Fmr LLC Sells 694,840 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Fmr LLC lowered its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 13.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,344,134 shares of the real estate investment trust’s stock after selling 694,840 shares during the period. Fmr LLC owned 3.72% of Mid-America Apartment Communities worth $690,283,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at $25,000. EdgeRock Capital LLC acquired a new position in Mid-America Apartment Communities during the second quarter worth $26,000. Activest Wealth Management bought a new position in shares of Mid-America Apartment Communities in the third quarter valued at $32,000. Versant Capital Management Inc grew its holdings in shares of 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 valued at $32,000 after buying an additional 215 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Mid-America Apartment Communities during the third quarter worth about $37,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 1.3 %

Shares of MAA stock opened at $165.20 on Friday. Mid-America Apartment Communities, Inc. has a 12-month low of $121.51 and a 12-month high of $167.39. 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 company has a 50 day moving average of $156.68 and a 200-day moving average of $149.63. The firm has a market cap of $19.31 billion, a P/E ratio of 37.29, a PEG ratio of 2.61 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.20). The firm had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.29 earnings per share. Sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.56%. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MAA. Scotiabank cut their price target on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a research note on Thursday, November 14th. Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their target price for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Royal Bank of Canada lowered their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Piper Sandler raised their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Finally, Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and an average price target 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.