Chartwell Investment Partners LLC Reduces Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Chartwell Investment Partners LLC lowered its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 7.9% during the third quarter, Holdings Channel reports. The fund owned 23,917 shares of the real estate investment trust’s stock after selling 2,041 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Mid-America Apartment Communities were worth $3,800,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in Mid-America Apartment Communities during the third quarter worth approximately $25,000. EdgeRock Capital LLC acquired a new stake in Mid-America Apartment Communities during the second quarter worth approximately $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 acquiring an additional 215 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Mid-America Apartment Communities by 82.4% in the 2nd 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 last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $160.02 on Tuesday. 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, Inc. has a fifty-two week low of $118.72 and a fifty-two week high of $167.39. The firm has a 50-day simple moving average of $157.48 and a 200 day simple moving average of $147.46. The company has a market cap of $18.70 billion, a PE ratio of 36.12, a P/E/G ratio of 2.56 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last posted 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). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm 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 company posted $2.29 EPS. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, sell-side analysts anticipate 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 announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 132.73%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MAA shares. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a report on Monday, October 21st. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price target for the company from $144.00 to $189.00 in a 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 raised their target price for the company from $138.00 to $174.00 in a research note on Monday, August 26th. UBS Group lifted their price target on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $161.69.

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.