Wellington Management Group LLP Lowers Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wellington Management Group LLP reduced its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.5% in the third quarter, Holdings Channel.com reports. The firm owned 45,579 shares of the real estate investment trust’s stock after selling 701 shares during the quarter. Wellington Management Group LLP’s holdings in Mid-America Apartment Communities were worth $7,243,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in Mid-America Apartment Communities in the third quarter worth approximately $25,000. EdgeRock Capital LLC purchased a new position in Mid-America Apartment Communities in the 2nd quarter worth $26,000. Activest Wealth Management bought a new stake in Mid-America Apartment Communities in the third quarter worth $32,000. UMB Bank n.a. boosted its position in Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 108 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Mid-America Apartment Communities during the third quarter valued at about $37,000. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $158.57 on Tuesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The stock has a market cap of $18.53 billion, a P/E ratio of 35.79, a P/E/G ratio of 2.55 and a beta of 0.90. The business’s 50 day moving average price is $156.93 and its 200-day moving average price is $152.08. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The company had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 earnings per share. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $1.515 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 annualized dividend and a yield of 3.82%. Mid-America Apartment Communities’s payout ratio is 136.79%.

Wall Street Analyst Weigh In

MAA has been the topic of several recent research reports. Scotiabank reduced their price target on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Royal Bank of Canada decreased their target price on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. 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 for the company in a report on Monday, October 21st. Finally, Piper Sandler boosted their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $162.68.

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.