RFG Advisory LLC Sells 77 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

RFG Advisory LLC lessened its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,419 shares of the real estate investment trust’s stock after selling 77 shares during the quarter. RFG Advisory LLC’s holdings in Mid-America Apartment Communities were worth $1,765,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pacer Advisors Inc. grew its holdings in Mid-America Apartment Communities by 4.6% in the 2nd quarter. Pacer Advisors Inc. now owns 8,274 shares of the real estate investment trust’s stock valued at $1,180,000 after buying an additional 365 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Mid-America Apartment Communities by 252.3% in the second quarter. EverSource Wealth Advisors LLC now owns 391 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 280 shares in the last quarter. Public Sector Pension Investment Board increased its position in Mid-America Apartment Communities by 16.0% during the second quarter. Public Sector Pension Investment Board now owns 16,201 shares of the real estate investment trust’s stock worth $2,310,000 after acquiring an additional 2,230 shares during the period. Bank of Montreal Can raised its stake in Mid-America Apartment Communities by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 156,374 shares of the real estate investment trust’s stock worth $22,446,000 after purchasing an additional 8,984 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Mid-America Apartment Communities by 60.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,353 shares of the real estate investment trust’s stock valued at $3,188,000 after purchasing an additional 8,422 shares during the period. Institutional investors own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MAA. Mizuho lowered 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 report on Monday, January 6th. StockNews.com cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a research report on Tuesday, December 17th. Royal Bank of Canada decreased their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Friday, November 1st. Finally, Evercore ISI started coverage on shares of Mid-America Apartment Communities in a research report on Friday. They set an “inline” rating and a $155.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus target price of $166.00.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $148.38 on Friday. 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 stock has a market cap of $17.34 billion, a PE ratio of 33.49, a PEG ratio of 2.37 and a beta of 0.91. Mid-America Apartment Communities, Inc. has a 12-month low of $121.51 and a 12-month high of $167.39. The business has a 50-day simple moving average of $155.13 and a two-hundred day simple moving average of $154.50.

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). The firm had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.29 earnings per share. Analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.89 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s payout ratio is 136.79%.

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.