Thrivent Financial for Lutherans Sells 1,290 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Thrivent Financial for Lutherans lowered its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 9.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,517 shares of the real estate investment trust’s stock after selling 1,290 shares during the period. Thrivent Financial for Lutherans’ holdings in Mid-America Apartment Communities were worth $1,989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Mid-America Apartment Communities during the third quarter valued at approximately $25,000. EdgeRock Capital LLC purchased a new position in Mid-America Apartment Communities during the second quarter valued at $26,000. Versant Capital Management Inc boosted its holdings in Mid-America Apartment Communities by 3,071.4% in the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 215 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of Mid-America Apartment Communities in the third quarter worth $37,000. Finally, UMB Bank n.a. increased 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 valued at $34,000 after acquiring an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $165.20 on Friday. 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 firm has a market capitalization of $19.31 billion, a P/E ratio of 37.29, a PEG ratio of 2.61 and a beta of 0.88. The company has a 50-day moving average price of $156.68 and a 200-day moving average price of $149.63. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly 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 return on equity of 8.38% and a net margin of 23.84%. The business had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same quarter in the previous year, the business posted $2.29 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share 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. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.56%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MAA. Royal Bank of Canada dropped their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. StockNews.com cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. JMP Securities increased their target price on Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Finally, BNP Paribas initiated coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price target for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $162.68.

Mid-America Apartment Communities 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.