Barnes Pettey Financial Advisors LLC Has $1.05 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Barnes Pettey Financial Advisors LLC cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,767 shares of the real estate investment trust’s stock after selling 159 shares during the quarter. Mid-America Apartment Communities makes up 0.8% of Barnes Pettey Financial Advisors LLC’s holdings, making the stock its 28th biggest holding. Barnes Pettey Financial Advisors LLC’s holdings in Mid-America Apartment Communities were worth $1,046,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new position in shares of Mid-America Apartment Communities in the third quarter valued at approximately $25,000. Activest Wealth Management bought a new position in Mid-America Apartment Communities during the 3rd quarter worth approximately $32,000. Catalyst Capital Advisors LLC acquired a new position in Mid-America Apartment Communities in the third quarter valued at $37,000. Quarry LP acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $45,000. Finally, UMB Bank n.a. grew its position in shares of Mid-America Apartment Communities by 30.5% during the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 75 shares during the period. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Up 2.2 %

Shares of MAA opened at $151.78 on Friday. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39. The business’s fifty day moving average price is $154.58 and its two-hundred day moving average price is $154.70. 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 firm has a market capitalization of $17.74 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 2.39 and a beta of 0.91.

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 for the quarter, compared to analyst estimates 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 quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 EPS. On average, analysts predict that Mid-America Apartment Communities, Inc. will post 8.89 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a $1.515 dividend. The ex-dividend date is Wednesday, January 15th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 annualized dividend and a yield of 3.99%. Mid-America Apartment Communities’s dividend payout ratio is presently 136.79%.

Analyst Ratings Changes

A number of research analysts recently weighed in on MAA shares. StockNews.com lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. BMO Capital Markets reduced their price objective on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 21st. Mizuho reduced their price objective on 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. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price on the stock in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada dropped their price objective on 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and a consensus target price of $166.00.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.