Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by ING Groep NV

ING Groep NV trimmed its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,631 shares of the real estate investment trust’s stock after selling 89 shares during the period. ING Groep NV’s holdings in Mid-America Apartment Communities were worth $2,484,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in MAA. QRG Capital Management Inc. lifted its position in Mid-America Apartment Communities by 12.8% during the second quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock valued at $4,352,000 after purchasing an additional 3,451 shares during the period. Swedbank AB purchased a new position in shares of Mid-America Apartment Communities during the 1st quarter valued at about $26,107,000. Prosperity Consulting Group LLC acquired a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $2,572,000. Portside Wealth Group LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter worth about $808,000. Finally, Empowered Funds LLC purchased a new position in Mid-America Apartment Communities during the first quarter valued at approximately $232,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Up 0.5 %

MAA stock opened at $158.09 on Friday. The company has a market cap of $18.48 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.60 and a beta of 0.88. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 12 month low of $120.32 and a 12 month high of $167.39. The firm has a 50-day moving average of $157.27 and a two-hundred day moving average of $148.15.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The company had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the company earned $2.29 earnings per share. As a group, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.72%. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Analysts Set New Price Targets

MAA has been the topic of several recent research reports. The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective on the stock. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a research report on Monday, October 21st. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $138.00 to $174.00 in a report on Monday, August 26th. Scotiabank lowered their target price on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Truist Financial lifted their price target on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus price target of $161.64.

About Mid-America Apartment Communities

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.