MetLife Investment Management LLC Has $5.39 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

MetLife Investment Management LLC lessened its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 33,923 shares of the real estate investment trust’s stock after selling 788 shares during the quarter. MetLife Investment Management LLC’s holdings in Mid-America Apartment Communities were worth $5,390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $25,000. EdgeRock Capital LLC bought a new position in shares of Mid-America Apartment Communities during the second quarter worth approximately $26,000. Versant Capital Management Inc lifted its holdings in Mid-America Apartment Communities by 3,071.4% during the 2nd 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 last quarter. Activest Wealth Management bought a new stake in Mid-America Apartment Communities in the 3rd quarter valued at $32,000. Finally, UMB Bank n.a. grew its holdings in 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 buying an additional 108 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Down 0.6 %

Shares of NYSE MAA opened at $164.16 on Friday. The company has a market cap of $19.19 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.66 and a beta of 0.88. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 12 month low of $121.51 and a 12 month high of $167.39. The stock has a 50-day moving average price of $156.72 and a two-hundred day moving average price of $149.93.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. During the same quarter in the prior year, the company earned $2.29 earnings per share. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.58%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

Wall Street Analyst Weigh In

MAA has been the subject of a number of research reports. Royal Bank of Canada dropped their target price on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Wedbush lifted their price objective on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a “buy” rating and a $187.00 target price on the stock. BNP Paribas initiated coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price target on the stock. Finally, Truist Financial lifted their price objective on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Hold” and an average price target of $162.68.

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.