Gilman Hill Asset Management LLC Sells 425 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Gilman Hill Asset Management LLC reduced its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 11.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,424 shares of the real estate investment trust’s stock after selling 425 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Mid-America Apartment Communities were worth $529,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brown Brothers Harriman & Co. raised its holdings in Mid-America Apartment Communities by 1.4% during the third quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust’s stock worth $962,000 after acquiring an additional 82 shares in the last quarter. First Commonwealth Financial Corp PA increased its position in shares of Mid-America Apartment Communities by 2.1% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust’s stock worth $664,000 after purchasing an additional 86 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Mid-America Apartment Communities by 6.4% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 87 shares in the last quarter. Financial Advocates Investment Management boosted its holdings in shares of Mid-America Apartment Communities by 4.2% in 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 buying an additional 93 shares during the last quarter. Finally, D.A. Davidson & CO. grew its stake in shares of Mid-America Apartment Communities by 4.2% in the third quarter. D.A. Davidson & CO. now owns 2,297 shares of the real estate investment trust’s stock valued at $365,000 after buying an additional 93 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $150.44 on Tuesday. The business has a fifty day moving average price of $156.01 and a two-hundred day moving average price of $154.35. The stock has a market capitalization of $17.58 billion, a PE ratio of 33.96, a P/E/G ratio of 2.37 and a beta of 0.91. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities, Inc. has a fifty-two week low of $121.51 and a fifty-two 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 the consensus estimate of $2.18 by ($1.20). The firm had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.29 EPS. As a group, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.89 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a yield of 4.03%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Wednesday, January 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 136.79%.

Wall Street Analyst Weigh In

MAA has been the topic of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price target on shares of Mid-America Apartment Communities in a research report on Friday, January 10th. Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target for the company in a report on Monday, October 21st. Barclays initiated coverage on Mid-America Apartment Communities in a research note on Tuesday, December 17th. They issued an “equal weight” rating and a $166.00 price objective on the stock. Scotiabank reduced 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 note on Thursday, November 14th. Finally, Mizuho decreased their target price on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price 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.