Diamond Hill Capital Management Inc. Sells 11,634 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Diamond Hill Capital Management Inc. reduced its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 2.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 540,498 shares of the real estate investment trust's stock after selling 11,634 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.46% of Mid-America Apartment Communities worth $85,885,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MAA. Empowered Funds LLC bought a new stake in Mid-America Apartment Communities during the 1st quarter valued at $232,000. SG Americas Securities LLC raised its holdings in Mid-America Apartment Communities by 173.4% during the 1st quarter. SG Americas Securities LLC now owns 38,666 shares of the real estate investment trust's stock valued at $5,088,000 after buying an additional 24,523 shares during the last quarter. Inspire Investing LLC raised its holdings in Mid-America Apartment Communities by 14.2% during the 1st quarter. Inspire Investing LLC now owns 11,914 shares of the real estate investment trust's stock valued at $1,568,000 after buying an additional 1,481 shares during the last quarter. QRG Capital Management Inc. raised its holdings in Mid-America Apartment Communities by 3.5% during the 1st quarter. QRG Capital Management Inc. now owns 27,065 shares of the real estate investment trust's stock valued at $3,561,000 after buying an additional 909 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Mid-America Apartment Communities by 16.7% during the 1st quarter. Russell Investments Group Ltd. now owns 311,466 shares of the real estate investment trust's stock valued at $40,901,000 after buying an additional 44,623 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Up 0.5 %

MAA stock traded up $0.78 during trading on Monday, hitting $159.92. 202,774 shares of the stock traded hands, compared to its average volume of 750,890. Mid-America Apartment Communities, Inc. has a 1 year low of $118.72 and a 1 year high of $167.39. The firm's 50 day moving average is $157.53 and its two-hundred day moving average is $147.23. The stock has a market cap of $18.69 billion, a price-to-earnings ratio of 35.92, a price-to-earnings-growth ratio of 2.56 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 - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm had revenue of $551.13 million for the quarter, compared to analysts' expectations of $548.53 million. During the same period last year, the company posted $2.29 earnings per share. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate 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 3.68%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities's dividend payout ratio is currently 132.73%.

Analyst Ratings Changes

Several brokerages have commented on MAA. 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a "hold" rating in a report on Tuesday, September 10th. Raymond James upgraded 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 report on Monday, October 21st. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a "buy" rating and a $187.00 price objective for the company. Finally, Truist Financial upped 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 given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $161.69.

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.