Mid-America Apartment Communities, Inc. $MAA Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 322,371 shares of the real estate investment trust’s stock after selling 7,154 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of Mid-America Apartment Communities worth $37,956,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Mid-America Apartment Communities during the second quarter valued at approximately $1,820,661,000. Dimensional Fund Advisors LP increased its stake in Mid-America Apartment Communities by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,772,445 shares of the real estate investment trust’s stock valued at $216,450,000 after purchasing an additional 63,519 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Mid-America Apartment Communities in the second quarter worth about $175,377,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Mid-America Apartment Communities by 15,892.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,221,025 shares of the real estate investment trust’s stock valued at $169,649,000 after acquiring an additional 1,213,390 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter worth about $155,052,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Insider Activity

In other Mid-America Apartment Communities news, EVP Adrian Hill purchased 844 shares of the company’s stock in a transaction on Friday, October 30th. The stock was acquired at an average cost of $118.35 per share, for a total transaction of $99,887.40. Following the purchase, the executive vice president directly owned 65,277 shares of the company’s stock, valued at $7,725,532.95. This trade represents a 1.31% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

MAA has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Mid-America Apartment Communities in a report on Thursday, August 27th. Citigroup reiterated a “market outperform” rating on shares of Mid-America Apartment Communities in a research report on Friday, October 30th. Wall Street Zen downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Sunday, October 25th. Morgan Stanley reduced their price target on shares of Mid-America Apartment Communities from $155.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday, August 12th. Finally, UBS Group reduced their price target on shares of Mid-America Apartment Communities from $129.00 to $123.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities has an average rating of “Hold” and an average target price of $138.06.

Mid-America Apartment Communities Price Performance

MAA stock opened at $122.15 on Thursday. Mid-America Apartment Communities, Inc. has a 1 year low of $113.95 and a 1 year high of $144.41. The stock has a market capitalization of $14.17 billion, a PE ratio of 37.01 and a beta of 0.71. The company’s 50-day moving average is $120.61 and its 200-day moving average is $128.93. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.11 and a quick ratio of 0.11.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, October 28th. The real estate investment trust reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.38). The company had revenue of $560.13 million for the quarter, compared to the consensus estimate of $558.07 million. Mid-America Apartment Communities had a net margin of 17.43% and a return on equity of 6.89%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.16 earnings per share. Equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.50 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 15th were given a dividend of $1.53 per share. The ex-dividend date was Thursday, October 15th. This represents a $6.12 dividend on an annualized basis and a yield of 5.0%. Mid-America Apartment Communities’s dividend payout ratio is 185.45%.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc (NYSE: MAA) is a real estate investment trust that owns, operates and develops multifamily apartment communities. Its portfolio is focused primarily on conventional apartment housing, with properties offering a range of floor plans and amenities designed for individual renters, couples and families.

MAA concentrates its operations in high-growth markets across the Sun Belt, including communities in the Southeast, Southwest and Mid-Atlantic regions of the United States.