Massachusetts Financial Services Co. MA Cuts Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Massachusetts Financial Services Co. MA reduced its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,616,233 shares of the real estate investment trust’s stock after selling 16,927 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.24% of Mid-America Apartment Communities worth $415,719,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of MAA. Johnson Investment Counsel Inc. boosted its position in Mid-America Apartment Communities by 1.1% during the second quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock worth $996,000 after purchasing an additional 77 shares in the last quarter. Telos Capital Management Inc. increased its stake in Mid-America Apartment Communities by 0.8% during the 2nd quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock worth $1,437,000 after buying an additional 78 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Mid-America Apartment Communities by 6.4% during the third quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 87 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Mid-America Apartment Communities by 5.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 90 shares during the last quarter. Finally, Financial Advocates Investment Management boosted its position in shares of Mid-America Apartment Communities by 4.2% during the 3rd quarter. Financial Advocates Investment Management now owns 2,308 shares of the real estate investment trust’s stock valued at $367,000 after acquiring an additional 93 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MAA has been the topic of several analyst reports. Raymond James raised 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 report on Monday, October 21st. 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 report on Tuesday, September 10th. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 target price for the company. Scotiabank lowered their price objective on shares of 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. Finally, Truist Financial lifted their target price 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 given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $161.64.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $158.67 on Friday. 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 $18.55 billion, a PE ratio of 35.82, a P/E/G ratio of 2.55 and a beta of 0.88. The stock has a fifty day moving average price of $156.87 and a 200 day moving average price of $148.77. Mid-America Apartment Communities, Inc. has a 1-year low of $121.38 and a 1-year high of $167.39.

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

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.71%. Mid-America Apartment Communities’s payout ratio is 132.73%.

Mid-America Apartment Communities Company 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.