Mid-America Apartment Communities, Inc. (NYSE:MAA) Stock Position Decreased by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 62,664 shares of the real estate investment trust’s stock after selling 1,115 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Mid-America Apartment Communities were worth $9,957,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its position in Mid-America Apartment Communities by 5.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock worth $227,000 after purchasing an additional 90 shares during the last quarter. Cetera Investment Advisers grew its position in Mid-America Apartment Communities by 33.0% in the 1st quarter. Cetera Investment Advisers now owns 51,421 shares of the real estate investment trust’s stock worth $6,766,000 after purchasing an additional 12,773 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Mid-America Apartment Communities in the 2nd quarter worth about $4,327,000. Gilman Hill Asset Management LLC grew its position in Mid-America Apartment Communities by 5.8% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 3,669 shares of the real estate investment trust’s stock worth $523,000 after purchasing an additional 200 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in Mid-America Apartment Communities by 12.8% in the 2nd quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock worth $4,352,000 after purchasing an additional 3,451 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

MAA has been the subject of several recent analyst reports. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Royal Bank of Canada decreased 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 report on Friday, November 1st. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective for the company. Scotiabank decreased their price objective on shares of 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, Deutsche Bank Aktiengesellschaft increased 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 report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $162.68.

Mid-America Apartment Communities Trading Down 0.6 %

Shares of NYSE:MAA opened at $160.04 on Thursday. The firm has a fifty day moving average of $156.63 and a two-hundred day moving average of $150.52. The firm has a market capitalization of $18.71 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 2.61 and a beta of 0.90. Mid-America Apartment Communities, Inc. has a 12-month low of $121.51 and a 12-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) last issued 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 company 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 company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the business earned $2.29 EPS. On average, equities analysts expect 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 declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued 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 3.67%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

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.