Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 33.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,104 shares of the real estate investment trust’s stock after selling 14,042 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Mid-America Apartment Communities were worth $4,466,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Johnson Investment Counsel Inc. grew its position in Mid-America Apartment Communities by 1.1% in the second quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock valued at $996,000 after acquiring an additional 77 shares in the last quarter. Telos Capital Management Inc. grew its holdings in Mid-America Apartment Communities by 0.8% during the 2nd quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock valued at $1,437,000 after purchasing an additional 78 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Mid-America Apartment Communities by 6.4% during the 3rd quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock worth $229,000 after buying an additional 87 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Mid-America Apartment Communities by 5.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock worth $227,000 after buying an additional 90 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in Mid-America Apartment Communities by 12.3% in the 1st quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Down 0.2 %

Shares of NYSE MAA opened at $159.76 on Wednesday. The company has a market cap of $18.67 billion, a price-to-earnings ratio of 36.06, a price-to-earnings-growth ratio of 2.58 and a beta of 0.88. The stock’s 50 day simple moving average is $157.40 and its 200 day simple moving average is $147.67. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 12-month low of $118.72 and a 12-month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results 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). The company had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.29 earnings per share. Equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.68%. Mid-America Apartment Communities’s payout ratio is currently 132.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Piper Sandler lifted their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. BNP Paribas assumed coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price objective on the stock. Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price for the company in a research note on Monday, October 21st. UBS Group lifted their price target on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a research note on Thursday, July 18th. Finally, JMP Securities increased their price objective on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $161.69.

Mid-America Apartment Communities 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.