Mid-America Apartment Communities, Inc. $MAA Stock: Sumitomo Mitsui Trust Group Inc. Lowers Position

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 322,371 shares of the real estate investment trust’s stock after selling 7,154 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Mid-America Apartment Communities were worth $37,956,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MAA. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at $3,817,000. Profund Advisors LLC raised its stake in shares of Mid-America Apartment Communities by 41.7% during the 3rd quarter. Profund Advisors LLC now owns 2,158 shares of the real estate investment trust’s stock worth $254,000 after buying an additional 635 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Mid-America Apartment Communities by 1.7% during the 3rd quarter. ProShare Advisors LLC now owns 22,525 shares of the real estate investment trust’s stock worth $2,652,000 after purchasing an additional 379 shares during the last quarter. State of Wyoming purchased a new stake in shares of Mid-America Apartment Communities during the 3rd quarter valued at about $192,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Mid-America Apartment Communities by 8.7% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 67,248 shares of the real estate investment trust’s stock worth $7,918,000 after purchasing an additional 5,400 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Trading Up 4.1%

NYSE:MAA opened at $122.15 on Thursday. Mid-America Apartment Communities, Inc. has a 12 month low of $113.95 and a 12 month high of $144.41. The firm has a fifty day simple moving average of $120.61 and a two-hundred day simple moving average of $128.93. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $14.17 billion, a price-to-earnings ratio of 37.01 and a beta of 0.71.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, October 28th. The real estate investment trust reported $0.72 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.38). Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. The firm had revenue of $560.13 million for the quarter, compared to the consensus estimate of $558.07 million. During the same period in the prior year, the business earned $2.16 EPS. Mid-America Apartment Communities’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts expect that Mid-America Apartment Communities, Inc. will post 8.50 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were given a dividend of $1.53 per share. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $6.12 annualized dividend and a yield of 5.0%. Mid-America Apartment Communities’s dividend payout ratio is presently 185.45%.

Insider Transactions at Mid-America Apartment Communities

In related news, EVP Adrian Hill bought 844 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were purchased at an average cost of $118.35 per share, with a total value of $99,887.40. Following the completion of the purchase, the executive vice president owned 65,277 shares in the company, valued at approximately $7,725,532.95. The trade was a 1.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on MAA. KeyCorp reiterated an “overweight” rating on shares of Mid-America Apartment Communities in a report on Tuesday, September 29th. Wells Fargo & Company lowered their price target on Mid-America Apartment Communities from $146.00 to $131.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Scotiabank lowered their price objective on shares of Mid-America Apartment Communities from $134.00 to $125.00 and set a “sector underperform” rating for the company in a research report on Thursday, September 17th. JPMorgan Chase & Co. started coverage on Mid-America Apartment Communities in a research report on Thursday, July 16th. They set a “neutral” rating and a $147.00 target price for the company. Finally, Jefferies Financial Group upgraded Mid-America Apartment Communities to a “hold” rating in a report on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $138.06.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc (NYSE: MAA) is a real estate investment trust that owns, operates and develops multifamily apartment communities. Its portfolio is focused primarily on conventional apartment housing, with properties offering a range of floor plans and amenities designed for individual renters, couples and families.

MAA concentrates its operations in high-growth markets across the Sun Belt, including communities in the Southeast, Southwest and Mid-Atlantic regions of the United States.