BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in Mid-America Apartment Communities Inc (NYSE:MAA) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,181 shares of the real estate investment trust’s stock after selling 6,994 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.07% of Mid-America Apartment Communities worth $7,772,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Westwood Holdings Group Inc. raised its holdings in shares of Mid-America Apartment Communities by 19.2% in the 1st quarter. Westwood Holdings Group Inc. now owns 9,161 shares of the real estate investment trust’s stock valued at $836,000 after buying an additional 1,475 shares during the period. Allianz Asset Management GmbH increased its holdings in Mid-America Apartment Communities by 192.5% during the 1st quarter. Allianz Asset Management GmbH now owns 330,505 shares of the real estate investment trust’s stock worth $30,156,000 after purchasing an additional 217,525 shares during the period. Echo Street Capital Management LLC purchased a new stake in Mid-America Apartment Communities during the 1st quarter worth about $9,552,000. Nomura Asset Management Co. Ltd. increased its holdings in Mid-America Apartment Communities by 6.8% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 85,724 shares of the real estate investment trust’s stock worth $7,821,000 after purchasing an additional 5,470 shares during the period. Finally, Investec Asset Management PTY Ltd purchased a new stake in Mid-America Apartment Communities during the 1st quarter worth about $492,000. Hedge funds and other institutional investors own 91.56% of the company’s stock.
In other news, insider H Eric Bolton, Jr. bought 1,130 shares of the firm’s stock in a transaction that occurred on Friday, May 18th. The stock was purchased at an average cost of $88.39 per share, with a total value of $99,880.70. Following the transaction, the insider now directly owns 220,643 shares in the company, valued at $19,502,634.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William Reid Sanders bought 2,800 shares of the firm’s stock in a transaction that occurred on Monday, May 21st. The stock was purchased at an average cost of $87.92 per share, with a total value of $246,176.00. Following the completion of the transaction, the director now owns 15,109 shares in the company, valued at $1,328,383.28. The disclosure for this purchase can be found here. 1.26% of the stock is owned by corporate insiders.
Mid-America Apartment Communities opened at $96.50 on Friday, MarketBeat Ratings reports. The stock has a market cap of $11.02 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.31 and a beta of 0.35. The company has a quick ratio of 0.21, a current ratio of 0.21 and a debt-to-equity ratio of 0.69. Mid-America Apartment Communities Inc has a 1 year low of $85.16 and a 1 year high of $110.79.
Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($1.04). The firm had revenue of $386.01 million during the quarter, compared to analyst estimates of $384.42 million. Mid-America Apartment Communities had a net margin of 21.72% and a return on equity of 5.10%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $1.46 earnings per share. research analysts forecast that Mid-America Apartment Communities Inc will post 5.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, July 13th will be given a $0.9225 dividend. The ex-dividend date is Thursday, July 12th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 3.82%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 62.12%.
MAA has been the topic of several recent research reports. ValuEngine upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Barclays restated a “buy” rating and set a $112.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, April 17th. BMO Capital Markets set a $97.00 price target on Mid-America Apartment Communities and gave the stock a “hold” rating in a report on Friday, March 2nd. Robert W. Baird set a $100.00 price target on Mid-America Apartment Communities and gave the stock a “buy” rating in a report on Friday, March 2nd. Finally, Zacks Investment Research upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Monday, February 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Mid-America Apartment Communities has an average rating of “Hold” and an average price target of $104.62.
Mid-America Apartment Communities 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 March 31, 2018, MAA had ownership interest in 100,490 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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