Westpac Banking Corp Reduces Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Westpac Banking Corp trimmed its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 31.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,439 shares of the real estate investment trust’s stock after selling 661 shares during the period. Westpac Banking Corp’s holdings in Mid-America Apartment Communities were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Capital World Investors increased its stake in shares of Mid-America Apartment Communities by 45.9% during the 4th quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock worth $1,025,868,000 after purchasing an additional 2,088,143 shares in the last quarter. Northern Trust Corp increased its stake in shares of Mid-America Apartment Communities by 33.3% during the 4th quarter. Northern Trust Corp now owns 1,863,408 shares of the real estate investment trust’s stock worth $288,027,000 after purchasing an additional 465,414 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mid-America Apartment Communities by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,725,605 shares of the real estate investment trust’s stock worth $266,723,000 after purchasing an additional 24,407 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Mid-America Apartment Communities by 38.3% during the 1st quarter. Deutsche Bank AG now owns 1,695,832 shares of the real estate investment trust’s stock worth $284,188,000 after purchasing an additional 469,806 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Mid-America Apartment Communities by 5.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,128,986 shares of the real estate investment trust’s stock valued at $174,507,000 after buying an additional 54,763 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Truist Financial cut their price objective on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating for the company in a research report on Wednesday, May 21st. Barclays cut their price objective on shares of Mid-America Apartment Communities from $172.00 to $156.00 and set an “equal weight” rating for the company in a research report on Tuesday. Wall Street Zen raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Sunday. Robert W. Baird boosted their price objective on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Finally, Piper Sandler cut their price objective on shares of Mid-America Apartment Communities from $170.00 to $153.00 and set a “neutral” rating for the company in a research report on Monday, August 4th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $164.32.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $139.52 on Thursday. Mid-America Apartment Communities, Inc. has a 52-week low of $137.32 and a 52-week high of $173.38. The firm has a fifty day moving average of $148.06 and a 200-day moving average of $155.60. The firm has a market capitalization of $16.33 billion, a P/E ratio of 28.71, a PEG ratio of 3.70 and a beta of 0.75. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.83.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.01. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The company had revenue of $549.90 million during the quarter, compared to analyst estimates of $552.19 million. During the same quarter in the prior year, the business earned $2.22 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. As a group, analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were given a $1.515 dividend. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.06 annualized dividend and a dividend yield of 4.3%. Mid-America Apartment Communities’s dividend payout ratio is presently 124.69%.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.