Mid-America Apartment Communities, Inc. (MAA) Position Lowered by RKL Wealth Management LLC

RKL Wealth Management LLC reduced its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 19.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 32,427 shares of the real estate investment trust’s stock after selling 7,589 shares during the period. RKL Wealth Management LLC’s holdings in Mid-America Apartment Communities were worth $3,461,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. ING Groep NV grew its position in Mid-America Apartment Communities by 0.4% during the 2nd quarter. ING Groep NV now owns 5,816 shares of the real estate investment trust’s stock worth $613,000 after purchasing an additional 22 shares during the last quarter. BB&T Corp lifted its stake in shares of Mid-America Apartment Communities by 0.9% in the second quarter. BB&T Corp now owns 5,314 shares of the real estate investment trust’s stock valued at $560,000 after purchasing an additional 47 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Mid-America Apartment Communities by 0.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 7,677 shares of the real estate investment trust’s stock valued at $809,000 after purchasing an additional 58 shares during the period. Advisor Partners LLC lifted its stake in shares of Mid-America Apartment Communities by 1.7% in the second quarter. Advisor Partners LLC now owns 4,096 shares of the real estate investment trust’s stock valued at $432,000 after purchasing an additional 68 shares during the period. Finally, KCG Holdings Inc. lifted its stake in shares of Mid-America Apartment Communities by 2.3% in the first quarter. KCG Holdings Inc. now owns 3,215 shares of the real estate investment trust’s stock valued at $327,000 after purchasing an additional 72 shares during the period. 92.34% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities, Inc. (NYSE MAA) traded down $1.74 during trading on Thursday, reaching $102.20. 973,500 shares of the company were exchanged, compared to its average volume of 676,352. Mid-America Apartment Communities, Inc. has a 52-week low of $87.59 and a 52-week high of $110.95. The stock has a market capitalization of $11,810.39, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 2.51 and a beta of 0.35.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.61. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The firm had revenue of $384.60 million during the quarter, compared to the consensus estimate of $386.96 million. During the same period in the previous year, the firm earned $1.47 earnings per share. Mid-America Apartment Communities’s revenue was up 38.9% compared to the same quarter last year. sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 5.91 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th were given a dividend of $0.87 per share. The ex-dividend date was Thursday, October 12th. This represents a $3.48 dividend on an annualized basis and a yield of 3.41%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 156.76%.

Several brokerages recently commented on MAA. Stifel Nicolaus began coverage on shares of Mid-America Apartment Communities in a research note on Thursday, August 31st. They issued a “hold” rating and a $113.00 price objective for the company. BidaskClub upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Royal Bank Of Canada reiterated a “buy” rating and issued a $112.00 price objective on shares of Mid-America Apartment Communities in a research note on Wednesday, August 9th. BMO Capital Markets reiterated a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, July 27th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 price objective on shares of Mid-America Apartment Communities in a research note on Sunday, September 10th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $110.33.

In other Mid-America Apartment Communities news, Director David P. Stockert sold 6,872 shares of Mid-America Apartment Communities stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total transaction of $730,768.48. Following the transaction, the director now directly owns 77,180 shares of the company’s stock, valued at $8,207,321.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William Reid Sanders purchased 7,000 shares of Mid-America Apartment Communities stock in a transaction on Friday, October 27th. The shares were acquired at an average cost of $100.11 per share, for a total transaction of $700,770.00. Following the completion of the transaction, the director now owns 8,209 shares of the company’s stock, valued at $821,802.99. The disclosure for this purchase can be found here. Insiders own 1.25% of the company’s stock.

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About Mid-America Apartment Communities

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.

Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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