Livforsakringsbolaget Skandia Omsesidigt Reduces Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Livforsakringsbolaget Skandia Omsesidigt cut its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 54.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 421 shares of the real estate investment trust’s stock after selling 500 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Mid-America Apartment Communities were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in MAA. Raymond James Financial Services Advisors Inc. increased its position in Mid-America Apartment Communities by 23.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,587 shares of the real estate investment trust’s stock valued at $1,558,000 after acquiring an additional 2,170 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Mid-America Apartment Communities during the fourth quarter valued at approximately $145,000. Sequoia Financial Advisors LLC bought a new position in Mid-America Apartment Communities in the fourth quarter worth approximately $242,000. Cerity Partners LLC purchased a new position in shares of Mid-America Apartment Communities during the 4th quarter worth $480,000. Finally, Clarius Group LLC bought a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at $212,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Trading Down 0.1 %

MAA stock traded down $0.11 during trading on Monday, hitting $152.96. The company had a trading volume of 229,234 shares, compared to its average volume of 775,063. The firm has a market capitalization of $17.87 billion, a P/E ratio of 32.10, a PEG ratio of 3.27 and a beta of 0.85. The company has a 50 day simple moving average of $141.70 and a 200-day simple moving average of $134.17. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $154.65. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were paid a $1.47 dividend. The ex-dividend date of this dividend was Monday, July 15th. This represents a $5.88 annualized dividend and a yield of 3.84%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 123.27%.

Analysts Set New Price Targets

Several research firms recently weighed in on MAA. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their target price for the company from $144.00 to $189.00 in a research report on Monday. Wells Fargo & Company raised their target price on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Mizuho upped their price target on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Truist Financial boosted their price objective on Mid-America Apartment Communities from $148.00 to $156.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Finally, Scotiabank increased their price objective on shares of Mid-America Apartment Communities from $144.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus price target of $150.09.

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.