RKL Wealth Management LLC Trims Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

RKL Wealth Management LLC decreased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 5.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,611 shares of the real estate investment trust’s stock after selling 384 shares during the period. RKL Wealth Management LLC’s holdings in Mid-America Apartment Communities were worth $1,051,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EdgeRock Capital LLC purchased a new stake in Mid-America Apartment Communities in the second quarter worth about $26,000. Versant Capital Management Inc raised its stake in Mid-America Apartment Communities by 3,071.4% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 215 shares during the period. Catalyst Capital Advisors LLC bought a new stake in Mid-America Apartment Communities during the 3rd quarter valued at approximately $37,000. UMB Bank n.a. raised its stake in Mid-America Apartment Communities by 82.4% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares during the period. Finally, Capital Advisors Ltd. LLC raised its stake in Mid-America Apartment Communities by 305.1% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 316 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 238 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 2.9 %

MAA stock opened at $159.14 on Friday. The company has a market capitalization of $18.60 billion, a PE ratio of 35.92, a P/E/G ratio of 2.47 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 12 month low of $118.72 and a 12 month high of $167.39. The firm’s 50-day moving average is $157.53 and its 200 day moving average is $147.10. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate 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 quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 EPS. On average, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 132.73%.

Analysts Set New Price Targets

Several analysts recently issued reports on MAA shares. 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 research note on Monday, October 21st. Scotiabank increased their price objective on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. Piper Sandler increased their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. UBS Group increased their price objective on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada lowered 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $161.69.

Mid-America Apartment Communities 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.