Allianz Asset Management GmbH cut its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 10.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 317,117 shares of the real estate investment trust’s stock after selling 37,956 shares during the period. Allianz Asset Management GmbH owned approximately 0.28% of Mid-America Apartment Communities worth $31,768,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of MAA. Cbre Clarion Securities LLC raised its stake in Mid-America Apartment Communities by 490.5% during the 2nd quarter. Cbre Clarion Securities LLC now owns 1,670,247 shares of the real estate investment trust’s stock valued at $168,144,000 after acquiring an additional 1,387,389 shares during the last quarter. Centersquare Investment Management LLC purchased a new position in shares of Mid-America Apartment Communities during the 2nd quarter worth approximately $74,941,000. AMP Capital Investors Ltd raised its stake in shares of Mid-America Apartment Communities by 494.9% during the 2nd quarter. AMP Capital Investors Ltd now owns 619,040 shares of the real estate investment trust’s stock worth $62,320,000 after buying an additional 514,981 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Mid-America Apartment Communities by 1,097.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 385,973 shares of the real estate investment trust’s stock worth $38,935,000 after buying an additional 353,733 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Mid-America Apartment Communities by 3,976.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 230,548 shares of the real estate investment trust’s stock worth $23,901,000 after buying an additional 224,892 shares in the last quarter. 92.61% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on MAA shares. Capital One Financial started coverage on Mid-America Apartment Communities in a research note on Monday, October 22nd. They set an “equal weight” rating and a $101.50 target price for the company. Barclays reissued a “buy” rating and set a $110.00 target price on shares of Mid-America Apartment Communities in a research note on Sunday, October 14th. Robert W. Baird reissued a “buy” rating and set a $105.00 target price on shares of Mid-America Apartment Communities in a research note on Thursday, August 16th. SunTrust Banks reissued a “buy” rating and set a $105.00 target price on shares of Mid-America Apartment Communities in a research note on Thursday, August 9th. Finally, Citigroup set a $105.00 target price on Mid-America Apartment Communities and gave the stock a “hold” rating in a research note on Monday, November 5th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $102.59.
MAA opened at $103.56 on Monday. The company has a market capitalization of $11.79 billion, a P/E ratio of 17.43, a PEG ratio of 2.45 and a beta of 0.25. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.17 and a current ratio of 0.17. Mid-America Apartment Communities Inc has a 1-year low of $85.16 and a 1-year high of $104.98.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 4.36% and a net margin of 18.20%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 EPS. As a group, equities research analysts forecast that Mid-America Apartment Communities Inc will post 6.04 earnings per share for the current fiscal year.
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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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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