Exchange Traded Concepts LLC Reduces Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Exchange Traded Concepts LLC lessened its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 80.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,411 shares of the real estate investment trust’s stock after selling 5,883 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Mid-America Apartment Communities were worth $218,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Mid-America Apartment Communities during the 3rd quarter valued at about $2,890,000. Swedbank AB boosted its holdings in shares of Mid-America Apartment Communities by 2.6% in the third quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust’s stock worth $32,350,000 after buying an additional 5,178 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in Mid-America Apartment Communities by 2.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust’s stock valued at $28,711,000 after buying an additional 4,301 shares during the period. Eagle Asset Management Inc. purchased a new stake in Mid-America Apartment Communities during the third quarter valued at approximately $4,304,000. Finally, Capital Investment Advisors LLC raised its position in Mid-America Apartment Communities by 27.1% in the fourth quarter. Capital Investment Advisors LLC now owns 58,484 shares of the real estate investment trust’s stock worth $9,040,000 after acquiring an additional 12,454 shares during the period. Institutional investors own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Evercore ISI began coverage on shares of Mid-America Apartment Communities in a research report on Friday, January 24th. They set an “inline” rating and a $155.00 price objective for the company. Royal Bank of Canada cut 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. Mizuho decreased their price objective on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Barclays cut their price objective on Mid-America Apartment Communities from $166.00 to $152.00 and set an “equal weight” rating for the company in a research note on Friday, January 24th. Finally, Wells Fargo & Company decreased their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $166.00.

Mid-America Apartment Communities Trading Up 0.4 %

Shares of Mid-America Apartment Communities stock opened at $152.50 on Friday. Mid-America Apartment Communities, Inc. has a twelve month low of $121.51 and a twelve month high of $167.39. 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 has a 50-day moving average price of $154.41 and a 200-day moving average price of $154.79. The firm has a market cap of $17.82 billion, a price-to-earnings ratio of 34.42, a PEG ratio of 2.39 and a beta of 0.91.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. During the same quarter in the prior year, the business earned $2.29 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.89 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were issued a $1.515 dividend. The ex-dividend date of this dividend was Wednesday, January 15th. This is a positive change 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 3.97%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 136.79%.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.