Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,616,233 shares of the real estate investment trust’s stock after selling 16,927 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Mid-America Apartment Communities were worth $415,719,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MAA. Dimensional Fund Advisors LP lifted its position in Mid-America Apartment Communities by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock worth $244,803,000 after acquiring an additional 97,672 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Mid-America Apartment Communities by 2.8% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock worth $234,497,000 after purchasing an additional 44,621 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Mid-America Apartment Communities by 7.0% in the second quarter. 1832 Asset Management L.P. now owns 1,140,287 shares of the real estate investment trust’s stock valued at $162,616,000 after purchasing an additional 74,936 shares during the period. Ceredex Value Advisors LLC grew its holdings in Mid-America Apartment Communities by 107.1% during the 2nd quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock valued at $94,424,000 after purchasing an additional 342,335 shares in the last quarter. Finally, Long Pond Capital LP lifted its holdings in Mid-America Apartment Communities by 550.9% in the 2nd 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. 93.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAA has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. 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 objective on the stock in a research note on Monday, October 21st. JMP Securities raised their price target on Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Scotiabank reduced their target price on shares of 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. Finally, Truist Financial boosted their price target on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus target price of $161.64.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $158.67 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market capitalization of $18.55 billion, a PE ratio of 35.82, a P/E/G ratio of 2.55 and a beta of 0.88. The stock has a 50-day simple moving average of $156.87 and a 200 day simple moving average of $148.77. Mid-America Apartment Communities, Inc. has a twelve month low of $121.38 and a twelve month high of $167.39.

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). The company had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.29 EPS. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.71%. Mid-America Apartment Communities’s payout ratio is presently 132.73%.

About Mid-America Apartment Communities

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.