Mackay Shields LLC acquired a new position in Mid-America Apartment Communities (NYSE:MAA) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 19,126 shares of the real estate investment trust’s stock, valued at approximately $1,745,000.
Several other hedge funds have also recently made changes to their positions in MAA. Two Sigma Securities LLC bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $208,000. Conning Inc. bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $211,000. Global X Management Co. LLC lifted its position in shares of Mid-America Apartment Communities by 19.2% in the 1st quarter. Global X Management Co. LLC now owns 3,900 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 629 shares during the period. Gyroscope Capital Management Group LLC bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $395,000. Finally, Virtu Financial LLC bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $467,000. Institutional investors own 91.58% of the company’s stock.
Mid-America Apartment Communities stock opened at $87.93 on Monday. The company has a market cap of $10.01 billion, a P/E ratio of 14.80, a P/E/G ratio of 2.10 and a beta of 0.34. Mid-America Apartment Communities has a one year low of $85.16 and a one year high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($1.04). The company had revenue of $386.01 million for the quarter, compared to the consensus estimate of $384.42 million. Mid-America Apartment Communities had a return on equity of 5.10% and a net margin of 21.72%. Mid-America Apartment Communities’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.46 EPS. analysts forecast that Mid-America Apartment Communities will post 6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 30th. Investors of record on Friday, April 13th were given a dividend of $0.9225 per share. The ex-dividend date of this dividend was Thursday, April 12th. This represents a $3.69 annualized dividend and a dividend yield of 4.20%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 62.12%.
In other Mid-America Apartment Communities news, Director Claude B. Nielsen sold 7,200 shares of Mid-America Apartment Communities stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $86.44, for a total value of $622,368.00. Following the completion of the transaction, the director now owns 20,417 shares in the company, valued at approximately $1,764,845.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.26% of the company’s stock.
A number of brokerages have commented on MAA. DA Davidson set a $110.00 price objective on Mid-America Apartment Communities and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Zacks Investment Research upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Monday, May 7th. Mizuho set a $91.00 price objective on Mid-America Apartment Communities and gave the stock a “hold” rating in a research report on Friday, February 9th. Cantor Fitzgerald reduced their price objective on Mid-America Apartment Communities from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. Finally, ValuEngine downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $104.62.
Mid-America Apartment Communities Company Profile
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities throughout the United States. As of December 31, 2017, MAA had ownership interest in 100,489 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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