New Age Alpha Advisors LLC Sells 9,492 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Key Points

• New Age Alpha Advisors LLC significantly reduced its stake in Mid-America Apartment Communities, selling 9,492 shares and leaving it with only 2,967 shares valued at approximately $497,000.
• Numerous other investors, including Deutsche Bank AG and GAMMA Investing LLC, increased their holdings in Mid-America Apartment Communities by substantial percentages during the recent quarters.
• Mid-America Apartment Communities reported a quarterly earnings per share (EPS) of $2.15, exceeding analysts' expectations, and announced a quarterly dividend yielding 4.3% per share.

New Age Alpha Advisors LLC cut its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 76.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,967 shares of the real estate investment trust's stock after selling 9,492 shares during the quarter. New Age Alpha Advisors LLC's holdings in Mid-America Apartment Communities were worth $497,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FIL Ltd boosted its stake in Mid-America Apartment Communities by 26.6% during the fourth quarter. FIL Ltd now owns 37,699 shares of the real estate investment trust's stock worth $5,827,000 after acquiring an additional 7,920 shares in the last quarter. Bank of Nova Scotia boosted its stake in Mid-America Apartment Communities by 3.0% during the fourth quarter. Bank of Nova Scotia now owns 16,136 shares of the real estate investment trust's stock worth $2,493,000 after acquiring an additional 467 shares in the last quarter. Bessemer Group Inc. boosted its stake in Mid-America Apartment Communities by 3.0% during the fourth quarter. Bessemer Group Inc. now owns 24,968 shares of the real estate investment trust's stock worth $3,859,000 after acquiring an additional 716 shares in the last quarter. Capital Fund Management S.A. boosted its stake in Mid-America Apartment Communities by 207.8% during the fourth quarter. Capital Fund Management S.A. now owns 27,498 shares of the real estate investment trust's stock worth $4,250,000 after acquiring an additional 52,998 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in Mid-America Apartment Communities by 0.5% during the fourth quarter. Treasurer of the State of North Carolina now owns 52,437 shares of the real estate investment trust's stock worth $8,105,000 after acquiring an additional 240 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Performance

Shares of MAA traded up $0.98 on Wednesday, reaching $139.36. The company's stock had a trading volume of 411,621 shares, compared to its average volume of 899,337. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.10 and a quick ratio of 0.10. The stock has a market capitalization of $16.31 billion, a P/E ratio of 28.62, a PEG ratio of 3.71 and a beta of 0.75. The stock's 50 day simple moving average is $148.31 and its two-hundred day simple moving average is $155.71. Mid-America Apartment Communities, Inc. has a 12-month low of $137.32 and a 12-month high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.14 by $0.01. The company had revenue of $549.90 million for 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 9.35%. The firm's revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.22 earnings per share. Research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were issued a $1.515 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.3%. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 124.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. The Goldman Sachs Group lowered shares of Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price objective on the stock. in a research note on Friday, July 11th. KeyCorp dropped their price objective on shares of Mid-America Apartment Communities from $180.00 to $170.00 and set an "overweight" rating on the stock in a research note on Wednesday. Barclays reduced their price objective on shares of Mid-America Apartment Communities from $172.00 to $156.00 and set an "equal weight" rating for the company in a research note on Tuesday. UBS Group reduced their price objective on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating for the company in a research note on Tuesday, July 15th. Finally, JMP Securities raised their price objective on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Mid-America Apartment Communities currently has a consensus rating of "Hold" and a consensus price target of $164.32.

Mid-America Apartment Communities 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.