Mid-America Apartment Communities, Inc. (NYSE:MAA) Stake Trimmed by First Hawaiian Bank

First Hawaiian Bank lowered its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 6.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,362 shares of the real estate investment trust’s stock after selling 242 shares during the period. First Hawaiian Bank’s holdings in Mid-America Apartment Communities were worth $520,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in Mid-America Apartment Communities in the 3rd quarter worth about $25,000. Activest Wealth Management purchased a new position in Mid-America Apartment Communities in the 3rd quarter worth about $32,000. Catalyst Capital Advisors LLC purchased a new position in Mid-America Apartment Communities in the 3rd quarter worth about $37,000. Quarry LP acquired a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $45,000. Finally, EverSource Wealth Advisors LLC boosted its position in Mid-America Apartment Communities by 252.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 391 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 280 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on MAA. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a research report on Tuesday, December 17th. JMP Securities restated a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday. Mizuho reduced their price target on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Royal Bank of Canada reduced their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Finally, Scotiabank reduced their price target on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $166.92.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $148.25 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $156.67 and its two-hundred day moving average is $153.71. The company has a market cap of $17.33 billion, a P/E ratio of 33.47, a P/E/G ratio of 2.53 and a beta of 0.91. Mid-America Apartment Communities, Inc. has a 12 month low of $121.51 and a 12 month high of $167.39.

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

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.515 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.09%. Mid-America Apartment Communities’s payout ratio is currently 136.79%.

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.