Ameriprise Financial Inc. reduced its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 13.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 861,902 shares of the real estate investment trust’s stock after selling 137,050 shares during the period. Ameriprise Financial Inc. owned approximately 0.76% of Mid-America Apartment Communities worth $87,834,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of the company. Kemper Corp Master Retirement Trust bought a new stake in shares of Mid-America Apartment Communities during the third quarter worth $172,000. Panagora Asset Management Inc. raised its position in shares of Mid-America Apartment Communities by 45.3% in the third quarter. Panagora Asset Management Inc. now owns 589,617 shares of the real estate investment trust’s stock valued at $55,418,000 after buying an additional 183,702 shares in the last quarter. Advantus Capital Management Inc raised its position in shares of Mid-America Apartment Communities by 173.7% in the third quarter. Advantus Capital Management Inc now owns 179,145 shares of the real estate investment trust’s stock worth $16,838,000 after buying an additional 113,700 shares in the last quarter. OMERS ADMINISTRATION Corp raised its position in shares of Mid-America Apartment Communities by 774.1% in the third quarter. OMERS ADMINISTRATION Corp now owns 97,900 shares of the real estate investment trust’s stock worth $9,202,000 after buying an additional 86,700 shares in the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Mid-America Apartment Communities by 3.7% in the third quarter. HighTower Advisors LLC now owns 13,668 shares of the real estate investment trust’s stock worth $1,283,000 after buying an additional 491 shares in the last quarter. Institutional investors and hedge funds own 93.05% of the company’s stock.
Shares of Mid-America Apartment Communities, Inc. (MAA) traded up 0.04% during trading on Friday, reaching $110.04. The company had a trading volume of 901,963 shares. The firm has a market capitalization of $12.50 billion, a P/E ratio of 46.63 and a beta of 0.35. The firm’s 50 day moving average price is $102.16 and its 200 day moving average price is $99.23. Mid-America Apartment Communities, Inc. has a 12 month low of $85.04 and a 12 month high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, April 26th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. Mid-America Apartment Communities had a return on equity of 5.02% and a net margin of 17.03%. The firm had revenue of $375.91 million for the quarter, compared to analyst estimates of $358.74 million. During the same quarter in the prior year, the company earned $1.50 EPS. Mid-America Apartment Communities’s revenue was up 39.7% on a year-over-year basis. Equities analysts predict that Mid-America Apartment Communities, Inc. will post $1.52 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, July 12th. Mid-America Apartment Communities’s payout ratio is currently 139.76%.
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Several analysts recently commented on the company. BidaskClub raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. BMO Capital Markets reaffirmed a “buy” rating and set a $105.00 target price on shares of Mid-America Apartment Communities in a report on Friday, February 17th. Jefferies Group LLC raised their target price on Mid-America Apartment Communities from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 30th. Barclays PLC began coverage on Mid-America Apartment Communities in a research report on Monday, March 27th. They set an “overweight” rating and a $116.00 price target on the stock. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Mid-America Apartment Communities in a research report on Thursday, April 27th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $108.00.
In related news, Director Gary Shorb bought 500 shares of Mid-America Apartment Communities stock in a transaction that occurred on Tuesday, May 9th. The shares were purchased at an average price of $98.90 per share, with a total value of $49,450.00. Following the purchase, the director now owns 4,250 shares in the company, valued at $420,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.66% of the stock is currently owned by corporate insiders.
Mid-America Apartment Communities Company 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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