First Citizens Bank & Trust Co. trimmed its position in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 16.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,012 shares of the real estate investment trust’s stock after selling 1,935 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Mid-America Apartment Communities were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Orion Portfolio Solutions LLC lifted its position in Mid-America Apartment Communities by 70.6% in the second quarter. Orion Portfolio Solutions LLC now owns 655 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 271 shares during the last quarter. Nachman Norwood & Parrott Inc purchased a new stake in shares of Mid-America Apartment Communities in the third quarter worth $110,000. Private Advisor Group LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter worth $133,000. Tower Research Capital LLC TRC boosted its position in shares of Mid-America Apartment Communities by 1,033.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,372 shares of the real estate investment trust’s stock valued at $141,000 after buying an additional 1,251 shares during the last quarter. Finally, Leelyn Smith LLC boosted its position in shares of Mid-America Apartment Communities by 13.9% during the second quarter. Leelyn Smith LLC now owns 1,230 shares of the real estate investment trust’s stock valued at $141,000 after buying an additional 150 shares during the last quarter. 91.56% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on the company. BMO Capital Markets reaffirmed a “buy” rating on shares of Mid-America Apartment Communities in a research report on Thursday, August 6th. Truist increased their price objective on Mid-America Apartment Communities from $119.00 to $122.00 in a research report on Tuesday, August 18th. Finally, Jefferies Financial Group raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and increased their price objective for the company from $123.00 to $148.00 in a research report on Tuesday, October 13th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $132.10.
Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $1.52 by ($0.87). Mid-America Apartment Communities had a net margin of 20.38% and a return on equity of 5.57%. The business had revenue of $413.03 million for the quarter, compared to analysts’ expectations of $413.40 million. During the same period in the prior year, the company posted $1.37 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts forecast that Mid-America Apartment Communities Inc will post 6.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be issued a dividend of $1.00 per share. The ex-dividend date is Wednesday, October 14th. This represents a $4.00 dividend on an annualized basis and a yield of 3.35%. Mid-America Apartment Communities’s dividend payout ratio is currently 61.07%.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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