Keybank National Association OH trimmed its position in Mid-America Apartment Communities Inc (NYSE:MAA) by 21.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,514 shares of the real estate investment trust’s stock after selling 4,789 shares during the quarter. Keybank National Association OH’s holdings in Mid-America Apartment Communities were worth $2,277,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Mid-America Apartment Communities by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 18,881,481 shares of the real estate investment trust’s stock worth $2,223,484,000 after purchasing an additional 346,064 shares during the period. Brookfield Asset Management Inc. raised its holdings in shares of Mid-America Apartment Communities by 7.6% in the 2nd quarter. Brookfield Asset Management Inc. now owns 2,346,297 shares of the real estate investment trust’s stock worth $276,300,000 after purchasing an additional 165,702 shares during the period. Northern Trust Corp raised its holdings in shares of Mid-America Apartment Communities by 5.5% in the 2nd quarter. Northern Trust Corp now owns 1,713,518 shares of the real estate investment trust’s stock worth $201,785,000 after purchasing an additional 89,273 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Mid-America Apartment Communities by 1.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,505,728 shares of the real estate investment trust’s stock worth $177,315,000 after purchasing an additional 28,752 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Mid-America Apartment Communities by 3.3% in the 2nd 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 purchasing an additional 44,631 shares during the period. Institutional investors own 93.19% of the company’s stock.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $136.46, for a total transaction of $682,300.00. Following the completion of the sale, the director now owns 68,778 shares in the company, valued at approximately $9,385,445.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.
Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.87). Mid-America Apartment Communities had a net margin of 16.25% and a return on equity of 3.84%. The company had revenue of $415.63 million during the quarter, compared to analyst estimates of $411.16 million. During the same quarter last year, the business posted $1.50 EPS. Mid-America Apartment Communities’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, equities analysts expect that Mid-America Apartment Communities Inc will post 6.46 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $0.96 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 2.87%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 63.58%.
A number of research firms have recently commented on MAA. Capital One Financial upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a report on Monday, November 4th. SunTrust Banks raised their price objective on Mid-America Apartment Communities to $130.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Citigroup increased their target price on Mid-America Apartment Communities from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday. ValuEngine lowered Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research note on Friday. They issued a “neutral” rating and a $149.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. Mid-America Apartment Communities has a consensus rating of “Buy” and an average price target of $126.75.
Mid-America Apartment Communities 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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