Freedom Investment Management Inc. Sells 95 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Freedom Investment Management Inc. lowered its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.9% in the third quarter, HoldingsChannel reports. The firm owned 3,151 shares of the real estate investment trust’s stock after selling 95 shares during the period. Freedom Investment Management Inc.’s holdings in Mid-America Apartment Communities were worth $501,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $25,000. EdgeRock Capital LLC acquired a new stake in Mid-America Apartment Communities during the 2nd quarter valued at $26,000. Versant Capital Management Inc boosted its position in Mid-America Apartment Communities by 3,071.4% during the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 215 shares during the period. Activest Wealth Management acquired a new position in shares of Mid-America Apartment Communities in the third quarter valued at $32,000. Finally, UMB Bank n.a. raised its position in shares of Mid-America Apartment Communities by 82.4% in the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock opened at $164.09 on Friday. The stock has a market cap of $19.18 billion, a price-to-earnings ratio of 37.04, a P/E/G ratio of 2.66 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a twelve month low of $121.51 and a twelve month high of $167.39. The company’s fifty day moving average is $156.69 and its 200 day moving average is $149.73. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $548.53 million. During the same quarter last year, the firm posted $2.29 EPS. The company’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 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company 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. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.58%. Mid-America Apartment Communities’s payout ratio is 132.73%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price 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. Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective for the company in a report on Monday, October 21st. Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and upped their target price for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Wedbush lifted their price target on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, StockNews.com lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Two equities 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.