Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden has reduced its stake in Mid-America Apartment Communities by 33.2%, now holding 19,700 shares valued at approximately $3.3 million after selling 9,800 shares in the first quarter.
• Wall Street analysts have shown mixed sentiments, with a consensus rating of "Hold" and a consensus price target of $166.95, while several firms have adjusted their price targets downward.
• The company announced a quarterly dividend of $1.515 per share, representing a yield of 4.4%; however, its dividend payout ratio stands at 124.69%.

Forsta AP Fonden decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 33.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,700 shares of the real estate investment trust's stock after selling 9,800 shares during the quarter. Forsta AP Fonden's holdings in Mid-America Apartment Communities were worth $3,301,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC raised its position in shares of Mid-America Apartment Communities by 107.1% during the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 91 shares during the period. CoreCap Advisors LLC raised its position in shares of Mid-America Apartment Communities by 94.9% during the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 112 shares during the period. GoalVest Advisory LLC raised its position in Mid-America Apartment Communities by 200.0% during the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 160 shares during the period. NBC Securities Inc. acquired a new position in Mid-America Apartment Communities during the first quarter valued at $46,000. Finally, Wayfinding Financial LLC acquired a new position in Mid-America Apartment Communities during the first quarter valued at $60,000. Institutional investors and hedge funds own 93.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MAA shares. Raymond James Financial lowered Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. Scotiabank cut their price target on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating for the company in a research note on Friday, June 13th. Mizuho lowered their price objective on 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. Barclays increased their price objective on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Finally, Evercore ISI decreased their target price on Mid-America Apartment Communities from $163.00 to $155.00 and set an "in-line" rating for the company in a research note on Monday, August 4th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities has a consensus rating of "Hold" and a consensus price target of $166.95.

Mid-America Apartment Communities Trading Down 1.4%

Mid-America Apartment Communities stock opened at $138.52 on Tuesday. The business has a 50 day moving average price of $148.59 and a two-hundred day moving average price of $155.83. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.83. The stock has a market cap of $16.22 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 12 month low of $138.34 and a 12 month high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, beating the consensus estimate of $2.14 by $0.01. The business had revenue of $549.90 million for the quarter, compared to analyst estimates of $552.19 million. Mid-America Apartment Communities had a return on equity of 9.35% and a net margin of 25.98%. Mid-America Apartment Communities's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.22 EPS. As a group, equities analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were issued a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 124.69%.

Mid-America Apartment Communities Company Profile

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.

Want to see what other hedge funds are holding MAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.