Clean Yield Group Trims Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Clean Yield Group lowered its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 21.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,248 shares of the real estate investment trust’s stock after selling 350 shares during the quarter. Clean Yield Group’s holdings in Mid-America Apartment Communities were worth $193,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Mid-America Apartment Communities during the 3rd quarter valued at $25,000. Activest Wealth Management purchased a new position in shares of Mid-America Apartment Communities in the third quarter valued at about $32,000. Catalyst Capital Advisors LLC purchased a new position in shares of Mid-America Apartment Communities in the third quarter valued at about $37,000. Quarry LP bought a new position in shares of Mid-America Apartment Communities in the third quarter worth about $45,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Mid-America Apartment Communities by 252.3% during the second quarter. EverSource Wealth Advisors LLC now owns 391 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 280 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Up 1.1 %

Mid-America Apartment Communities stock traded up $1.67 during trading hours on Monday, reaching $149.86. The stock had a trading volume of 332,937 shares, compared to its average volume of 586,651. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $17.52 billion, a price-to-earnings ratio of 33.83, a PEG ratio of 2.53 and a beta of 0.91. The business’s 50 day moving average price is $156.65 and its 200-day moving average price is $153.94. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share 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 return on equity of 8.38% and a net margin of 23.84%. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 EPS. Sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $1.515 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.04%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 136.79%.

Wall Street Analyst Weigh In

Several brokerages have commented on MAA. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a research note on Monday, October 21st. Scotiabank decreased their target price on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Barclays assumed coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $166.00 target price for the company. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 price target on shares of Mid-America Apartment Communities in a research note on Friday. Finally, KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus target price of $166.92.

Mid-America Apartment Communities Profile

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.