Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Gold Investment Management Ltd.

Gold Investment Management Ltd. decreased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,176 shares of the real estate investment trust’s stock after selling 187 shares during the quarter. Gold Investment Management Ltd.’s holdings in Mid-America Apartment Communities were worth $1,773,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in Mid-America Apartment Communities by 17.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after purchasing an additional 393,067 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mid-America Apartment Communities by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock worth $244,803,000 after acquiring an additional 97,672 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of Mid-America Apartment Communities by 2.8% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock worth $234,497,000 after acquiring an additional 44,621 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Mid-America Apartment Communities by 1.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,444,641 shares of the real estate investment trust’s stock worth $190,086,000 after acquiring an additional 21,000 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Mid-America Apartment Communities by 7.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 1,140,287 shares of the real estate investment trust’s stock worth $162,616,000 after acquiring an additional 74,936 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MAA. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $138.00 to $174.00 in a report on Monday, August 26th. 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 report on Monday, October 21st. 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 on the stock in a report on Friday, November 1st. The Goldman Sachs Group assumed 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 on the stock. Finally, Truist Financial upped their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and an average target price of $161.69.

Mid-America Apartment Communities Stock Up 0.7 %

Shares of Mid-America Apartment Communities stock traded up $1.10 during trading hours on Friday, hitting $154.69. The company had a trading volume of 435,222 shares, compared to its average volume of 754,361. The company’s 50-day moving average is $157.59 and its two-hundred day moving average is $146.74. Mid-America Apartment Communities, Inc. has a twelve month low of $118.72 and a twelve month high of $167.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $18.08 billion, a P/E ratio of 34.92, a price-to-earnings-growth ratio of 2.45 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results 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 business had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.29 EPS. Analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) 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.