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

Daiwa Securities Group Inc. trimmed its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 84.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.

Other hedge funds have also recently bought and sold shares of the company. Marco Investment Management LLC acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth about $208,000. Swedbank AB raised its holdings in Mid-America Apartment Communities by 2.6% in the 3rd quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust's stock valued at $32,350,000 after acquiring an additional 5,178 shares in the last quarter. Cerity Partners LLC lifted its position in Mid-America Apartment Communities by 169.7% during the third quarter. Cerity Partners LLC now owns 13,511 shares of the real estate investment trust's stock worth $2,147,000 after purchasing an additional 8,501 shares during the period. Raymond James Trust N.A. boosted its position in shares of Mid-America Apartment Communities by 386.6% during the 3rd quarter. Raymond James Trust N.A. now owns 6,948 shares of the real estate investment trust's stock worth $1,104,000 after acquiring an additional 5,520 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at $4,304,000. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Trading Up 0.7 %

NYSE MAA traded up $1.16 during trading on Tuesday, hitting $163.14. 520,414 shares of the company's stock traded hands, compared to its average volume of 747,251. The stock has a fifty day moving average of $156.67 and a two-hundred day moving average of $149.32. 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, Inc. has a 12-month low of $121.51 and a 12-month high of $167.39. The firm has a market cap of $19.07 billion, a P/E ratio of 36.85, a PEG ratio of 2.59 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued 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 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%. Mid-America Apartment Communities's quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.29 earnings per share. As a group, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.60%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities's dividend payout ratio is currently 132.73%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MAA. JMP Securities upped their price target on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a "market outperform" rating in a report on Friday, August 2nd. Raymond James raised Mid-America Apartment Communities from a "market perform" rating to a "strong-buy" rating and set a $175.00 price target on the stock in a research note on Monday, October 21st. 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 for the company. Bank of America upgraded shares of Mid-America Apartment Communities from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $144.00 to $189.00 in a report on Monday, August 12th. Finally, Scotiabank cut 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 research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of "Hold" and an average price target of $161.64.

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.