Brinker Capital Inc. Sells 2,470 Shares of Mid-America Apartment Communities Inc (NYSE:MAA)

Brinker Capital Inc. decreased its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 11.0% during the third quarter, HoldingsChannel reports. The firm owned 19,953 shares of the real estate investment trust’s stock after selling 2,470 shares during the quarter. Brinker Capital Inc.’s holdings in Mid-America Apartment Communities were worth $2,594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MAA. Vanguard Group Inc. boosted its stake in Mid-America Apartment Communities by 1.9% during the second quarter. Vanguard Group Inc. now owns 18,881,481 shares of the real estate investment trust’s stock worth $2,223,484,000 after acquiring an additional 346,064 shares in the last quarter. Brookfield Asset Management Inc. boosted its stake in Mid-America Apartment Communities by 7.6% during the second quarter. Brookfield Asset Management Inc. now owns 2,346,297 shares of the real estate investment trust’s stock worth $276,300,000 after acquiring an additional 165,702 shares in the last quarter. Northern Trust Corp boosted its stake in Mid-America Apartment Communities by 5.5% during the second quarter. Northern Trust Corp now owns 1,713,518 shares of the real estate investment trust’s stock worth $201,785,000 after acquiring an additional 89,273 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Mid-America Apartment Communities by 1.9% during the second quarter. Wells Fargo & Company MN now owns 1,505,728 shares of the real estate investment trust’s stock worth $177,315,000 after acquiring an additional 28,752 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Mid-America Apartment Communities by 3.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,394,822 shares of the real estate investment trust’s stock worth $164,255,000 after acquiring an additional 44,631 shares in the last quarter. 93.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Mid-America Apartment Communities stock opened at $136.38 on Wednesday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.13 and a current ratio of 0.13. The stock has a market capitalization of $15.41 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 5.50 and a beta of 0.33. Mid-America Apartment Communities Inc has a 52-week low of $91.21 and a 52-week high of $137.49. The company has a 50-day simple moving average of $130.63 and a two-hundred day simple moving average of $120.24.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a $0.96 dividend. The ex-dividend date is Friday, October 11th. This represents a $3.84 annualized dividend and a yield of 2.82%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 63.58%.

MAA has been the topic of several research reports. Scotiabank lowered shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and dropped their price objective for the stock from $114.00 to $107.00 in a research note on Tuesday, July 9th. Barclays set a $141.00 price objective on shares of Mid-America Apartment Communities and gave the stock a “buy” rating in a research note on Friday, October 11th. ValuEngine lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Capital One Financial reissued an “equal weight” rating on shares of Mid-America Apartment Communities in a research note on Monday, September 16th. Finally, SunTrust Banks boosted their price objective on shares of Mid-America Apartment Communities to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Mid-America Apartment Communities has an average rating of “Hold” and an average target price of $119.82.

In other Mid-America Apartment Communities news, Director David P. Stockert sold 2,047 shares of Mid-America Apartment Communities stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $120.84, for a total value of $247,359.48. Following the completion of the transaction, the director now directly owns 65,240 shares of the company’s stock, valued at $7,883,601.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

About Mid-America Apartment Communities

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.

Read More: What is channel trading?

Want to see what other hedge funds are holding MAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid-America Apartment Communities Inc (NYSE:MAA).

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

Receive News & Ratings for Mid-America Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit