Eaton Vance Management trimmed its holdings in Mid-America Apartment Communities Inc (NYSE:MAA) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,316 shares of the real estate investment trust’s stock after selling 1,482 shares during the period. Eaton Vance Management’s holdings in Mid-America Apartment Communities were worth $5,241,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MAA. SRS Capital Advisors Inc. acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $120,000. Piedmont Investment Advisors LLC acquired a new stake in shares of Mid-America Apartment Communities in the second quarter valued at approximately $134,000. First Hawaiian Bank acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $171,000. Bridgeworth LLC acquired a new stake in shares of Mid-America Apartment Communities in the second quarter valued at approximately $180,000. Finally, BB&T Securities LLC acquired a new stake in shares of Mid-America Apartment Communities in the second quarter valued at approximately $201,000. Institutional investors own 92.73% of the company’s stock.
MAA has been the subject of a number of analyst reports. Barclays reiterated a “buy” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, November 28th. Capital One Financial initiated 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 price target for the company. Citigroup set a $105.00 price target on shares of Mid-America Apartment Communities and gave the company a “hold” rating in a research report on Monday, November 5th. Robert W. Baird restated a “buy” rating and set a $105.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, August 16th. Finally, Scotiabank started coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, October 16th. They set a “sector perform” rating for the company. Ten 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 price target of $102.59.
Shares of MAA opened at $101.84 on Friday. Mid-America Apartment Communities Inc has a one year low of $85.16 and a one year high of $104.98. The company has a market cap of $11.50 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 2.39 and a beta of 0.31. 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 EPS for the quarter, missing the 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 firm had revenue of $397.10 million for the quarter, compared to analyst estimates of $393.76 million. During the same quarter in the prior year, the firm earned $1.50 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts anticipate that Mid-America Apartment Communities Inc will post 6.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders 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. This represents a $3.84 annualized dividend and a yield of 3.77%. The ex-dividend date is Monday, January 14th. Mid-America Apartment Communities’s payout ratio is currently 62.12%.
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.
See Also: Balanced Fund
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