New York Life Investment Management LLC Decreases Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

New York Life Investment Management LLC decreased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 43.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,506 shares of the real estate investment trust's stock after selling 13,623 shares during the period. New York Life Investment Management LLC's holdings in Mid-America Apartment Communities were worth $2,706,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MAA. Inspire Investing LLC increased its holdings in shares of Mid-America Apartment Communities by 0.9% in the fourth quarter. Inspire Investing LLC now owns 7,978 shares of the real estate investment trust's stock worth $1,233,000 after buying an additional 68 shares during the period. IFP Advisors Inc increased its stake in shares of Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 68 shares during the period. Sanctuary Advisors LLC increased its stake in shares of Mid-America Apartment Communities by 0.6% during the fourth quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust's stock valued at $1,704,000 after buying an additional 69 shares during the period. Chesley Taft & Associates LLC lifted its stake in Mid-America Apartment Communities by 1.6% in the fourth quarter. Chesley Taft & Associates LLC now owns 4,828 shares of the real estate investment trust's stock worth $746,000 after acquiring an additional 75 shares during the period. Finally, UMB Bank n.a. boosted its holdings in Mid-America Apartment Communities by 30.5% in the fourth quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 75 shares in the last quarter. Institutional investors own 93.60% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Scotiabank raised shares of Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $173.00 to $182.00 in a research note on Friday, February 14th. Barclays upped their target price on Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. BMO Capital Markets decreased their target price on Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating for the company in a research report on Tuesday, January 21st. Wells Fargo & Company dropped their price target on Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $160.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have given 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 "Moderate Buy" and an average price target of $167.00.

Mid-America Apartment Communities Stock Down 2.1 %

Shares of MAA traded down $3.62 on Thursday, hitting $166.41. 189,575 shares of the stock traded hands, compared to its average volume of 659,715. Mid-America Apartment Communities, Inc. has a one year low of $123.73 and a one year high of $173.38. The company has a market capitalization of $19.45 billion, a PE ratio of 37.14, a P/E/G ratio of 3.72 and a beta of 0.91. The business has a 50 day simple moving average of $155.39 and a 200 day simple moving average of $157.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. As a group, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were paid a dividend of $1.515 per share. The ex-dividend date was Wednesday, January 15th. This represents a $6.06 annualized dividend and a yield of 3.64%. This is a boost from Mid-America Apartment Communities's previous quarterly dividend of $1.47. Mid-America Apartment Communities's dividend payout ratio is currently 135.27%.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.