State Treasurer State of Michigan Has $3.69 Million Holdings in Mid-America Apartment Communities, Inc. (MAA)

State Treasurer State of Michigan cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,501 shares of the real estate investment trust’s stock after selling 2,800 shares during the quarter. State Treasurer State of Michigan’s holdings in Mid-America Apartment Communities were worth $3,687,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MAA. Bronfman E.L. Rothschild L.P. lifted 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 acquiring an additional 382 shares during the last quarter. Commerce Bank acquired a new stake in Mid-America Apartment Communities in the second quarter valued at approximately $223,000. BB&T Securities LLC acquired a new stake in Mid-America Apartment Communities in the second quarter valued at approximately $237,000. MAI Capital Management acquired a new stake in Mid-America Apartment Communities in the second quarter valued at approximately $247,000. Finally, RFG Advisory Group LLC acquired a new stake in Mid-America Apartment Communities in the second quarter valued at approximately $282,000. Hedge funds and other institutional investors own 90.99% of the company’s stock.

Shares of Mid-America Apartment Communities, Inc. (NYSE MAA) opened at 100.55 on Monday. Mid-America Apartment Communities, Inc. has a 52 week low of $87.59 and a 52 week high of $110.95. The firm has a market capitalization of $11.42 billion, a PE ratio of 46.49 and a beta of 0.37. The stock has a 50 day moving average of $106.70 and a 200-day moving average of $104.34.

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 for the quarter, beating the consensus estimate 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 business had revenue of $384.60 million during the quarter, compared to analysts’ expectations of $386.96 million. During the same period last year, the business earned $1.47 earnings per share. The firm’s revenue was up 38.9% on a year-over-year basis. Equities analysts anticipate that Mid-America Apartment Communities, Inc. will post $1.66 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors 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 presently 156.76%.

A number of analysts have issued reports on MAA shares. BidaskClub cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. ValuEngine cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Stifel Nicolaus reduced their price objective on shares of Mid-America Apartment Communities from $113.00 to $100.00 and set a “hold” rating for the company in a research note on Friday. JMP Securities cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 19th. Finally, Mizuho restated a “hold” rating and issued a $106.00 price objective on shares of Mid-America Apartment Communities in a research note on Sunday, October 15th. Six research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $109.09.

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In other Mid-America Apartment Communities news, Director William Reid Sanders purchased 7,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was acquired at an average price of $100.11 per share, with a total value of $700,770.00. Following the acquisition, the director now directly owns 8,209 shares of the company’s stock, valued at approximately $821,802.99. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David P. Stockert sold 6,872 shares of the firm’s 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 sale, the director now directly owns 77,180 shares of the company’s stock, valued at approximately $8,207,321.20. The disclosure for this sale can be found here. 1.25% of the stock is currently owned by company insiders.

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.

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

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