Advisors Asset Management Inc. reduced its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 39.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,151 shares of the real estate investment trust’s stock after selling 19,034 shares during the period. Advisors Asset Management Inc.’s holdings in Mid-America Apartment Communities were worth $3,072,000 as of its most recent filing with the SEC.
Several other large investors have also bought and sold shares of the company. IFP Advisors Inc raised its stake in Mid-America Apartment Communities by 8.5% in the first quarter. IFP Advisors Inc now owns 4,880 shares of the real estate investment trust’s stock worth $496,000 after buying an additional 381 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in Mid-America Apartment Communities during the first quarter worth $239,000. Glen Harbor Capital Management LLC raised its stake in Mid-America Apartment Communities by 30.0% in the first quarter. Glen Harbor Capital Management LLC now owns 5,096 shares of the real estate investment trust’s stock worth $518,000 after buying an additional 1,176 shares in the last quarter. Chickasaw Capital Management LLC acquired a new stake in Mid-America Apartment Communities during the first quarter worth $203,000. Finally, Korea Investment CORP raised its stake in Mid-America Apartment Communities by 6,717.9% in the first quarter. Korea Investment CORP now owns 9,136 shares of the real estate investment trust’s stock worth $929,000 after buying an additional 9,002 shares in the last quarter. Institutional investors own 92.35% of the company’s stock.
Shares of Mid-America Apartment Communities, Inc. (NYSE MAA) opened at 105.77 on Monday. The company has a market capitalization of $12.02 billion, a P/E ratio of 48.90 and a beta of 0.35. The firm has a 50-day moving average of $103.20 and a 200-day moving average of $102.07. Mid-America Apartment Communities, Inc. has a 12 month low of $85.04 and a 12 month high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.03. The business had revenue of $382.80 million during the quarter, compared to analysts’ expectations of $382.17 million. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.54 earnings per share. On average, equities analysts predict that Mid-America Apartment Communities, Inc. will post $1.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were issued a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $3.48 annualized dividend and a yield of 3.29%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 148.72%.
COPYRIGHT VIOLATION WARNING: “Advisors Asset Management Inc. Has $3.07 Million Stake in Mid-America Apartment Communities, Inc. (MAA)” was posted by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this report on another site, it was illegally copied and republished in violation of United States and international copyright & trademark legislation. The correct version of this report can be read at https://sportsperspectives.com/2017/08/21/advisors-asset-management-inc-has-3-07-million-stake-in-mid-america-apartment-communities-inc-maa.html.
A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. UBS AG lowered shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 target price on the stock. in a report on Thursday, July 6th. Royal Bank Of Canada restated a “buy” rating and issued a $112.00 target price on shares of Mid-America Apartment Communities in a report on Wednesday, August 9th. Jefferies Group LLC restated a “buy” rating and issued a $115.00 target price on shares of Mid-America Apartment Communities in a report on Monday, July 10th. Finally, BMO Capital Markets restated a “buy” rating and issued a $105.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $108.30.
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.
Receive News & Ratings for Mid-America Apartment Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities Inc. and related companies with MarketBeat.com's FREE daily email newsletter.