Fmr LLC Sells 694,840 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Fmr LLC lowered its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 13.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,344,134 shares of the real estate investment trust’s stock after selling 694,840 shares during the quarter. Fmr LLC’s holdings in Mid-America Apartment Communities were worth $690,283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MAA. Ashton Thomas Securities LLC bought a new position in shares of Mid-America Apartment Communities in the third quarter worth $25,000. EdgeRock Capital LLC bought a new position in Mid-America Apartment Communities in the 2nd quarter worth about $26,000. Versant Capital Management Inc raised its holdings in shares of Mid-America Apartment Communities by 3,071.4% in the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 215 shares in the last quarter. Activest Wealth Management bought a new stake in shares of Mid-America Apartment Communities during the 3rd quarter valued at about $32,000. Finally, UMB Bank n.a. grew its holdings in shares of Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Truist Financial increased their target price on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Scotiabank cut 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 report on Thursday, November 14th. Finally, Wells Fargo & Company upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $138.00 to $174.00 in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus price target of $162.68.

Mid-America Apartment Communities Trading Up 1.3 %

NYSE:MAA opened at $165.20 on Friday. The firm has a market capitalization of $19.31 billion, a P/E ratio of 37.29, a P/E/G ratio of 2.61 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The company has a fifty day moving average of $156.68 and a 200 day moving average of $149.63.

Mid-America Apartment Communities (NYSE:MAA) last issued 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). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. During the same period last year, the company posted $2.29 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. On average, research analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.56%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 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.