Freedom Investment Management Inc. Has $501,000 Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Freedom Investment Management Inc. lowered its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,151 shares of the real estate investment trust’s stock after selling 95 shares during the quarter. Freedom Investment Management Inc.’s holdings in Mid-America Apartment Communities were worth $501,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Duquesne Family Office LLC bought a new stake in shares of Mid-America Apartment Communities during the second quarter valued at approximately $91,868,000. Long Pond Capital LP boosted its position in Mid-America Apartment Communities by 550.9% in the 2nd quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock valued at $92,270,000 after buying an additional 547,607 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of 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 buying an additional 393,067 shares during the period. Ceredex Value Advisors LLC raised its position in shares of Mid-America Apartment Communities by 107.1% during the second quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock worth $94,424,000 after acquiring an additional 342,335 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Mid-America Apartment Communities by 176.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 339,081 shares of the real estate investment trust’s stock valued at $48,356,000 after acquiring an additional 216,610 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on MAA shares. The Goldman Sachs Group initiated coverage on Mid-America Apartment Communities in a report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective for the company. 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. 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 on the stock in a research note on Friday, November 1st. StockNews.com cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, BNP Paribas initiated coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $162.68.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $164.09 on Friday. The firm has a market cap of $19.18 billion, a PE ratio of 37.04, a P/E/G ratio of 2.66 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 12 month low of $121.51 and a 12 month high of $167.39. The company’s fifty day simple moving average is $156.69 and its 200-day simple moving average is $149.73. 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 posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. During the same quarter in the prior year, the company earned $2.29 earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 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.