Daiwa Securities Group Inc. trimmed its holdings in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 13.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,290 shares of the real estate investment trust’s stock after selling 3,310 shares during the period. Daiwa Securities Group Inc.’s holdings in Mid-America Apartment Communities were worth $2,133,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of MAA. Allianz Asset Management GmbH increased its stake in shares of 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 in the last quarter. DnB Asset Management AS grew its stake in Mid-America Apartment Communities by 7.6% in the 2nd quarter. DnB Asset Management AS now owns 12,800 shares of the real estate investment trust’s stock worth $1,289,000 after acquiring an additional 900 shares during the period. IFM Investors Pty Ltd grew its stake in Mid-America Apartment Communities by 70.1% in the 2nd quarter. IFM Investors Pty Ltd now owns 3,911 shares of the real estate investment trust’s stock worth $394,000 after acquiring an additional 1,612 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Mid-America Apartment Communities by 11.3% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,197 shares of the real estate investment trust’s stock worth $3,543,000 after acquiring an additional 3,577 shares during the period. Finally, Manning & Napier Group LLC grew its stake in Mid-America Apartment Communities by 11.6% in the 2nd quarter. Manning & Napier Group LLC now owns 92,590 shares of the real estate investment trust’s stock worth $9,320,000 after acquiring an additional 9,660 shares during the period. 93.15% of the stock is owned by institutional investors and hedge funds.
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 transaction of $502,745.17. Following the completion of the sale, the director now directly owns 17,770 shares of the company’s stock, valued at approximately $1,789,261.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.26% of the stock is owned by insiders.
Several analysts have commented on the stock. Citigroup set a $105.00 target price on shares of Mid-America Apartment Communities and gave the stock a “hold” rating in a research note on Monday, November 5th. Capital One Financial reaffirmed an “equal weight” rating on shares of Mid-America Apartment Communities in a research note on Friday, October 19th. 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. Barclays reaffirmed a “buy” rating and issued a $110.00 target price on shares of Mid-America Apartment Communities in a research note on Sunday, October 14th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $105.00 target price on shares of Mid-America Apartment Communities in a research note on Thursday, August 16th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $102.59.
Shares of NYSE MAA opened at $100.52 on Friday. Mid-America Apartment Communities Inc has a 52-week low of $85.16 and a 52-week high of $106.77. The firm has a market cap of $11.14 billion, a PE ratio of 16.92, a P/E/G ratio of 2.31 and a beta of 0.25. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.17 and a quick ratio of 0.17.
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 Thomson Reuters’ consensus estimate of $1.50 by ($1.04). Mid-America Apartment Communities had a net margin of 18.20% and a return on equity of 4.36%. The company had revenue of $397.10 million for the quarter, compared to analysts’ expectations of $393.76 million. During the same period in the prior year, the firm earned $1.50 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Mid-America Apartment Communities Inc will post 6.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th were paid a dividend of $0.9225 per share. The ex-dividend date was Friday, October 12th. This represents a $3.69 annualized dividend and a dividend yield of 3.67%. Mid-America Apartment Communities’s dividend payout ratio is presently 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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