Renaissance Technologies LLC Sells 33,900 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

07 Dec 2023, 13:03 by Tristan Rich · The Markets Daily

Renaissance Technologies LLC decreased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 20.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 131,049 shares of the real estate investment trust’s stock after selling 33,900 shares during the quarter. Renaissance Technologies LLC owned about 0.11% of Mid-America Apartment Communities worth $19,901,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAA. American Century Companies Inc. boosted its position in shares of Mid-America Apartment Communities by 228.2% during the first quarter. American Century Companies Inc. now owns 3,984 shares of the real estate investment trust’s stock worth $834,000 after acquiring an additional 2,770 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of Mid-America Apartment Communities by 62.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,148 shares of the real estate investment trust’s stock worth $1,078,000 after acquiring an additional 1,974 shares during the last quarter. Cetera Advisor Networks LLC boosted its position in shares of Mid-America Apartment Communities by 22.1% during the first quarter. Cetera Advisor Networks LLC now owns 1,794 shares of the real estate investment trust’s stock worth $376,000 after acquiring an additional 325 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Mid-America Apartment Communities during the first quarter worth $393,000. Finally, Sei Investments Co. boosted its position in shares of Mid-America Apartment Communities by 7.5% during the first quarter. Sei Investments Co. now owns 50,699 shares of the real estate investment trust’s stock worth $10,619,000 after acquiring an additional 3,544 shares during the last quarter. Institutional investors own 93.42% of the company’s stock.

Mid-America Apartment Communities Trading Up 0.5 %

MAA stock opened at $127.13 on Thursday. The company has a market capitalization of $14.83 billion, a PE ratio of 25.38, a P/E/G ratio of 7.35 and a beta of 0.81. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $176.36. The firm’s 50-day moving average is $125.38 and its 200 day moving average is $139.31. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.26 and a quick ratio of 0.26.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 13th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend was Thursday, October 12th. Mid-America Apartment Communities’s dividend payout ratio is presently 111.78%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MAA shares. Piper Sandler lowered shares of Mid-America Apartment Communities from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $182.00 to $130.00 in a research report on Tuesday, October 31st. StockNews.com started coverage on shares of Mid-America Apartment Communities in a research report on Thursday, October 5th. They set a “hold” rating for the company. Wells Fargo & Company lowered their price objective on shares of Mid-America Apartment Communities from $156.50 to $148.50 and set an “equal weight” rating for the company in a research report on Tuesday, September 12th. Colliers Securities upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $144.00 price objective for the company in a research report on Tuesday, November 28th. Finally, Citigroup lowered their price objective on shares of Mid-America Apartment Communities from $175.00 to $159.00 and set a “neutral” rating for the company in a research report on Tuesday, August 22nd. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $154.44.

Get Our Latest Stock Report on Mid-America Apartment Communities

Insider Buying and Selling

In related news, Director William Reid Sanders purchased 2,000 shares of Mid-America Apartment Communities stock in a transaction that occurred on Wednesday, November 1st. The shares were bought at an average price of $115.74 per share, with a total value of $231,480.00. Following the purchase, the director now directly owns 28,627 shares of the company’s stock, valued at approximately $3,313,288.98. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.33% of the stock is currently owned by insiders.

Mid-America Apartment Communities Company Profile

(Free Report)

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.