Cidel Asset Management Inc. Has $13.98 Million Stake in Mid-America Apartment Communities, Inc. (MAA)

Cidel Asset Management Inc. raised its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,701 shares of the real estate investment trust’s stock after buying an additional 2,750 shares during the period. Cidel Asset Management Inc. owned approximately 0.12% of Mid-America Apartment Communities worth $13,984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MAA. State Street Corp raised its position in shares of Mid-America Apartment Communities by 2.0% in the first quarter. State Street Corp now owns 6,727,050 shares of the real estate investment trust’s stock valued at $684,403,000 after buying an additional 134,757 shares during the last quarter. Retirement Systems of Alabama raised its position in shares of Mid-America Apartment Communities by 295.1% in the second quarter. Retirement Systems of Alabama now owns 216,868 shares of the real estate investment trust’s stock valued at $22,854,000 after buying an additional 161,982 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Mid-America Apartment Communities by 88.8% in the fourth quarter. Macquarie Group Ltd. now owns 59,012 shares of the real estate investment trust’s stock valued at $5,778,000 after buying an additional 27,752 shares during the last quarter. Pictet Asset Management Ltd. raised its position in shares of Mid-America Apartment Communities by 7.3% in the first quarter. Pictet Asset Management Ltd. now owns 63,101 shares of the real estate investment trust’s stock valued at $6,420,000 after buying an additional 4,300 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Mid-America Apartment Communities by 5.6% in the first quarter. Nomura Asset Management Co. Ltd. now owns 91,366 shares of the real estate investment trust’s stock valued at $9,296,000 after buying an additional 4,824 shares during the last quarter. Institutional investors own 92.35% of the company’s stock.

Mid-America Apartment Communities, Inc. (NYSE:MAA) opened at 106.52 on Friday. The stock has a market capitalization of $12.10 billion, a price-to-earnings ratio of 49.25 and a beta of 0.35. Mid-America Apartment Communities, Inc. has a 52-week low of $85.04 and a 52-week high of $110.95. The stock’s 50 day moving average price is $103.19 and its 200 day moving average price is $101.99.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.03. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The company had revenue of $382.80 million during the quarter, compared to analysts’ expectations of $382.17 million. During the same period in the previous year, the company earned $1.54 EPS. The business’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, analysts forecast that Mid-America Apartment Communities, Inc. will post $1.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were paid a dividend of $0.87 per share. The ex-dividend date was Wednesday, July 12th. This represents a $3.48 annualized dividend and a dividend yield of 3.27%. Mid-America Apartment Communities’s dividend payout ratio is presently 148.72%.

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MAA has been the subject of several analyst reports. BidaskClub lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of Mid-America Apartment Communities in a research report on Monday, July 10th. 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 report 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 report on Thursday, July 27th. Finally, Zacks Investment Research lowered Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Mid-America Apartment Communities has a consensus rating of “Buy” and an average target price of $108.27.

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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