Leavell Investment Management Inc. lessened its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,255 shares of the real estate investment trust’s stock after selling 1,800 shares during the period. Mid-America Apartment Communities makes up about 1.9% of Leavell Investment Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Leavell Investment Management Inc. owned about 0.13% of Mid-America Apartment Communities worth $15,418,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of MAA. Bronfman E.L. Rothschild L.P. increased its stake in Mid-America Apartment Communities by 32.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 382 shares in the last quarter. Commerce Bank bought a new stake in Mid-America Apartment Communities in the second quarter valued at approximately $223,000. BB&T Securities LLC bought a new stake in Mid-America Apartment Communities in the second quarter valued at approximately $237,000. MAI Capital Management bought a new stake in Mid-America Apartment Communities in the second quarter valued at approximately $247,000. Finally, RFG Advisory Group LLC bought a new stake in Mid-America Apartment Communities in the second quarter valued at approximately $282,000. 91.53% of the stock is owned by hedge funds and other institutional investors.
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Shares of Mid-America Apartment Communities, Inc. (MAA) traded up 0.83% during midday trading on Friday, hitting $100.55. 947,502 shares of the stock traded hands. The firm has a 50-day moving average price of $106.70 and a 200-day moving average price of $104.34. The stock has a market capitalization of $11.42 billion, a P/E ratio of 46.49 and a beta of 0.37. Mid-America Apartment Communities, Inc. has a 52 week low of $87.59 and a 52 week high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.61. The company had revenue of $384.60 million during the quarter, compared to analyst estimates of $386.96 million. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. Mid-America Apartment Communities’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.47 EPS. On average, equities analysts predict that Mid-America Apartment Communities, Inc. will post $1.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $3.48 annualized dividend and a dividend yield of 3.46%. Mid-America Apartment Communities’s dividend payout ratio is currently 156.76%.
In other news, Director David P. Stockert sold 6,872 shares of Mid-America Apartment Communities stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total value of $730,768.48. Following the completion of the sale, the director now owns 77,180 shares in the company, valued at approximately $8,207,321.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Reid Sanders acquired 7,000 shares of the stock in a transaction dated Friday, October 27th. The stock was bought at an average price of $100.11 per share, with a total value of $700,770.00. Following the purchase, the director now directly owns 8,209 shares in the company, valued at $821,802.99. The disclosure for this purchase can be found here. Insiders own 1.25% of the company’s stock.
Several equities research analysts have commented on the stock. Mizuho reaffirmed a “hold” rating and issued a $106.00 target price on shares of Mid-America Apartment Communities in a research note on Sunday, October 15th. ValuEngine raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of Mid-America Apartment Communities in a research note on Sunday, September 10th. BidaskClub raised shares of Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Finally, BTIG Research raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Friday, September 8th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mid-America Apartment Communities currently has a consensus rating of “Buy” and an average price target of $109.09.
Mid-America Apartment Communities 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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