Mid-America Apartment Communities, Inc. (NYSE:MAA) Holdings Decreased by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 33.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,104 shares of the real estate investment trust’s stock after selling 14,042 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Mid-America Apartment Communities were worth $4,466,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Versor Investments LP boosted its stake in shares of Mid-America Apartment Communities by 237.9% during the 3rd quarter. Versor Investments LP now owns 8,208 shares of the real estate investment trust’s stock worth $1,304,000 after acquiring an additional 5,779 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at $25,000. Los Angeles Capital Management LLC increased its stake in Mid-America Apartment Communities by 56.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 99,686 shares of the real estate investment trust’s stock worth $15,840,000 after purchasing an additional 36,048 shares in the last quarter. Assetmark Inc. raised its holdings in Mid-America Apartment Communities by 22,730.8% during the 3rd quarter. Assetmark Inc. now owns 5,936 shares of the real estate investment trust’s stock worth $943,000 after buying an additional 5,910 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Mid-America Apartment Communities by 3.3% during the 3rd quarter. Principal Financial Group Inc. now owns 143,909 shares of the real estate investment trust’s stock worth $22,867,000 after buying an additional 4,618 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

MAA has been the subject of several recent analyst reports. The Goldman Sachs Group started coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Scotiabank lifted their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Raymond James raised shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a research note on Monday, October 21st. Finally, Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $144.00 to $189.00 in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities presently has an average rating of “Hold” and an average price target of $161.69.

Mid-America Apartment Communities Trading Down 0.2 %

Shares of MAA stock opened at $159.76 on Wednesday. The business’s 50 day moving average is $157.40 and its two-hundred day moving average is $147.67. 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, Inc. has a 12 month low of $118.72 and a 12 month high of $167.39. The company has a market cap of $18.67 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 2.58 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The firm had revenue of $551.13 million during 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 business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 earnings per share. Equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current 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 given a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.68%. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

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.