ING Groep NV Trims Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

ING Groep NV cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,631 shares of the real estate investment trust’s stock after selling 89 shares during the period. ING Groep NV’s holdings in Mid-America Apartment Communities were worth $2,484,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MAA. Empowered Funds LLC acquired a new stake in shares of Mid-America Apartment Communities during the 1st quarter worth about $232,000. Intech Investment Management LLC acquired a new stake in shares of Mid-America Apartment Communities during the first quarter valued at about $270,000. Covestor Ltd increased its position in shares of Mid-America Apartment Communities by 12.3% during the first quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 93 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at approximately $395,000. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of Mid-America Apartment Communities by 20.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 41,536 shares of the real estate investment trust’s stock worth $5,465,000 after acquiring an additional 7,114 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Trading Up 0.5 %

MAA opened at $158.09 on Friday. The business’s 50-day simple moving average is $157.27 and its 200-day simple moving average is $148.15. The company has a market cap of $18.48 billion, a P/E ratio of 35.69, a PEG ratio of 2.60 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a one year low of $120.32 and a one year high of $167.39. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09.

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 for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The company had revenue of $551.13 million for the quarter, compared to analyst estimates 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 posted $2.29 EPS. As a group, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BNP Paribas started coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price 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 report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their target price on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. StockNews.com lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Finally, Raymond James raised shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective for the company in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average 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.