Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance reduced its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.8% in the third quarter, HoldingsChannel reports. The fund owned 1,978 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Independent Advisor Alliance’s holdings in Mid-America Apartment Communities were worth $314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MAA. Massachusetts Financial Services Co. MA increased its position in shares of Mid-America Apartment Communities by 17.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after purchasing an additional 393,067 shares during the period. Dimensional Fund Advisors LP grew its holdings in Mid-America Apartment Communities by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock worth $244,803,000 after acquiring an additional 97,672 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Mid-America Apartment Communities by 2.8% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock worth $234,497,000 after acquiring an additional 44,621 shares during the period. Charles Schwab Investment Management Inc. raised its position in Mid-America Apartment Communities by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,355,585 shares of the real estate investment trust’s stock worth $215,402,000 after acquiring an additional 39,123 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in Mid-America Apartment Communities by 7.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,140,287 shares of the real estate investment trust’s stock valued at $162,616,000 after acquiring an additional 74,936 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Up 1.3 %

Mid-America Apartment Communities stock opened at $165.20 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 1-year low of $121.51 and a 1-year high of $167.39. The firm’s fifty day simple moving average is $156.68 and its 200-day simple moving average is $149.63. The company 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 (NYSE:MAA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share 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 company had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. During the same quarter last year, the business earned $2.29 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 1.7% on a year-over-year basis. Sell-side 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. Stockholders of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 132.73%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MAA shares. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Piper Sandler lifted their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. StockNews.com downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. JMP Securities lifted their price target on Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Finally, Scotiabank reduced 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 note on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $162.68.

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.