American International Group Inc. boosted its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 42,898 shares of the real estate investment trust’s stock after buying an additional 2,632 shares during the period. American International Group Inc.’s holdings in Mid-America Apartment Communities were worth $4,298,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. RVB Capital Management LLC purchased a new stake in Mid-America Apartment Communities during the 2nd quarter valued at $4,027,000. Centersquare Investment Management LLC purchased a new stake in Mid-America Apartment Communities during the 2nd quarter valued at $74,941,000. AMP Capital Investors Ltd raised its holdings in 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 valued at $62,320,000 after buying an additional 514,981 shares during the period. Pettee Investors Inc. raised its holdings in Mid-America Apartment Communities by 12.9% during the 2nd quarter. Pettee Investors Inc. now owns 8,352 shares of the real estate investment trust’s stock valued at $841,000 after buying an additional 955 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Mid-America Apartment Communities during the 2nd quarter valued at $2,995,000. Institutional investors own 92.73% of the company’s stock.
Shares of Mid-America Apartment Communities stock opened at $101.84 on Friday. Mid-America Apartment Communities Inc has a 52 week low of $85.16 and a 52 week high of $104.98. 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 $11.50 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 2.39 and a beta of 0.31.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $393.76 million. During the same period in the previous year, the company posted $1.50 EPS. Mid-America Apartment Communities’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Mid-America Apartment Communities Inc will post 6.05 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Tuesday, January 15th will be given a dividend of $0.96 per share. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, January 14th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.77%. Mid-America Apartment Communities’s dividend payout ratio is presently 62.12%.
Several equities analysts have commented on MAA shares. Scotiabank started coverage on Mid-America Apartment Communities in a research report on Tuesday, October 16th. They issued a “sector perform” rating on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, August 16th. Capital One Financial reaffirmed an “equal weight” rating on shares of Mid-America Apartment Communities in a research report on Friday, October 19th. Barclays reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a research report on Sunday, October 14th. Finally, Citigroup set a $105.00 price objective on Mid-America Apartment Communities and gave the company a “hold” rating in a research report on Monday, November 5th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Mid-America Apartment Communities has a consensus rating of “Hold” and an average price target of $102.59.
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.
Further Reading: Risk Tolerance
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