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

SeaCrest Wealth Management LLC lessened its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 14.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,747 shares of the real estate investment trust’s stock after selling 1,151 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Mid-America Apartment Communities were worth $1,043,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MAA. Ashton Thomas Securities LLC purchased a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $25,000. Activest Wealth Management purchased a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $32,000. Catalyst Capital Advisors LLC purchased a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $37,000. Quarry LP purchased a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $45,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Mid-America Apartment Communities by 252.3% during the 2nd 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 during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Down 1.2 %

Shares of NYSE MAA opened at $149.58 on Thursday. The stock has a market cap of $17.48 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 2.53 and a beta of 0.91. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The business has a 50-day moving average price of $156.45 and a 200 day moving average price of $154.04.

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

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.515 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 annualized dividend and a yield of 4.05%. Mid-America Apartment Communities’s dividend payout ratio is currently 136.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MAA shares. Barclays initiated coverage on Mid-America Apartment Communities in a report on Tuesday, December 17th. They set an “equal weight” rating and a $166.00 price target on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, January 10th. Royal Bank of Canada lowered their price objective on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. KeyCorp raised 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. Finally, Scotiabank lowered their price objective 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities has an average rating of “Hold” and an average price target of $166.92.

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.