Eagle Asset Management Inc. bought a new position in shares of Mid-America Apartment Communities Inc (NYSE:MAA) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 52,726 shares of the real estate investment trust’s stock, valued at approximately $6,854,000.
A number of other institutional investors and hedge funds also recently modified their holdings of MAA. Amundi Pioneer Asset Management Inc. boosted its holdings in Mid-America Apartment Communities by 18.3% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 140,458 shares of the real estate investment trust’s stock worth $15,357,000 after buying an additional 21,688 shares during the last quarter. South Texas Money Management Ltd. bought a new position in Mid-America Apartment Communities during the second quarter worth about $221,000. Farmers Trust Co. bought a new position in Mid-America Apartment Communities during the second quarter worth about $1,881,000. Hexavest Inc. bought a new position in Mid-America Apartment Communities during the second quarter worth about $24,133,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in Mid-America Apartment Communities during the second quarter worth about $477,000. Hedge funds and other institutional investors own 93.34% of the company’s stock.
In related news, Director David P. Stockert sold 5,000 shares of Mid-America Apartment Communities stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $136.46, for a total value of $682,300.00. Following the sale, the director now owns 68,778 shares of the company’s stock, valued at approximately $9,385,445.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by company insiders.
A number of equities analysts have issued reports on MAA shares. Citigroup raised their target price on Mid-America Apartment Communities from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. KeyCorp lifted their price objective on Mid-America Apartment Communities from $131.00 to $138.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Barclays set a $141.00 price objective on Mid-America Apartment Communities and gave the company a “buy” rating in a report on Friday, October 11th. Capital One Financial upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a report on Monday, November 4th. Finally, Mizuho lifted their price objective on Mid-America Apartment Communities from $132.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $126.75.
NYSE:MAA opened at $132.90 on Tuesday. Mid-America Apartment Communities Inc has a fifty-two week low of $91.21 and a fifty-two week high of $140.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market capitalization of $15.28 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 5.31 and a beta of 0.33. The business’s 50-day simple moving average is $133.68 and its 200-day simple moving average is $122.87.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.87). Mid-America Apartment Communities had a net margin of 16.25% and a return on equity of 3.84%. The business had revenue of $415.63 million for the quarter, compared to the consensus estimate of $411.16 million. During the same quarter last year, the firm earned $1.50 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, research analysts expect that Mid-America Apartment Communities Inc will post 6.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Friday, October 11th. Mid-America Apartment Communities’s dividend payout ratio is presently 63.58%.
Mid-America Apartment Communities Profile
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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