Sterling Capital Management LLC trimmed its holdings in Mid-America Apartment Communities Inc (NYSE:MAA) by 4.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,300 shares of the real estate investment trust’s stock after selling 1,500 shares during the period. Sterling Capital Management LLC’s holdings in Mid-America Apartment Communities were worth $3,436,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of MAA. Piedmont Investment Advisors LLC bought a new stake in Mid-America Apartment Communities in the second quarter worth approximately $134,000. First Hawaiian Bank bought a new stake in Mid-America Apartment Communities in the third quarter worth approximately $171,000. Bridgeworth LLC bought a new stake in Mid-America Apartment Communities in the second quarter worth approximately $180,000. Chickasaw Capital Management LLC bought a new stake in Mid-America Apartment Communities in the second quarter worth approximately $201,000. Finally, BB&T Securities LLC bought a new stake in Mid-America Apartment Communities in the second quarter worth approximately $201,000. 93.15% of the stock is owned by institutional investors.
Several analysts have commented on MAA shares. Stifel Nicolaus downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Thursday, August 2nd. Barclays reissued a “buy” rating and issued a $110.00 target price on shares of Mid-America Apartment Communities in a research report on Sunday, October 14th. Capital One Financial assumed 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 target price for the company. Robert W. Baird restated a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, August 16th. Finally, Scotiabank assumed coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, October 16th. They issued a “sector perform” rating for the company. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $102.59.
In other news, Director Russell R. French sold 4,993 shares of the business’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $100.69, for a total value of $502,745.17. Following the completion of the sale, the director now directly owns 17,770 shares in the company, valued at $1,789,261.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.26% of the stock is currently owned by insiders.
Shares of Mid-America Apartment Communities stock opened at $97.36 on Tuesday. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.70. Mid-America Apartment Communities Inc has a 1-year low of $85.16 and a 1-year high of $106.77. The firm has a market capitalization of $10.98 billion, a PE ratio of 16.39, a PEG ratio of 2.27 and a beta of 0.25.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($1.04). Mid-America Apartment Communities had a return on equity of 4.36% and a net margin of 18.20%. The firm had revenue of $397.10 million during the quarter, compared to analyst estimates of $393.76 million. During the same quarter in the previous year, the firm posted $1.50 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts anticipate 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. Stockholders of record on Monday, October 15th were paid a $0.9225 dividend. This represents a $3.69 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Friday, October 12th. Mid-America Apartment Communities’s payout ratio is 62.12%.
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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 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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