Daiwa Securities Group Inc. Sells 300,492 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Daiwa Securities Group Inc. cut its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 84.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,803 shares of the real estate investment trust’s stock after selling 300,492 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Mid-America Apartment Communities were worth $8,708,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. boosted its position in Mid-America Apartment Communities by 12.8% during the 2nd quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock valued at $4,352,000 after acquiring an additional 3,451 shares in the last quarter. Swedbank AB bought a new stake in shares of Mid-America Apartment Communities during the first quarter valued at approximately $26,107,000. Prosperity Consulting Group LLC purchased a new position in Mid-America Apartment Communities during the second quarter valued at $2,572,000. Portside Wealth Group LLC bought a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at $808,000. Finally, Bank of Montreal Can grew its position in shares of Mid-America Apartment Communities by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 156,374 shares of the real estate investment trust’s stock worth $22,446,000 after buying an additional 8,984 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MAA shares. BNP Paribas assumed coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price target on the stock. Royal Bank of Canada reduced their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Scotiabank dropped their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. JMP Securities increased their price target on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Finally, Truist Financial upped their price objective on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $161.64.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $162.00 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. Mid-America Apartment Communities, Inc. has a fifty-two week low of $121.51 and a fifty-two week high of $167.39. The stock has a market capitalization of $18.93 billion, a PE ratio of 36.57, a P/E/G ratio of 2.59 and a beta of 0.88. The company has a fifty day moving average of $156.76 and a two-hundred day moving average of $149.14.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The firm had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm earned $2.29 earnings per share. As a group, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a $1.47 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.63%. Mid-America Apartment Communities’s dividend payout ratio is presently 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.