Donoghue Forlines LLC Sells 303 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Donoghue Forlines LLC cut its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 7.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,747 shares of the real estate investment trust’s stock after selling 303 shares during the quarter. Donoghue Forlines LLC’s holdings in Mid-America Apartment Communities were worth $493,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at about $10,311,000. Illinois Municipal Retirement Fund raised its holdings in shares of Mid-America Apartment Communities by 531.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the real estate investment trust’s stock valued at $5,831,000 after acquiring an additional 37,299 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Mid-America Apartment Communities by 173.4% in the 1st quarter. SG Americas Securities LLC now owns 38,666 shares of the real estate investment trust’s stock valued at $5,088,000 after acquiring an additional 24,523 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at about $232,000. Finally, Mitchell Capital Management Co. raised its holdings in shares of Mid-America Apartment Communities by 46.5% in the 1st quarter. Mitchell Capital Management Co. now owns 36,123 shares of the real estate investment trust’s stock valued at $4,753,000 after acquiring an additional 11,466 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MAA shares. UBS Group raised their price objective on Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a “sell” rating in a report on Tuesday, May 14th. Scotiabank raised their price objective on Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a “sector perform” rating in a report on Tuesday, May 14th. Wells Fargo & Company raised their price objective on Mid-America Apartment Communities from $129.00 to $138.00 and gave the company an “equal weight” rating in a report on Friday, May 31st. Piper Sandler reissued a “neutral” rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Finally, Janney Montgomery Scott raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price objective on the stock in a report on Thursday, June 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus target price of $142.44.

Mid-America Apartment Communities Trading Up 0.7 %

Shares of MAA stock traded up $1.03 during trading hours on Tuesday, reaching $140.98. The company’s stock had a trading volume of 188,120 shares, compared to its average volume of 779,332. The stock has a market capitalization of $16.47 billion, a P/E ratio of 29.34, a P/E/G ratio of 3.13 and a beta of 0.85. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $156.28. The firm’s fifty day simple moving average is $137.56 and its 200 day simple moving average is $132.60. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The business had revenue of $543.60 million during the quarter, compared to the consensus estimate of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. Mid-America Apartment Communities’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.28 earnings per share. Equities research analysts expect 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 will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend is Monday, July 15th. Mid-America Apartment Communities’s payout ratio is presently 123.27%.

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.