Griffin Asset Management Inc. Decreases Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Griffin Asset Management Inc. decreased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 23.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,644 shares of the real estate investment trust’s stock after selling 494 shares during the quarter. Griffin Asset Management Inc.’s holdings in Mid-America Apartment Communities were worth $254,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Mid-America Apartment Communities during the third quarter worth $25,000. Activest Wealth Management purchased a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth about $32,000. Catalyst Capital Advisors LLC bought a new position in Mid-America Apartment Communities during the 3rd quarter valued at about $37,000. Quarry LP purchased a new stake in Mid-America Apartment Communities in the 3rd quarter worth about $45,000. Finally, UMB Bank n.a. lifted its stake in Mid-America Apartment Communities by 30.5% in the fourth quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Down 1.5 %

MAA opened at $151.28 on Wednesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 2.37 and a beta of 0.91. Mid-America Apartment Communities, Inc. has a 12 month low of $121.51 and a 12 month high of $167.39. The stock has a fifty day moving average price of $154.90 and a 200-day moving average price of $154.77.

Mid-America Apartment Communities (NYSE:MAA) last announced 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). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same quarter in the prior year, the firm posted $2.29 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.89 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. Investors of record on Wednesday, January 15th will be given a dividend of $1.515 per share. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. The ex-dividend date is Wednesday, January 15th. This represents a $6.06 dividend on an annualized basis and a yield of 4.01%. Mid-America Apartment Communities’s dividend payout ratio is presently 136.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MAA. Barclays cut their target price on Mid-America Apartment Communities from $166.00 to $152.00 and set an “equal weight” rating on the stock in a research note on Friday, January 24th. Scotiabank reduced 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 research note on Thursday, November 14th. Royal Bank of Canada lowered their target price 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 note on Friday, November 1st. JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of Mid-America Apartment Communities in a report on Friday, January 10th. Finally, Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective for the company in a report on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and an average target price of $166.00.

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.