Thrivent Financial for Lutherans Sells 1,290 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Thrivent Financial for Lutherans cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 9.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,517 shares of the real estate investment trust’s stock after selling 1,290 shares during the period. Thrivent Financial for Lutherans’ holdings in Mid-America Apartment Communities were worth $1,989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. QRG Capital Management Inc. lifted its stake in Mid-America Apartment Communities by 12.8% in the 2nd quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock worth $4,352,000 after purchasing an additional 3,451 shares in the last quarter. Swedbank AB purchased a new stake in Mid-America Apartment Communities in the 1st quarter worth approximately $26,107,000. Prosperity Consulting Group LLC purchased a new stake in Mid-America Apartment Communities in the 2nd quarter worth approximately $2,572,000. Portside Wealth Group LLC purchased a new stake in Mid-America Apartment Communities in the 2nd quarter worth approximately $808,000. Finally, Bank of Montreal Can lifted 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. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Trading Up 1.3 %

Shares of MAA opened at $165.20 on Friday. The stock has a market capitalization of $19.31 billion, a P/E ratio of 37.29, a PEG ratio of 2.61 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a twelve month low of $121.51 and a twelve month high of $167.39. 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 firm has a fifty day simple moving average of $156.68 and a two-hundred day simple moving average of $149.63.

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 the consensus estimate of $2.18 by ($1.20). The business had revenue of $551.13 million during 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 firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.29 earnings per share. On average, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 132.73%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MAA. Royal Bank of Canada lowered their target price on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Scotiabank dropped their price objective on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. Finally, Wedbush increased their target price on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $162.68.

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.