Red Door Wealth Management LLC Cuts Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Red Door Wealth Management LLC reduced its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.7% during the 4th quarter, Holdings Channel reports. The fund owned 36,346 shares of the real estate investment trust’s stock after selling 618 shares during the quarter. Red Door Wealth Management LLC’s holdings in Mid-America Apartment Communities were worth $5,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp raised its position in Mid-America Apartment Communities by 0.9% in the 3rd quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust’s stock valued at $1,228,569,000 after purchasing an additional 65,696 shares in the last quarter. Geode Capital Management LLC raised its holdings in Mid-America Apartment Communities by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,141,138 shares of the real estate investment trust’s stock valued at $497,624,000 after acquiring an additional 48,168 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Mid-America Apartment Communities by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,355,585 shares of the real estate investment trust’s stock worth $215,402,000 after acquiring an additional 39,123 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Mid-America Apartment Communities by 516.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,074,223 shares of the real estate investment trust’s stock worth $170,694,000 after acquiring an additional 899,960 shares in the last quarter. Finally, Long Pond Capital LP grew its holdings in Mid-America Apartment Communities by 550.9% during the 2nd quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock worth $92,270,000 after acquiring an additional 547,607 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on MAA. 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 research report on Friday, November 1st. Barclays began coverage on Mid-America Apartment Communities in a report on Tuesday, December 17th. They set an “equal weight” rating and a $166.00 price target for the company. Raymond James upgraded 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. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a research note on Tuesday, December 17th. Finally, StockNews.com lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $166.29.

Mid-America Apartment Communities Stock Down 0.1 %

MAA opened at $146.97 on Friday. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39. The business has a 50 day moving average price of $155.33 and a two-hundred day moving average price of $154.33. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The company has a market cap of $17.18 billion, a PE ratio of 33.18, a P/E/G ratio of 2.41 and a beta of 0.91.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate 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 company had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. During the same quarter last year, the company earned $2.29 EPS. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.89 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a $1.515 dividend. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. The ex-dividend date is Wednesday, January 15th. This represents a $6.06 annualized dividend and a dividend yield of 4.12%. Mid-America Apartment Communities’s payout ratio is presently 136.79%.

Mid-America Apartment Communities 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.