Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,489 shares of the real estate investment trust’s stock after selling 112 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Mid-America Apartment Communities were worth $396,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Mid-America Apartment Communities by 17.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after buying an additional 393,067 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 buying an additional 97,672 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in 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. Canada Pension Plan Investment Board lifted its holdings in shares of Mid-America Apartment Communities by 1.5% in the first quarter. Canada Pension Plan Investment Board now owns 1,444,641 shares of the real estate investment trust’s stock valued at $190,086,000 after buying an additional 21,000 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in Mid-America Apartment Communities by 7.0% in the 2nd 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 acquiring an additional 74,936 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Down 0.2 %

Mid-America Apartment Communities stock opened at $158.13 on Wednesday. Mid-America Apartment Communities, Inc. has a 52 week low of $120.32 and a 52 week high of $167.39. 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 firm has a market capitalization of $18.48 billion, a PE ratio of 35.70, a PEG ratio of 2.54 and a beta of 0.88. The business’s 50-day simple moving average is $157.12 and its 200-day simple moving average is $148.64.

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 return on equity of 8.38% and a net margin of 23.84%. The business had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same period in the prior year, the firm earned $2.29 earnings per share. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The business 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 3.72%. Mid-America Apartment Communities’s dividend payout ratio is 132.73%.

Analysts Set New Price Targets

Several research firms have recently commented on MAA. Piper Sandler boosted their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. The Goldman Sachs Group started coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price on the stock. Royal Bank of Canada cut their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. BNP Paribas began coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price target for the company. Finally, Scotiabank cut their price objective on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $161.64.

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.