Mid-America Apartment Communities, Inc. (NYSE:MAA) Position Lowered by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 33.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,104 shares of the real estate investment trust's stock after selling 14,042 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Mid-America Apartment Communities were worth $4,466,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC purchased a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $25,000. EdgeRock Capital LLC purchased a new position in shares of Mid-America Apartment Communities during the second quarter valued at approximately $26,000. Versant Capital Management Inc boosted its position in Mid-America Apartment Communities by 3,071.4% during the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 215 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new stake in Mid-America Apartment Communities in the 3rd quarter worth approximately $37,000. Finally, UMB Bank n.a. raised its holdings in Mid-America Apartment Communities by 82.4% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 108 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on MAA. Bank of America upgraded Mid-America Apartment Communities from an "underperform" rating to a "buy" rating and raised their price objective for the stock from $144.00 to $189.00 in a report on Monday, August 12th. UBS Group lifted their price target on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a "sell" rating in a report on Thursday, July 18th. 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 on the stock in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a "hold" rating in a report on Tuesday, September 10th. Finally, StockNews.com downgraded shares of Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research note on Tuesday, November 5th. Two equities 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $161.69.

Mid-America Apartment Communities Stock Up 1.0 %

Shares of MAA stock traded up $1.58 on Wednesday, hitting $161.34. The stock had a trading volume of 663,162 shares, compared to its average volume of 753,988. Mid-America Apartment Communities, Inc. has a 52-week low of $120.32 and a 52-week high of $167.39. The firm has a market capitalization of $18.86 billion, a price-to-earnings ratio of 36.56, a P/E/G ratio of 2.57 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. The stock's 50 day moving average is $157.40 and its 200-day moving average is $147.67.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share 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 business had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. The firm's revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 earnings per share. As a group, research analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 132.73%.

About Mid-America Apartment Communities

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.