Nordea Investment Management AB lessened its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 1.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,288 shares of the real estate investment trust’s stock after selling 156 shares during the quarter. Nordea Investment Management AB’s holdings in Mid-America Apartment Communities were worth $1,282,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. raised its position in Mid-America Apartment Communities by 1.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust’s stock worth $962,000 after purchasing an additional 82 shares during the period. First Commonwealth Financial Corp PA increased its position in shares of Mid-America Apartment Communities by 2.1% in the third quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust’s stock valued at $664,000 after acquiring an additional 86 shares during the period. V Square Quantitative Management LLC increased its position in shares of Mid-America Apartment Communities by 6.4% in the third quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 87 shares during the period. Financial Advocates Investment Management increased its position in shares of Mid-America Apartment Communities by 4.2% in the third quarter. Financial Advocates Investment Management now owns 2,308 shares of the real estate investment trust’s stock valued at $367,000 after acquiring an additional 93 shares during the period. Finally, D.A. Davidson & CO. increased its position in shares of Mid-America Apartment Communities by 4.2% in the third quarter. D.A. Davidson & CO. now owns 2,297 shares of the real estate investment trust’s stock valued at $365,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on MAA. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a research report on Monday, October 21st. KeyCorp upgraded shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price target on the stock in a research report on Tuesday, December 17th. Scotiabank reduced their price target 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. Mizuho reduced their price target on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, JMP Securities reiterated a “market outperform” rating and set a $160.00 price target on shares of Mid-America Apartment Communities in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $166.92.
Mid-America Apartment Communities Stock Down 0.7 %
Shares of Mid-America Apartment Communities stock opened at $148.25 on Monday. The company has a market cap of $17.33 billion, a price-to-earnings ratio of 33.47, a price-to-earnings-growth ratio of 2.53 and a beta of 0.91. The company’s 50 day moving average is $156.65 and its 200 day moving average is $153.94. Mid-America Apartment Communities, Inc. has a twelve month low of $121.51 and a twelve month high of $167.39. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80.
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share 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 the consensus estimate 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 revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $2.29 EPS. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.
Mid-America Apartment Communities Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a dividend of $1.515 per share. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Wednesday, January 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 136.79%.
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.
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