Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance reduced its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,978 shares of the real estate investment trust’s stock after selling 100 shares during the quarter. Independent Advisor Alliance’s holdings in Mid-America Apartment Communities were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Mid-America Apartment Communities during the third quarter valued at about $25,000. EdgeRock Capital LLC acquired a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $26,000. Activest Wealth Management purchased a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth about $32,000. Versant Capital Management Inc increased its position in Mid-America Apartment Communities by 3,071.4% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 215 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in Mid-America Apartment Communities in the third quarter valued at approximately $37,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MAA shares. Raymond James raised shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective for the company in a research report on Monday, October 21st. Piper Sandler raised their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised their target price on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Royal Bank of Canada decreased 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $162.68.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $165.20 on Friday. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. The firm has a market cap of $19.31 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 2.61 and a beta of 0.88. The stock has a 50 day moving average of $156.68 and a 200-day moving average of $149.63.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The business had revenue of $551.13 million during the quarter, compared to analyst estimates 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 revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 EPS. As a group, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.56%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 132.73%.

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.