Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by First Sabrepoint Capital Management LP

First Sabrepoint Capital Management LP lessened its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 28.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 100,000 shares of the real estate investment trust's stock after selling 40,000 shares during the period. Mid-America Apartment Communities comprises approximately 4.6% of First Sabrepoint Capital Management LP's investment portfolio, making the stock its 5th biggest holding. First Sabrepoint Capital Management LP owned approximately 0.09% of Mid-America Apartment Communities worth $15,890,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Johnson Investment Counsel Inc. lifted its position in shares of Mid-America Apartment Communities by 1.1% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust's stock worth $996,000 after purchasing an additional 77 shares during the period. Telos Capital Management Inc. lifted its holdings in Mid-America Apartment Communities by 0.8% during the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust's stock worth $1,437,000 after buying an additional 78 shares during the period. Brown Brothers Harriman & Co. boosted its position in Mid-America Apartment Communities by 1.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust's stock valued at $962,000 after acquiring an additional 82 shares in the last quarter. First Commonwealth Financial Corp PA boosted its position in Mid-America Apartment Communities by 2.1% during the 3rd quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust's stock valued at $664,000 after acquiring an additional 86 shares in the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Mid-America Apartment Communities by 6.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust's stock valued at $229,000 after acquiring an additional 87 shares during the period. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Price Performance

Shares of MAA stock traded down $1.02 during mid-day trading on Tuesday, hitting $158.13. 277,025 shares of the stock were exchanged, compared to its average volume of 740,497. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The company has a market cap of $18.48 billion, a PE ratio of 35.88, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90. The firm has a fifty day moving average of $156.67 and a 200 day moving average of $151.12.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued 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 business had revenue of $551.13 million for the quarter, compared to analysts' expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 EPS. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MAA shares. The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a "buy" rating and a $187.00 price objective on the stock. Scotiabank lowered their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Royal Bank of Canada reduced their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a "sector perform" rating for the company in a research note on Friday, November 1st. Piper Sandler increased their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. Finally, BNP Paribas started coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a "neutral" rating and a $169.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $162.68.

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.