Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Ascent Group LLC

Ascent Group LLC lessened its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 13.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,940 shares of the real estate investment trust’s stock after selling 296 shares during the quarter. Ascent Group LLC’s holdings in Mid-America Apartment Communities were worth $277,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. EdgeRock Capital LLC acquired a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $26,000. DecisionPoint Financial LLC acquired a new position in shares of Mid-America Apartment Communities in the 1st quarter valued at about $26,000. Versant Capital Management Inc lifted its holdings in shares of Mid-America Apartment Communities by 3,071.4% in the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 215 shares during the period. Mather Group LLC. acquired a new position in shares of Mid-America Apartment Communities in the 1st quarter valued at about $32,000. Finally, UMB Bank n.a. lifted its holdings in shares of Mid-America Apartment Communities by 82.4% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MAA shares. Janney Montgomery Scott upgraded Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Thursday, June 13th. UBS Group lifted their price target on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research note on Thursday, July 18th. BNP Paribas started coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price target for the company. The Goldman Sachs Group started coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price target for the company. Finally, Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price target for the company from $144.00 to $189.00 in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $159.91.

Mid-America Apartment Communities Trading Down 0.7 %

Shares of Mid-America Apartment Communities stock opened at $157.81 on Wednesday. The stock has a market cap of $18.44 billion, a P/E ratio of 33.08, a P/E/G ratio of 2.63 and a beta of 0.88. The stock’s 50 day simple moving average is $155.92 and its 200-day simple moving average is $142.19. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $167.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

About Mid-America Apartment Communities

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.