Gold Investment Management Ltd. Trims Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Gold Investment Management Ltd. lessened its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,176 shares of the real estate investment trust’s stock after selling 187 shares during the period. Gold Investment Management Ltd.’s holdings in Mid-America Apartment Communities were worth $1,773,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Mid-America Apartment Communities by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 143,909 shares of the real estate investment trust’s stock valued at $22,867,000 after buying an additional 4,618 shares during the period. Leeward Investments LLC MA purchased a new position in Mid-America Apartment Communities in the 3rd quarter worth approximately $8,417,000. Harvest Portfolios Group Inc. boosted its holdings in Mid-America Apartment Communities by 123.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 11,218 shares of the real estate investment trust’s stock worth $1,783,000 after acquiring an additional 6,198 shares during the period. Greenwood Capital Associates LLC boosted its stake in shares of Mid-America Apartment Communities by 299.4% during the 3rd quarter. Greenwood Capital Associates LLC now owns 51,134 shares of the real estate investment trust’s stock valued at $8,125,000 after buying an additional 38,330 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in Mid-America Apartment Communities during the 3rd quarter valued at $37,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MAA. BNP Paribas started coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price on the stock. Scotiabank increased their target price on Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $144.00 to $189.00 in a research report on Monday, August 12th. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $138.00 to $174.00 in a research report on Monday, August 26th. Finally, UBS Group upped their price target on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities has an average rating of “Hold” and an average price target of $161.69.

Mid-America Apartment Communities Price Performance

MAA stock traded up $1.10 during trading on Friday, hitting $154.69. The company had a trading volume of 435,222 shares, compared to its average volume of 754,361. The firm has a market capitalization of $18.08 billion, a price-to-earnings ratio of 34.92, a P/E/G ratio of 2.45 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. The business has a 50 day moving average of $157.59 and a 200 day moving average of $146.74. Mid-America Apartment Communities, Inc. has a fifty-two week low of $118.72 and a fifty-two week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The company had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. Mid-America Apartment Communities’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.29 EPS. As a group, research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a $1.47 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.80%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 132.73%.

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.