Mediolanum International Funds Ltd Lowers Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Key Points

• Mediolanum International Funds Ltd has reduced its stake in Mid-America Apartment Communities, Inc. by 16.5%, now holding 13,096 shares valued at $2,173,000.
• Several analysts have downgraded MAA's stock ratings, with Goldman Sachs moving it from "buy" to "neutral" and setting a price target of $165.00.
• Mid-America Apartment Communities declared a quarterly dividend of $1.515 per share, representing an annualized yield of 3.98%, despite a notably high payout ratio of 126.25%.

Mediolanum International Funds Ltd lessened its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 16.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,096 shares of the real estate investment trust's stock after selling 2,585 shares during the period. Mediolanum International Funds Ltd's holdings in Mid-America Apartment Communities were worth $2,173,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of MAA. Principal Financial Group Inc. raised its holdings in shares of Mid-America Apartment Communities by 1.5% during the first quarter. Principal Financial Group Inc. now owns 192,228 shares of the real estate investment trust's stock valued at $32,214,000 after purchasing an additional 2,800 shares during the period. Aurora Investment Counsel acquired a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth about $1,929,000. Summit Trail Advisors LLC raised its holdings in shares of Mid-America Apartment Communities by 106.9% in the 1st quarter. Summit Trail Advisors LLC now owns 4,401 shares of the real estate investment trust's stock worth $738,000 after acquiring an additional 2,274 shares during the last quarter. Starwood Capital Group Management L.L.C. raised its holdings in shares of Mid-America Apartment Communities by 17.7% in the 4th quarter. Starwood Capital Group Management L.L.C. now owns 219,407 shares of the real estate investment trust's stock worth $33,914,000 after acquiring an additional 33,000 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Mid-America Apartment Communities by 92.0% in the 1st quarter. Stratos Wealth Partners LTD. now owns 28,134 shares of the real estate investment trust's stock worth $4,715,000 after acquiring an additional 13,482 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

MAA traded down $1.58 on Friday, hitting $140.85. The company's stock had a trading volume of 496,203 shares, compared to its average volume of 900,774. The company's 50 day simple moving average is $150.56 and its 200-day simple moving average is $156.18. The firm has a market cap of $16.49 billion, a P/E ratio of 29.01, a price-to-earnings-growth ratio of 3.81 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 12 month low of $138.67 and a 12 month high of $173.38. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $549.90 million during the quarter, compared to the consensus estimate of $552.19 million. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.33%. Mid-America Apartment Communities's revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $2.22 EPS. Analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Tuesday, July 15th. This represents a $6.06 annualized dividend and a dividend yield of 4.3%. Mid-America Apartment Communities's dividend payout ratio (DPR) is 126.25%.

Analyst Upgrades and Downgrades

MAA has been the topic of a number of analyst reports. Mizuho lowered their target price on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Royal Bank Of Canada lowered their target price on shares of Mid-America Apartment Communities from $158.00 to $155.00 and set a "sector perform" rating on the stock in a report on Friday. JMP Securities upped their target price on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a report on Thursday, May 22nd. Truist Financial lowered their target price on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. Finally, Scotiabank reduced their price objective on shares of Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating for the company in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $168.52.

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.