Invesco Ltd. Sells 130,126 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Key Points

• Invesco Ltd. reduced its stake in Mid-America Apartment Communities (NYSE:MAA) by 8.5%, selling 130,126 shares and now owning 1,405,010 shares worth approximately $235.45 million.
• A recent analysis revealed that Mid-America Apartment Communities has received multiple price target reductions from analysts, with the average price target now at $164.79.
• The company declared a quarterly dividend of $1.515 per share, resulting in an annualized dividend yield of 4.4%, despite a dividend payout ratio of 124.69%.

Invesco Ltd. decreased its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,405,010 shares of the real estate investment trust's stock after selling 130,126 shares during the period. Invesco Ltd. owned about 1.20% of Mid-America Apartment Communities worth $235,452,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MAA. Alhambra Investment Management LLC grew its holdings in Mid-America Apartment Communities by 3.1% during the first quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust's stock valued at $363,000 after purchasing an additional 66 shares during the period. Stephens Inc. AR lifted its position in shares of Mid-America Apartment Communities by 2.6% in the first quarter. Stephens Inc. AR now owns 2,762 shares of the real estate investment trust's stock valued at $463,000 after acquiring an additional 70 shares in the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Mid-America Apartment Communities by 3.5% in the first quarter. Avantax Advisory Services Inc. now owns 2,353 shares of the real estate investment trust's stock valued at $394,000 after acquiring an additional 80 shares in the last quarter. Signaturefd LLC lifted its position in shares of Mid-America Apartment Communities by 2.9% in the first quarter. Signaturefd LLC now owns 2,851 shares of the real estate investment trust's stock valued at $478,000 after acquiring an additional 81 shares in the last quarter. Finally, AlphaStar Capital Management LLC lifted its position in shares of Mid-America Apartment Communities by 2.8% in the first quarter. AlphaStar Capital Management LLC now owns 3,158 shares of the real estate investment trust's stock valued at $529,000 after acquiring an additional 87 shares in the last quarter. Institutional investors own 93.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Mizuho upgraded Mid-America Apartment Communities from a "neutral" rating to an "outperform" rating and decreased their target price for the stock from $161.00 to $150.00 in a research report on Thursday. Truist Financial decreased their target price on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research report on Wednesday, May 21st. Evercore ISI decreased their price objective on Mid-America Apartment Communities from $155.00 to $152.00 and set an "in-line" rating on the stock in a research report on Tuesday. Wall Street Zen upgraded Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research report on Sunday, August 10th. Finally, Scotiabank decreased their price objective on Mid-America Apartment Communities from $180.00 to $170.00 and set a "sector outperform" rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of "Hold" and an average price target of $163.21.

Mid-America Apartment Communities Stock Up 0.6%

Shares of Mid-America Apartment Communities stock traded up $0.85 during trading on Friday, reaching $140.88. The company had a trading volume of 927,467 shares, compared to its average volume of 907,478. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 3.74 and a beta of 0.75. The firm's fifty day moving average is $147.87 and its 200-day moving average is $155.51. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.10 and a current ratio of 0.10. Mid-America Apartment Communities, Inc. has a fifty-two week low of $137.32 and a fifty-two week high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, topping the consensus estimate of $2.14 by $0.01. The firm had revenue of $549.90 million during the quarter, compared to analysts' expectations of $552.19 million. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. Mid-America Apartment Communities's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.22 EPS. On average, analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were given a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Tuesday, July 15th. Mid-America Apartment Communities's payout ratio is 124.69%.

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.