Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Red Door Wealth Management LLC

Red Door Wealth Management LLC decreased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,346 shares of the real estate investment trust’s stock after selling 618 shares during the quarter. Red Door Wealth Management LLC’s holdings in Mid-America Apartment Communities were worth $5,618,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Inspire Investing LLC boosted its holdings in Mid-America Apartment Communities by 0.9% in the 4th quarter. Inspire Investing LLC now owns 7,978 shares of the real estate investment trust’s stock worth $1,233,000 after buying an additional 68 shares during the last quarter. Chesley Taft & Associates LLC lifted its position in shares of Mid-America Apartment Communities by 1.6% in the fourth quarter. Chesley Taft & Associates LLC now owns 4,828 shares of the real estate investment trust’s stock valued at $746,000 after acquiring an additional 75 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Mid-America Apartment Communities by 30.5% in the fourth quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 75 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Mid-America Apartment Communities by 1.4% during the third quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust’s stock worth $962,000 after purchasing an additional 82 shares in the last quarter. Finally, First Commonwealth Financial Corp PA raised its stake in Mid-America Apartment Communities by 2.1% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust’s stock valued at $664,000 after purchasing an additional 86 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $146.97 on Friday. Mid-America Apartment Communities, Inc. has a fifty-two week low of $121.51 and a fifty-two week high of $167.39. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. The company has a 50 day moving average price of $155.33 and a 200 day moving average price of $154.33. The stock has a market capitalization of $17.18 billion, a P/E ratio of 33.18, a PEG ratio of 2.41 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 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.20). The firm had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 earnings per share. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.89 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.515 per share. The ex-dividend date is 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 yield of 4.12%. Mid-America Apartment Communities’s dividend payout ratio is 136.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MAA shares. BMO Capital Markets dropped their target price on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a report on Tuesday. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a research note on Tuesday, December 17th. Mizuho decreased their target price on shares of 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 initiated coverage on Mid-America Apartment Communities in a report on Tuesday, December 17th. They set an “equal weight” rating and a $166.00 target price on the stock. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 price target on shares of Mid-America Apartment Communities in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, nine have given 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 price target of $166.29.

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.