Strs Ohio boosted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 7.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,495 shares of the real estate investment trust’s stock after acquiring an additional 16,246 shares during the period. Strs Ohio owned 0.20% of Mid-America Apartment Communities worth $24,742,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Brookfield Asset Management Inc. acquired a new position in Mid-America Apartment Communities during the 2nd quarter worth about $158,747,000. Alliancebernstein L.P. lifted its stake in shares of Mid-America Apartment Communities by 90.7% in the 2nd quarter. Alliancebernstein L.P. now owns 2,406,670 shares of the real estate investment trust’s stock valued at $253,615,000 after purchasing an additional 1,144,768 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Mid-America Apartment Communities by 4,202.0% in the 2nd quarter. Janus Henderson Group PLC now owns 565,631 shares of the real estate investment trust’s stock valued at $59,607,000 after purchasing an additional 552,483 shares during the period. Renaissance Technologies LLC increased its position in Mid-America Apartment Communities by 31.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,884,990 shares of the real estate investment trust’s stock valued at $198,640,000 after buying an additional 451,849 shares in the last quarter. Finally, Standard Life Investments LTD increased its position in Mid-America Apartment Communities by 202.1% in the 2nd quarter. Standard Life Investments LTD now owns 557,660 shares of the real estate investment trust’s stock valued at $58,775,000 after buying an additional 373,083 shares in the last quarter. Institutional investors own 91.27% of the company’s stock.
Mid-America Apartment Communities, Inc. (NYSE MAA) traded down $0.14 during trading on Friday, hitting $105.47. 377,500 shares of the stock were exchanged, compared to its average volume of 673,107. The company has a market cap of $12,000.15, a P/E ratio of 17.78, a PEG ratio of 2.55 and a beta of 0.35. Mid-America Apartment Communities, Inc. has a 12-month low of $87.59 and a 12-month high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.61. The company had revenue of $384.60 million during the quarter, compared to analysts’ expectations of $386.96 million. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. Mid-America Apartment Communities’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 earnings per share. analysts forecast that Mid-America Apartment Communities, Inc. will post 5.91 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 13th were given a dividend of $0.87 per share. The ex-dividend date was Thursday, October 12th. This represents a $3.48 annualized dividend and a yield of 3.30%. Mid-America Apartment Communities’s dividend payout ratio is presently 156.76%.
In related news, Director William Reid Sanders acquired 7,000 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were acquired at an average cost of $100.11 per share, with a total value of $700,770.00. Following the completion of the acquisition, the director now directly owns 8,209 shares in the company, valued at approximately $821,802.99. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director David P. Stockert sold 6,872 shares of the stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total transaction of $730,768.48. Following the transaction, the director now directly owns 77,180 shares in the company, valued at $8,207,321.20. The disclosure for this sale can be found here. 1.25% of the stock is currently owned by company insiders.
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A number of analysts have commented on MAA shares. Stifel Nicolaus decreased their price objective on Mid-America Apartment Communities from $113.00 to $100.00 and set a “hold” rating for the company in a report on Friday, October 27th. Royal Bank of Canada reissued a “buy” rating and set a $110.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, November 3rd. ValuEngine downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. JMP Securities downgraded Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 19th. Finally, Mizuho reiterated a “hold” rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a research note on Monday, November 6th. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $110.08.
About Mid-America Apartment Communities
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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