Duff & Phelps Investment Management Co. Decreases Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Duff & Phelps Investment Management Co. decreased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 79.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,880 shares of the real estate investment trust’s stock after selling 302,950 shares during the quarter. Duff & Phelps Investment Management Co. owned about 0.07% of Mid-America Apartment Communities worth $12,375,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MAA. Johnson Investment Counsel Inc. boosted its position in Mid-America Apartment Communities by 1.1% during the second quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock worth $996,000 after acquiring an additional 77 shares during the last quarter. Telos Capital Management Inc. lifted its stake in Mid-America Apartment Communities by 0.8% in the 2nd quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock worth $1,437,000 after purchasing an additional 78 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Mid-America Apartment Communities by 1.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust’s stock worth $962,000 after purchasing an additional 82 shares during the last quarter. First Commonwealth Financial Corp PA grew its position in shares of Mid-America Apartment Communities by 2.1% in the third quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust’s stock valued at $664,000 after purchasing an additional 86 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Mid-America Apartment Communities by 6.4% in the third quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Down 0.2 %

Shares of MAA opened at $158.94 on Monday. 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 $18.58 billion, a PE ratio of 35.88, a P/E/G ratio of 2.56 and a beta of 0.90. The company’s 50-day simple moving average is $156.66 and its 200-day simple moving average is $150.94. Mid-America Apartment Communities, Inc. has a 1 year low of $121.51 and a 1 year high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly 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 net margin of 23.84% and a return on equity of 8.38%. The business had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. During the same period in the prior year, the business earned $2.29 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.70%. 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 the company. Royal Bank of Canada lowered their price objective on 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. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $138.00 to $174.00 in a research report on Monday, August 26th. BNP Paribas started coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price objective for the company. Truist Financial boosted their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus price target of $162.68.

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.