Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 96.9% during the second quarter, HoldingsChannel.com reports. The fund owned 2,549 shares of the real estate investment trust’s stock after selling 78,600 shares during the period. Renaissance Technologies LLC’s holdings in Mid-America Apartment Communities were worth $364,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MAA. Quarry LP boosted its position in Mid-America Apartment Communities by 129.3% during the fourth quarter. Quarry LP now owns 422 shares of the real estate investment trust’s stock worth $57,000 after acquiring an additional 238 shares during the last quarter. Virtu Financial LLC boosted its position in Mid-America Apartment Communities by 24.0% during the fourth quarter. Virtu Financial LLC now owns 3,580 shares of the real estate investment trust’s stock worth $481,000 after acquiring an additional 693 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in Mid-America Apartment Communities by 12.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 44,464 shares of the real estate investment trust’s stock worth $5,979,000 after acquiring an additional 4,861 shares during the last quarter. Wellington Management Group LLP boosted its position in Mid-America Apartment Communities by 323.8% during the fourth quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock worth $5,430,000 after acquiring an additional 30,855 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Mid-America Apartment Communities during the fourth quarter worth about $249,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on MAA shares. The Goldman Sachs Group started coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price on the stock. Scotiabank boosted their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. JMP Securities boosted their target price on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of 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, UBS Group boosted their target price on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $159.91.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $153.42 on Friday. The company’s 50 day simple moving average is $157.91 and its 200-day simple moving average is $143.51. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 2.47 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $167.39. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is currently 133.94%.

Mid-America Apartment Communities Company 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.