Summit Asset Management LLC Has $1.03 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Summit Asset Management LLC lessened its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 9.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,689 shares of the real estate investment trust’s stock after selling 692 shares during the period. Summit Asset Management LLC’s holdings in Mid-America Apartment Communities were worth $1,034,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its holdings in shares of Mid-America Apartment Communities by 0.9% in the third quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust’s stock valued at $1,228,569,000 after purchasing an additional 65,696 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Mid-America Apartment Communities by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,141,138 shares of the real estate investment trust’s stock valued at $497,624,000 after acquiring an additional 48,168 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Mid-America Apartment Communities by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,355,585 shares of the real estate investment trust’s stock valued at $215,402,000 after acquiring an additional 39,123 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Mid-America Apartment Communities by 516.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,074,223 shares of the real estate investment trust’s stock valued at $170,694,000 after acquiring an additional 899,960 shares during the period. Finally, Swiss National Bank boosted its position in shares of Mid-America Apartment Communities by 0.3% in the third quarter. Swiss National Bank now owns 346,676 shares of the real estate investment trust’s stock valued at $55,087,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $160.65 on Friday. The firm has a market cap of $18.78 billion, a PE ratio of 35.86, a P/E/G ratio of 3.72 and a beta of 0.91. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm has a fifty day simple moving average of $153.29 and a two-hundred day simple moving average of $156.22. Mid-America Apartment Communities, Inc. has a 1-year low of $123.23 and a 1-year high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. On average, equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were given a dividend of $1.515 per share. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Wednesday, January 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.77%. Mid-America Apartment Communities’s payout ratio is presently 135.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Scotiabank upgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $173.00 to $182.00 in a research report on Friday, February 14th. Royal Bank of Canada raised their price objective on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. BMO Capital Markets cut their target price on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 21st. Barclays lifted their price objective on Mid-America Apartment Communities from $152.00 to $163.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.00.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.