Nissay Asset Management Corp Japan ADV lifted its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,108 shares of the real estate investment trust’s stock after buying an additional 788 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Mid-America Apartment Communities were worth $1,714,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. RVB Capital Management LLC purchased a new stake in Mid-America Apartment Communities in the 2nd quarter valued at $4,027,000. Centersquare Investment Management LLC purchased a new stake in Mid-America Apartment Communities in the 2nd quarter valued at $74,941,000. Pettee Investors Inc. raised its position in Mid-America Apartment Communities by 12.9% in the 2nd quarter. Pettee Investors Inc. now owns 8,352 shares of the real estate investment trust’s stock valued at $841,000 after purchasing an additional 955 shares during the last quarter. AMP Capital Investors Ltd raised its position in Mid-America Apartment Communities by 494.9% in the 2nd quarter. AMP Capital Investors Ltd now owns 619,040 shares of the real estate investment trust’s stock valued at $62,320,000 after purchasing an additional 514,981 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in Mid-America Apartment Communities in the 2nd quarter valued at $2,995,000. Institutional investors and hedge funds own 93.15% of the company’s stock.
Shares of MAA opened at $96.46 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 2.27 and a beta of 0.25. Mid-America Apartment Communities Inc has a 1 year low of $85.16 and a 1 year high of $106.77.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($1.04). The firm had revenue of $397.10 million during the quarter, compared to analyst estimates of $393.76 million. Mid-America Apartment Communities had a net margin of 18.20% and a return on equity of 4.36%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.50 earnings per share. As a group, equities research analysts expect that Mid-America Apartment Communities Inc will post 6.06 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th were paid a $0.9225 dividend. The ex-dividend date of this dividend was Friday, October 12th. This represents a $3.69 annualized dividend and a yield of 3.83%. Mid-America Apartment Communities’s dividend payout ratio is currently 62.12%.
In other news, Director Russell R. French sold 4,993 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $100.69, for a total transaction of $502,745.17. Following the transaction, the director now directly owns 17,770 shares of the company’s stock, valued at approximately $1,789,261.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.
MAA has been the subject of several research reports. Barclays reiterated a “buy” rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a research report on Sunday, October 14th. Robert W. Baird reiterated a “buy” rating and issued a $105.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, August 16th. SunTrust Banks reiterated a “buy” rating and issued a $105.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, August 9th. Capital One Financial initiated coverage on shares of Mid-America Apartment Communities in a research report on Monday, October 22nd. They issued an “equal weight” rating and a $101.50 price target for the company. Finally, Stifel Nicolaus downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Thursday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $102.35.
About Mid-America Apartment Communities
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 June 30, 2018, MAA had ownership interest in 101,362 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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