Sumitomo Mitsui Trust Holdings Inc. Sells 13,816 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Sumitomo Mitsui Trust Holdings Inc. lessened its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362,319 shares of the real estate investment trust’s stock after selling 13,816 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of Mid-America Apartment Communities worth $51,670,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. First United Bank & Trust bought a new position in Mid-America Apartment Communities in the 4th quarter valued at about $27,000. DecisionPoint Financial LLC purchased a new stake in Mid-America Apartment Communities in the 1st quarter valued at about $26,000. Versant Capital Management Inc increased its stake in Mid-America Apartment Communities by 3,071.4% in the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 215 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Mid-America Apartment Communities during the 1st quarter worth approximately $32,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Mid-America Apartment Communities by 53.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 378 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 132 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their price target for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. Scotiabank raised their price target on shares of Mid-America Apartment Communities from $144.00 to $151.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised their price target on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. UBS Group raised their price target on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada raised their price target on shares of Mid-America Apartment Communities from $145.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $150.09.

Mid-America Apartment Communities Stock Performance

NYSE MAA opened at $152.84 on Monday. The company has a market capitalization of $17.86 billion, a P/E ratio of 32.04, a P/E/G ratio of 3.27 and a beta of 0.85. The company has a fifty day moving average of $143.38 and a 200-day moving average of $134.98. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $154.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date of this dividend was Monday, July 15th. Mid-America Apartment Communities’s payout ratio is presently 123.27%.

Mid-America Apartment Communities Profile

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.