Sheaff Brock Investment Advisors LLC Cuts Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Sheaff Brock Investment Advisors LLC cut its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 8,208 shares of the real estate investment trust’s stock after selling 90 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Mid-America Apartment Communities were worth $1,304,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new position in Mid-America Apartment Communities during the 3rd quarter valued at approximately $25,000. EdgeRock Capital LLC bought a new position in Mid-America Apartment Communities during the 2nd quarter valued at approximately $26,000. Versant Capital Management Inc increased its position in Mid-America Apartment Communities by 3,071.4% during 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 in the last quarter. UMB Bank n.a. boosted its stake in Mid-America Apartment Communities by 82.4% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Mid-America Apartment Communities during the 3rd quarter valued at $37,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Up 0.5 %

Shares of NYSE:MAA opened at $158.09 on Friday. Mid-America Apartment Communities, Inc. has a 1 year low of $120.32 and a 1 year high of $167.39. The business has a 50 day simple moving average of $157.27 and a two-hundred day simple moving average of $148.02. The firm has a market capitalization of $18.48 billion, a PE ratio of 35.69, a price-to-earnings-growth ratio of 2.60 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results 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%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.29 EPS. On average, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a $1.47 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.72%. Mid-America Apartment Communities’s payout ratio is 132.73%.

Analyst Ratings Changes

MAA has been the topic of a number of research reports. Wedbush raised their price target on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Piper Sandler raised their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada decreased their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Scotiabank reduced their target price on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $138.00 to $174.00 in a report on Monday, August 26th. Two equities research 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 company. According to MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Hold” and an average target price of $161.64.

Mid-America Apartment Communities Company 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.