Kennedy Capital Management Inc. decreased its position in Mid-America Apartment Communities Inc (NYSE:MAA) by 71.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,336 shares of the real estate investment trust’s stock after selling 63,975 shares during the period. Kennedy Capital Management Inc.’s holdings in Mid-America Apartment Communities were worth $2,548,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Group One Trading L.P. bought a new position in Mid-America Apartment Communities in the third quarter valued at about $209,000. IFM Investors Pty Ltd bought a new position in Mid-America Apartment Communities in the third quarter valued at about $217,000. Timber Hill LLC bought a new position in Mid-America Apartment Communities in the third quarter valued at about $218,000. Independent Advisor Alliance bought a new position in Mid-America Apartment Communities in the third quarter valued at about $227,000. Finally, Conning Inc. bought a new position in Mid-America Apartment Communities in the fourth quarter valued at about $211,000. Institutional investors and hedge funds own 94.79% of the company’s stock.
Several equities analysts recently issued reports on the company. Robert W. Baird set a $100.00 price target on Mid-America Apartment Communities and gave the company a “buy” rating in a report on Friday, March 2nd. Jefferies Group reiterated a “hold” rating and issued a $99.00 price target on shares of Mid-America Apartment Communities in a report on Monday, February 5th. BMO Capital Markets set a $97.00 price target on Mid-America Apartment Communities and gave the company a “hold” rating in a report on Friday, March 2nd. ValuEngine cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Barclays decreased their price target on Mid-America Apartment Communities from $113.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $104.62.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.48 by ($0.40). The business had revenue of $382.74 million for the quarter, compared to analyst estimates of $386.33 million. Mid-America Apartment Communities had a return on equity of 4.99% and a net margin of 21.42%. equities analysts forecast that Mid-America Apartment Communities Inc will post 6.03 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be given a dividend of $0.9225 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 4.12%. Mid-America Apartment Communities’s dividend payout ratio is currently 129.02%.
In other news, Director Claude B. Nielsen sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $86.44, for a total transaction of $622,368.00. Following the sale, the director now owns 20,417 shares of the company’s stock, valued at $1,764,845.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William Reid Sanders purchased 4,100 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were acquired at an average cost of $90.98 per share, for a total transaction of $373,018.00. Following the transaction, the director now owns 13,109 shares of the company’s stock, valued at $1,192,656.82. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 4,716 shares of company stock worth $426,200. 1.25% of the stock is currently owned by insiders.
Mid-America Apartment Communities Profile
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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