Sumitomo Mitsui Trust Group Inc. Has $57.19 Million Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Sumitomo Mitsui Trust Group Inc. lessened its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 359,926 shares of the real estate investment trust’s stock after selling 2,393 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Mid-America Apartment Communities were worth $57,192,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Johnson Investment Counsel Inc. boosted its holdings in Mid-America Apartment Communities by 1.1% during the second quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock valued at $996,000 after acquiring an additional 77 shares during the period. Telos Capital Management Inc. grew its stake in shares of Mid-America Apartment Communities by 0.8% in the 2nd quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock valued at $1,437,000 after purchasing an additional 78 shares during the period. V Square Quantitative Management LLC boosted its stake in Mid-America Apartment Communities by 6.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 87 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Mid-America Apartment Communities by 5.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 90 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Mid-America Apartment Communities by 12.3% in the 1st quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Down 2.5 %

NYSE:MAA opened at $157.37 on Friday. The company has a market cap of $18.39 billion, a PE ratio of 35.52, a PEG ratio of 2.57 and a beta of 0.88. The stock has a 50-day simple moving average of $157.29 and a 200 day simple moving average of $147.84. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. Mid-America Apartment Communities, Inc. has a 52-week low of $120.32 and a 52-week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results 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). The business had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 earnings per share. On average, sell-side analysts expect 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. Stockholders of record on Tuesday, October 15th were paid a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.74%. Mid-America Apartment Communities’s dividend payout ratio is 132.73%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MAA shares. Scotiabank decreased their target price on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price for the company. Finally, Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Two research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $161.64.

About Mid-America Apartment Communities

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.