Daiwa Securities Group Inc. Sells 300,492 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Daiwa Securities Group Inc. reduced its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 84.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,803 shares of the real estate investment trust’s stock after selling 300,492 shares during the period. Daiwa Securities Group Inc.’s holdings in Mid-America Apartment Communities were worth $8,708,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Duquesne Family Office LLC purchased a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at $91,868,000. Long Pond Capital LP raised its position in Mid-America Apartment Communities by 550.9% in the second quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock worth $92,270,000 after acquiring an additional 547,607 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Mid-America Apartment Communities by 17.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after acquiring an additional 393,067 shares during the last quarter. Ceredex Value Advisors LLC grew its position in shares of Mid-America Apartment Communities by 107.1% during the 2nd quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock valued at $94,424,000 after acquiring an additional 342,335 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Mid-America Apartment Communities by 176.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 339,081 shares of the real estate investment trust’s stock worth $48,356,000 after purchasing an additional 216,610 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. The Goldman Sachs Group initiated coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective on the stock. Wedbush boosted their price objective 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. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price for the company in a research report on Monday, October 21st. BNP Paribas initiated coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price target on the stock. Finally, Truist Financial raised their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Two research analysts have rated the stock with a sell rating, eight have issued 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 presently has a consensus rating of “Hold” and an average price target of $161.64.

Mid-America Apartment Communities Trading Up 0.7 %

NYSE MAA opened at $162.00 on Tuesday. The company has a market capitalization of $18.93 billion, a price-to-earnings ratio of 36.57, a PEG ratio of 2.59 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. Mid-America Apartment Communities, Inc. has a twelve month low of $121.51 and a twelve month high of $167.39. The stock’s 50-day simple moving average is $156.76 and its two-hundred day simple moving average is $149.14.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. During the same quarter in the previous year, the business earned $2.29 EPS. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% compared to the same quarter last year. Research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.63%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

Mid-America Apartment Communities Profile

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.