River Road Asset Management LLC reduced its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 26.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,934 shares of the real estate investment trust’s stock after selling 127,073 shares during the period. River Road Asset Management LLC’s holdings in Mid-America Apartment Communities were worth $56,876,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MAA. EdgeRock Capital LLC acquired a new position in shares of Mid-America Apartment Communities in the second quarter worth $26,000. Versant Capital Management Inc increased its position in Mid-America Apartment Communities by 3,071.4% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 215 shares in the last quarter. UMB Bank n.a. raised its stake in Mid-America Apartment Communities by 82.4% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $37,000. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Mid-America Apartment Communities by 305.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 316 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on MAA shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Wells Fargo & Company upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $138.00 to $174.00 in a report on Monday, August 26th. BNP Paribas assumed coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price target on the stock. Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Finally, Royal Bank of Canada reduced their target price on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $161.69.
Mid-America Apartment Communities Trading Up 2.0 %
Shares of MAA opened at $152.18 on Tuesday. Mid-America Apartment Communities, Inc. has a one year low of $118.68 and a one year high of $167.39. The stock has a 50-day moving average price of $157.98 and a 200 day moving average price of $146.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $17.79 billion, a P/E ratio of 34.35, a P/E/G ratio of 2.40 and a beta of 0.88.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The business had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.29 earnings per share. Sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.
Mid-America Apartment Communities Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.86%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is currently 132.73%.
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.
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