Foresight Group Ltd Liability Partnership Sells 2,835 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Foresight Group Ltd Liability Partnership cut its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 19.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,116 shares of the real estate investment trust’s stock after selling 2,835 shares during the quarter. Mid-America Apartment Communities accounts for about 1.1% of Foresight Group Ltd Liability Partnership’s portfolio, making the stock its 15th biggest holding. Foresight Group Ltd Liability Partnership’s holdings in Mid-America Apartment Communities were worth $1,854,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MAA. Ashton Thomas Securities LLC acquired a new stake in Mid-America Apartment Communities during the third quarter worth about $25,000. Activest Wealth Management bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $32,000. Catalyst Capital Advisors LLC acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $37,000. Quarry LP bought a new stake in shares of Mid-America Apartment Communities during the third quarter valued at approximately $45,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Mid-America Apartment Communities by 252.3% in the second quarter. EverSource Wealth Advisors LLC now owns 391 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 280 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Scotiabank decreased their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, January 10th. StockNews.com cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Raymond James raised shares of 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 research report on Monday, October 21st. Finally, Royal Bank of Canada decreased their price objective on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $166.92.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA opened at $150.55 on Friday. The business has a fifty day moving average of $156.37 and a 200-day moving average of $154.01. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. Mid-America Apartment Communities, Inc. has a twelve month low of $121.51 and a twelve month high of $167.39. The firm has a market cap of $17.60 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91.

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). 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 analyst estimates of $548.53 million. During the same quarter in the previous year, the business posted $2.29 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that Mid-America Apartment Communities, Inc. will post 8.89 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a $1.515 dividend. This represents a $6.06 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s payout ratio is 132.73%.

Mid-America Apartment Communities Company 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.