Hartford Investment Management Co. Sells 133 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Hartford Investment Management Co. cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,320 shares of the real estate investment trust’s stock after selling 133 shares during the period. Hartford Investment Management Co.’s holdings in Mid-America Apartment Communities were worth $1,163,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Greenleaf Trust grew its position in Mid-America Apartment Communities by 7.4% in the third quarter. Greenleaf Trust now owns 2,352 shares of the real estate investment trust’s stock worth $374,000 after acquiring an additional 162 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Mid-America Apartment Communities by 8.6% during the 3rd quarter. Private Advisor Group LLC now owns 2,684 shares of the real estate investment trust’s stock valued at $427,000 after purchasing an additional 213 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in Mid-America Apartment Communities during the 3rd quarter valued at $215,000. Whittier Trust Co. of Nevada Inc. bought a new stake in Mid-America Apartment Communities in the third quarter worth $89,000. Finally, Everence Capital Management Inc. purchased a new position in Mid-America Apartment Communities during the third quarter worth $462,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $153.32 on Friday. The firm has a market cap of $17.92 billion, a price-to-earnings ratio of 34.92, a PEG ratio of 2.48 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $167.39. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $158.34 and its 200 day moving average is $145.22.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.84%. Mid-America Apartment Communities’s dividend payout ratio is presently 133.94%.

Analysts Set New Price Targets

Several research firms have recently issued reports on MAA. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $138.00 to $174.00 in a report on Monday, August 26th. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. Wedbush upped their target price on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. UBS Group raised their price target on 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, BNP Paribas initiated coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.75.

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.