Duff & Phelps Investment Management Co. lessened its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 490,580 shares of the real estate investment trust's stock after selling 172,970 shares during the quarter. Duff & Phelps Investment Management Co. owned 0.42% of Mid-America Apartment Communities worth $65,963,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the business. Raleigh Capital Management Inc. boosted its position in Mid-America Apartment Communities by 22.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 463 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 84 shares during the period. First Financial Corp IN lifted its position in Mid-America Apartment Communities by 40.8% during the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 86 shares in the last quarter. Blue Trust Inc. boosted its holdings in Mid-America Apartment Communities by 22.8% in the 4th quarter. Blue Trust Inc. now owns 511 shares of the real estate investment trust's stock worth $65,000 after acquiring an additional 95 shares during the period. Oakworth Capital Inc. grew its position in Mid-America Apartment Communities by 0.6% in the fourth quarter. Oakworth Capital Inc. now owns 15,212 shares of the real estate investment trust's stock valued at $2,045,000 after acquiring an additional 98 shares in the last quarter. Finally, Diversified Trust Co raised its stake in shares of Mid-America Apartment Communities by 3.4% during the fourth quarter. Diversified Trust Co now owns 3,079 shares of the real estate investment trust's stock valued at $414,000 after purchasing an additional 102 shares during the period. Hedge funds and other institutional investors own 93.60% of the company's stock.
Wall Street Analyst Weigh In
MAA has been the topic of several analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $149.00 price target on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Mizuho dropped their target price on Mid-America Apartment Communities from $132.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a "hold" rating and a $139.00 price target for the company. Wedbush restated a "neutral" rating and set a $135.00 price objective on shares of Mid-America Apartment Communities in a report on Monday. Finally, Morgan Stanley increased their target price on Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an "equal weight" rating in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of "Hold" and a consensus price target of $143.06.
Check Out Our Latest Research Report on Mid-America Apartment Communities
Mid-America Apartment Communities Stock Performance
MAA stock traded down $1.13 during midday trading on Tuesday, reaching $130.00. The company had a trading volume of 1,015,161 shares, compared to its average volume of 879,984. The firm has a market capitalization of $15.17 billion, a PE ratio of 27.84, a P/E/G ratio of 2.90 and a beta of 0.80. The stock has a 50 day moving average price of $129.10 and a 200 day moving average price of $128.52. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $158.46. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.93). The company had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The company's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.32 EPS. Analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current year.
Mid-America Apartment Communities Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities's dividend payout ratio (DPR) is 124.84%.
Insiders Place Their Bets
In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 2,807 shares of company stock worth $353,955. Insiders own 1.30% of the company's stock.
Mid-America Apartment Communities Company Profile
(
Free Report)
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.
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