Covestor Ltd Trims Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Covestor Ltd decreased its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 13.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 595 shares of the real estate investment trust’s stock after selling 89 shares during the quarter. Covestor Ltd’s holdings in Mid-America Apartment Communities were worth $95,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in MAA. EdgeRock Capital LLC purchased a new position in shares of Mid-America Apartment Communities during the 2nd quarter worth $26,000. Versant Capital Management Inc lifted its position in Mid-America Apartment Communities by 3,071.4% during the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 215 shares in the last quarter. Catalyst Capital Advisors LLC bought a new stake in Mid-America Apartment Communities during the third quarter valued at about $37,000. UMB Bank n.a. increased its position in Mid-America Apartment Communities by 82.4% in the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 108 shares in the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in shares of Mid-America Apartment Communities by 305.1% in the second quarter. Capital Advisors Ltd. LLC now owns 316 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 238 shares during the period. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Trading Down 0.2 %

MAA opened at $159.76 on Wednesday. Mid-America Apartment Communities, Inc. has a 12 month low of $118.72 and a 12 month high of $167.39. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average of $157.40 and a 200 day moving average of $147.67. The firm has a market cap of $18.67 billion, a P/E ratio of 36.06, a P/E/G ratio of 2.56 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate 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 business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.29 EPS. As a group, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.68%. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MAA shares. StockNews.com lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Royal Bank of Canada reduced their price objective on shares of 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. Wedbush upped their target price on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price target on the stock. Finally, BNP Paribas initiated 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 for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities has an average rating of “Hold” and an average target price of $161.69.

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.