Mid-America Apartment Communities, Inc. (NYSE:MAA) Position Cut by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 359,926 shares of the real estate investment trust’s stock after selling 2,393 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.31% of Mid-America Apartment Communities worth $57,192,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MAA. Ashton Thomas Securities LLC bought a new stake in shares of Mid-America Apartment Communities during the third quarter valued at about $25,000. EdgeRock Capital LLC acquired a new position in Mid-America Apartment Communities during the 2nd quarter valued at about $26,000. Versant Capital Management Inc raised its position in shares of 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 buying an additional 215 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of 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 worth $34,000 after acquiring an additional 108 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Mid-America Apartment Communities in the third quarter valued at approximately $37,000. Institutional investors own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

MAA has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on Mid-America Apartment Communities in a report on Wednesday, September 4th. They set a “buy” rating and a $187.00 target price on the stock. BNP Paribas started coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective on the stock. UBS Group raised their target price on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research note on Thursday, July 18th. Royal Bank of Canada dropped their price target 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 report on Friday, November 1st. Finally, Truist Financial upped their price target 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $161.64.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $157.37 on Friday. The company has a market capitalization of $18.39 billion, a PE ratio of 35.52, a PEG ratio of 2.57 and a beta of 0.88. 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 company’s 50 day moving average price is $157.29 and its 200 day moving average price is $147.84. Mid-America Apartment Communities, Inc. has a 52 week low of $120.32 and a 52 week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last posted 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 company had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. During the same quarter in the prior year, the firm earned $2.29 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. Research analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 3.74%. Mid-America Apartment Communities’s dividend payout ratio 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.