BBR Partners LLC Sells 21,200 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

BBR Partners LLC lowered its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 93.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,398 shares of the real estate investment trust’s stock after selling 21,200 shares during the quarter. BBR Partners LLC’s holdings in Mid-America Apartment Communities were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in Mid-America Apartment Communities by 0.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 155,906 shares of the real estate investment trust’s stock worth $20,515,000 after acquiring an additional 492 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of Mid-America Apartment Communities by 5.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock worth $227,000 after buying an additional 90 shares in the last quarter. Virtu Financial LLC boosted its stake in Mid-America Apartment Communities by 56.6% during the first quarter. Virtu Financial LLC now owns 5,607 shares of the real estate investment trust’s stock valued at $738,000 after buying an additional 2,027 shares during the period. Swedbank AB purchased a new position in Mid-America Apartment Communities during the first quarter worth about $26,107,000. Finally, PGGM Investments increased its stake in Mid-America Apartment Communities by 2.2% in the 1st quarter. PGGM Investments now owns 23,201 shares of the real estate investment trust’s stock worth $3,053,000 after acquiring an additional 496 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Up 1.3 %

Shares of NYSE MAA opened at $165.20 on Thursday. The company has a market cap of $19.31 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 2.61 and a beta of 0.88. 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’s fifty day moving average is $156.65 and its 200 day moving average is $149.52. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data 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 firm had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. Mid-America Apartment Communities’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.29 EPS. On average, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

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

Analysts Set New Price Targets

MAA has been the subject of several recent analyst reports. Scotiabank cut their price objective on 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. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. Wedbush raised their price objective on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. StockNews.com cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Finally, Truist Financial lifted their price target on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $161.64.

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.