowered their price target on Mid-America Apartment Communities from $231.00 to $220.00 in a research note on Thursday, March 3rd. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $211.09.

NYSE MAA opened at $179.76 on Friday. The stock’s fifty day moving average is $203.67 and its two-hundred day moving average is $208.18. The firm has a market capitalization of $20.75 billion, a P/E ratio of 34.60, a price-to-earnings-growth ratio of 10.80 and a beta of 0.73. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.14 and a current ratio of 0.14. Mid-America Apartment Communities, Inc. has a fifty-two week low of $154.07 and a fifty-two week high of $231.63.

Mid-America Apartment Communities (NYSE:MAAGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.13. Mid-America Apartment Communities had a return on equity of 9.77% and a net margin of 32.66%. During the same quarter last year, the company earned $1.64 EPS. As a group, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.07 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Thursday, April 14th were paid a dividend of $1.0875 per share. This represents a $4.35 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Wednesday, April 13th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 84.30%.

Mid-America Apartment Communities Profile (Get Rating)

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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