Oppenheimer & Co. Inc. reduced its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.3% during the first quarter, Holdings Channel reports. The firm owned 42,380 shares of the real estate investment trust’s stock after selling 1,897 shares during the period. Oppenheimer & Co. Inc.’s holdings in Mid-America Apartment Communities were worth $4,312,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of MAA. Independent Advisor Alliance bought a new position in Mid-America Apartment Communities during the fourth quarter valued at approximately $162,000. Creative Planning increased its position in Mid-America Apartment Communities by 50.7% in the first quarter. Creative Planning now owns 1,715 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 577 shares during the period. Chickasaw Capital Management LLC bought a new position in Mid-America Apartment Communities during the first quarter valued at approximately $203,000. Commerzbank Aktiengesellschaft FI bought a new position in Mid-America Apartment Communities during the first quarter valued at approximately $217,000. Finally, Rehmann Capital Advisory Group bought a new position in Mid-America Apartment Communities during the first quarter valued at approximately $227,000. 93.10% of the stock is currently owned by hedge funds and other institutional investors.
Mid-America Apartment Communities, Inc. (NYSE MAA) traded up 0.25% during trading on Monday, reaching $110.32. The company’s stock had a trading volume of 357,030 shares. The firm has a market capitalization of $12.53 billion, a P/E ratio of 46.75 and a beta of 0.35. The stock has a 50-day moving average of $102.16 and a 200 day moving average of $99.23. Mid-America Apartment Communities, Inc. has a one year low of $85.04 and a one year high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.02. The company had revenue of $375.91 million during the quarter, compared to analyst estimates of $358.74 million. Mid-America Apartment Communities had a return on equity of 5.02% and a net margin of 17.03%. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.50 earnings per share. On average, equities research analysts predict that Mid-America Apartment Communities, Inc. will post $1.52 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be given a $0.87 dividend. The ex-dividend date of this dividend is Wednesday, July 12th. This represents a $3.48 annualized dividend and a yield of 3.15%. Mid-America Apartment Communities’s payout ratio is 139.76%.
Several analysts recently issued reports on MAA shares. BidaskClub raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Jefferies Group LLC lifted their target price on Mid-America Apartment Communities from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 30th. Barclays PLC started coverage on Mid-America Apartment Communities in a research note on Monday, March 27th. They set an “overweight” rating and a $116.00 target price on the stock. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Mid-America Apartment Communities in a research note on Thursday, April 27th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $108.00.
In other news, Director Gary Shorb purchased 500 shares of the stock in a transaction dated Tuesday, May 9th. The stock was acquired at an average cost of $98.90 per share, for a total transaction of $49,450.00. Following the completion of the transaction, the director now directly owns 4,250 shares in the company, valued at approximately $420,325. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.66% of the company’s stock.
Mid-America Apartment Communities Company 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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