Gateway Investment Advisers LLC cut its stake in Mid-America Apartment Communities Inc (NYSE:MAA) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,946 shares of the real estate investment trust’s stock after selling 229 shares during the period. Gateway Investment Advisers LLC’s holdings in Mid-America Apartment Communities were worth $582,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in MAA. Zions Bancorporation N.A. lifted its holdings in shares of Mid-America Apartment Communities by 733.0% in the 1st quarter. Zions Bancorporation N.A. now owns 783 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 689 shares during the last quarter. Welch Group LLC purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at about $143,000. Starr International Co. Inc. purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at about $148,000. Piedmont Investment Advisors Inc. purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at about $202,000. Finally, Conning Inc. purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at about $203,000. Hedge funds and other institutional investors own 92.65% of the company’s stock.
Several research firms have recently weighed in on MAA. SunTrust Banks boosted their target price on Mid-America Apartment Communities to $120.00 and gave the company a “positive” rating in a report on Wednesday, June 19th. They noted that the move was a valuation call. KeyCorp boosted their target price on Terreno Realty from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Royal Bank of Canada set a €475.00 ($552.33) target price on Rational and gave the company a “sell” rating in a report on Monday, May 20th. Zacks Investment Research downgraded Hanger from a “hold” rating to a “sell” rating in a report on Tuesday, May 28th. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a report on Monday, May 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $112.18.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.95). Mid-America Apartment Communities had a net margin of 14.86% and a return on equity of 3.68%. The company had revenue of $401.17 million during the quarter, compared to analyst estimates of $400.91 million. During the same quarter last year, the firm earned $1.36 EPS. The business’s revenue was up 3.9% on a year-over-year basis. As a group, research analysts forecast that Mid-America Apartment Communities Inc will post 6.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend is Friday, July 12th. Mid-America Apartment Communities’s payout ratio is 63.58%.
In other Mid-America Apartment Communities news, Director Claude B. Nielsen sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $109.83, for a total transaction of $713,895.00. Following the transaction, the director now owns 12,117 shares in the company, valued at approximately $1,330,810.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.
Mid-America Apartment Communities Company 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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