Citigroup Inc. Has $17.28 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Citigroup Inc. lessened its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 26.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 108,737 shares of the real estate investment trust’s stock after selling 38,684 shares during the quarter. Citigroup Inc.’s holdings in Mid-America Apartment Communities were worth $17,278,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. QRG Capital Management Inc. grew its stake in Mid-America Apartment Communities by 12.8% in the 2nd quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock valued at $4,352,000 after buying an additional 3,451 shares during the last quarter. Swedbank AB bought a new stake in Mid-America Apartment Communities during the first quarter valued at about $26,107,000. Prosperity Consulting Group LLC acquired a new stake in shares of Mid-America Apartment Communities in the second quarter valued at about $2,572,000. Portside Wealth Group LLC bought a new position in shares of Mid-America Apartment Communities in the second quarter worth about $808,000. Finally, Bank of Montreal Can lifted its position in shares of Mid-America Apartment Communities by 6.1% during the 2nd quarter. Bank of Montreal Can now owns 156,374 shares of the real estate investment trust’s stock worth $22,446,000 after purchasing an additional 8,984 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Up 1.3 %

MAA opened at $165.20 on Thursday. The firm has a market cap of $19.31 billion, a price-to-earnings ratio of 36.83, a PEG ratio of 2.61 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 firm’s 50-day simple moving average is $156.65 and its 200-day simple moving average is $149.52. Mid-America Apartment Communities, Inc. has a twelve month low of $121.51 and a twelve month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data 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 return on equity of 8.38% and a net margin of 23.84%. The firm had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. During the same period in the prior year, the company posted $2.29 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.56%. Mid-America Apartment Communities’s payout ratio is 132.73%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MAA. Raymond James raised 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 report on Monday, October 21st. StockNews.com cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Royal Bank of Canada cut their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $161.64.

Mid-America Apartment Communities Company Profile

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.