River Road Asset Management LLC Sells 127,073 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

River Road Asset Management LLC decreased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 26.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,934 shares of the real estate investment trust's stock after selling 127,073 shares during the period. River Road Asset Management LLC owned about 0.31% of Mid-America Apartment Communities worth $56,876,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Mid-America Apartment Communities by 17.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust's stock valued at $375,515,000 after acquiring an additional 393,067 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Mid-America Apartment Communities by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust's stock valued at $244,803,000 after purchasing an additional 97,672 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Mid-America Apartment Communities by 2.8% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust's stock valued at $234,497,000 after purchasing an additional 44,621 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Mid-America Apartment Communities by 1.5% during the first quarter. Canada Pension Plan Investment Board now owns 1,444,641 shares of the real estate investment trust's stock worth $190,086,000 after purchasing an additional 21,000 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Mid-America Apartment Communities by 7.0% in the second quarter. 1832 Asset Management L.P. now owns 1,140,287 shares of the real estate investment trust's stock valued at $162,616,000 after buying an additional 74,936 shares during the period. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Up 1.9 %

Shares of MAA traded up $2.85 during trading hours on Tuesday, hitting $155.03. The stock had a trading volume of 562,921 shares, compared to its average volume of 754,028. The firm has a 50 day simple moving average of $157.98 and a 200-day simple moving average of $146.43. Mid-America Apartment Communities, Inc. has a 1-year low of $118.68 and a 1-year high of $167.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $18.12 billion, a P/E ratio of 34.35, a price-to-earnings-growth ratio of 2.40 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its 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). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same quarter in the prior year, the business earned $2.29 earnings per share. Mid-America Apartment Communities's revenue for the quarter was up 1.7% on a year-over-year basis. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.79%. Mid-America Apartment Communities's dividend payout ratio is presently 132.73%.

Analyst Ratings Changes

Several research firms recently commented on MAA. Raymond James upgraded shares of Mid-America Apartment Communities from a "market perform" rating to a "strong-buy" rating and set a $175.00 target price on the stock in a research report on Monday, October 21st. Wells Fargo & Company upgraded Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $138.00 to $174.00 in a report on Monday, August 26th. Bank of America raised Mid-America Apartment Communities from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $144.00 to $189.00 in a report on Monday, August 12th. Truist Financial raised their price objective on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a "buy" rating in a research report on Monday, August 26th. Finally, Wedbush upped their target price on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an "outperform" rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities has an average rating of "Moderate Buy" and a consensus price target of $161.69.

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.