Asset Advisors Investment Management LLC Trims Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Asset Advisors Investment Management LLC decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 14.9% during the fourth quarter, Holdings Channel reports. The fund owned 13,295 shares of the real estate investment trust’s stock after selling 2,330 shares during the period. Asset Advisors Investment Management LLC’s holdings in Mid-America Apartment Communities were worth $2,055,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $25,000. Activest Wealth Management purchased a new stake in Mid-America Apartment Communities during the third quarter valued at approximately $32,000. Catalyst Capital Advisors LLC bought a new position in Mid-America Apartment Communities in the third quarter worth approximately $37,000. Quarry LP purchased a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth $45,000. Finally, UMB Bank n.a. boosted its stake in shares of Mid-America Apartment Communities by 30.5% during the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 75 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Price Performance

MAA stock opened at $160.65 on Monday. Mid-America Apartment Communities, Inc. has a 52 week low of $123.23 and a 52 week high of $167.39. The firm has a market capitalization of $18.78 billion, a P/E ratio of 35.86, a price-to-earnings-growth ratio of 3.72 and a beta of 0.91. The company has a fifty day simple moving average of $153.29 and a two-hundred day simple moving average of $156.25. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. Analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th were given a dividend of $1.515 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.77%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s payout ratio is currently 135.27%.

Wall Street Analyst Weigh In

MAA has been the topic of a number of recent research reports. Morgan Stanley raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $159.50 to $168.00 in a report on Friday, January 24th. Wells Fargo & Company decreased their price objective on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. BMO Capital Markets cut their price objective on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a research note on Tuesday, January 21st. Mizuho reduced their price objective on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $167.00.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.