Wellington Management Group LLP Sells 701 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wellington Management Group LLP lessened its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 45,579 shares of the real estate investment trust’s stock after selling 701 shares during the period. Wellington Management Group LLP’s holdings in Mid-America Apartment Communities were worth $7,243,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MAA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Mid-America Apartment Communities by 516.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,074,223 shares of the real estate investment trust’s stock valued at $170,694,000 after acquiring an additional 899,960 shares in the last quarter. Duquesne Family Office LLC acquired a new stake in Mid-America Apartment Communities in the 2nd quarter valued at $91,868,000. Long Pond Capital LP raised its holdings in Mid-America Apartment Communities by 550.9% during the second quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock worth $92,270,000 after buying an additional 547,607 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Mid-America Apartment Communities by 17.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after buying an additional 393,067 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in shares of Mid-America Apartment Communities by 107.1% in the second quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock valued at $94,424,000 after buying an additional 342,335 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $158.57 on Tuesday. The firm has a market capitalization of $18.53 billion, a PE ratio of 35.79, a P/E/G ratio of 2.55 and a beta of 0.90. 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 company has a 50-day moving average price of $156.93 and a two-hundred day moving average price of $152.08. Mid-America Apartment Communities, Inc. has a twelve month low of $121.51 and a twelve month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data 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). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. During the same quarter in the previous year, the firm posted $2.29 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts forecast 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. Investors of record on Wednesday, January 15th will be paid a dividend of $1.515 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.06 annualized dividend and a yield of 3.82%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s payout ratio is currently 136.79%.

Analyst Ratings Changes

Several research firms have recently commented on MAA. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price target on the stock. Truist Financial lifted their target price on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Piper Sandler increased their price target 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 shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $138.00 to $174.00 in a report on Monday, August 26th. Finally, StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $162.68.

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.