Sarasin & Partners LLP Reduces Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Sarasin & Partners LLP decreased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 34.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,035 shares of the real estate investment trust’s stock after selling 7,915 shares during the quarter. Sarasin & Partners LLP’s holdings in Mid-America Apartment Communities were worth $2,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Duquesne Family Office LLC purchased a new position in Mid-America Apartment Communities in the second quarter worth $91,868,000. Long Pond Capital LP raised its stake in Mid-America Apartment Communities by 550.9% in the second quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock worth $92,270,000 after buying an additional 547,607 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Mid-America Apartment Communities by 17.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after purchasing an additional 393,067 shares in the last quarter. Ceredex Value Advisors LLC grew its stake in shares of Mid-America Apartment Communities by 107.1% in 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 stake in Mid-America Apartment Communities by 176.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 339,081 shares of the real estate investment trust’s stock valued at $48,356,000 after buying an additional 216,610 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Analysts Set New Price Targets

MAA has been the subject of several recent analyst reports. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price for the company. Wedbush increased their target price on shares of 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, Scotiabank increased their price objective on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $159.91.

Mid-America Apartment Communities Price Performance

Shares of Mid-America Apartment Communities stock traded up $1.02 on Friday, reaching $153.23. The company’s stock had a trading volume of 30,587 shares, compared to its average volume of 760,890. The company has a market capitalization of $17.91 billion, a P/E ratio of 34.67, a PEG ratio of 2.47 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $167.39. The stock has a 50-day moving average price of $157.84 and a 200-day moving average price of $143.35. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 133.94%.

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.