Oppenheimer Asset Management Inc. Trims Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Oppenheimer Asset Management Inc. trimmed its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,489 shares of the real estate investment trust’s stock after selling 112 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Mid-America Apartment Communities were worth $396,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Duquesne Family Office LLC acquired a new stake in shares of Mid-America Apartment Communities in the second quarter worth approximately $91,868,000. Long Pond Capital LP grew its stake in shares of Mid-America Apartment Communities by 550.9% during the 2nd quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock valued at $92,270,000 after buying an additional 547,607 shares during the period. Massachusetts Financial Services Co. MA increased its holdings 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 worth $375,515,000 after buying an additional 393,067 shares during the last quarter. Ceredex Value Advisors LLC increased its holdings in shares of Mid-America Apartment Communities by 107.1% during the 2nd quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock worth $94,424,000 after buying an additional 342,335 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Mid-America Apartment Communities by 176.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 339,081 shares of the real estate investment trust’s stock worth $48,356,000 after buying an additional 216,610 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Analysts Set New Price Targets

MAA has been the subject of several research analyst reports. Royal Bank of Canada dropped their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and increased their target price for the stock from $144.00 to $189.00 in a research report on Monday, August 12th. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $138.00 to $174.00 in a research report on Monday, August 26th. BNP Paribas started coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their target price 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $161.64.

Mid-America Apartment Communities Stock Down 0.2 %

NYSE:MAA opened at $158.13 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $18.48 billion, a price-to-earnings ratio of 35.70, a price-to-earnings-growth ratio of 2.54 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a one year low of $120.32 and a one year high of $167.39. The stock has a 50-day simple moving average of $157.12 and a 200 day simple moving average of $148.64.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results 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 firm had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 EPS. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued 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 3.72%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 132.73%.

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.