Mid-America Apartment Communities, Inc. (NYSE:MAA) Holdings Lowered by Citigroup Inc.

Citigroup Inc. cut its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 26.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,737 shares of the real estate investment trust’s stock after selling 38,684 shares during the period. Citigroup Inc. owned approximately 0.09% of Mid-America Apartment Communities worth $17,278,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. QRG Capital Management Inc. increased its position in shares of Mid-America Apartment Communities by 12.8% during the 2nd quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock valued at $4,352,000 after purchasing an additional 3,451 shares during the period. Swedbank AB bought a new position in Mid-America Apartment Communities during the first quarter valued at about $26,107,000. Prosperity Consulting Group LLC acquired a new position in Mid-America Apartment Communities during the second quarter worth about $2,572,000. Portside Wealth Group LLC acquired a new stake in Mid-America Apartment Communities in the 2nd quarter valued at about $808,000. Finally, Bank of Montreal Can lifted its holdings in Mid-America Apartment Communities by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 156,374 shares of the real estate investment trust’s stock valued at $22,446,000 after acquiring an additional 8,984 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

MAA opened at $165.20 on Thursday. The stock has a fifty day moving average price of $156.65 and a 200 day moving average price of $149.52. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 1 year low of $121.51 and a 1 year high of $167.39. The stock has a market cap of $19.31 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 2.61 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.20). The firm 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%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.29 earnings per share. Analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is presently 132.73%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price on the stock in a report on Monday, October 21st. Royal Bank of Canada cut their price objective on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Scotiabank reduced their target price on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Finally, JMP Securities lifted their price target on Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Two investment 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’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has an average rating of “Hold” and an average price target of $161.64.

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.