LGT Financial Advisors LLC Cuts Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

LGT Financial Advisors LLC cut its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 46.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 230 shares of the real estate investment trust’s stock after selling 200 shares during the period. LGT Financial Advisors LLC’s holdings in Mid-America Apartment Communities were worth $37,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Mid-America Apartment Communities by 13.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,480 shares of the real estate investment trust’s stock valued at $3,103,000 after acquiring an additional 2,727 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Mid-America Apartment Communities by 0.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 21,935 shares of the real estate investment trust’s stock worth $2,886,000 after purchasing an additional 201 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Mid-America Apartment Communities by 77.8% in the 1st quarter. Whittier Trust Co. now owns 1,143 shares of the real estate investment trust’s stock worth $150,000 after purchasing an additional 500 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Mid-America Apartment Communities by 34.4% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,859 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 987 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Mid-America Apartment Communities during the first quarter valued at $232,000. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

MAA stock opened at $153.59 on Thursday. Mid-America Apartment Communities, Inc. has a 1-year low of $118.68 and a 1-year high of $167.39. The business has a 50-day moving average price of $157.72 and a 200 day moving average price of $146.68. The company has a market capitalization of $17.95 billion, a P/E ratio of 34.67, a PEG ratio of 2.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS 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 business had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same quarter in the prior year, the firm posted $2.29 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.83%. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Wall Street Analyst Weigh In

MAA has been the subject of several research analyst reports. BNP Paribas began coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective for the company. Royal Bank of Canada decreased their price objective on shares of 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. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and increased their price objective for the company from $144.00 to $189.00 in a research report on Monday, August 12th. UBS Group lifted their target price on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a research report on Thursday, July 18th. Finally, StockNews.com cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus price target of $161.69.

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.