Mid-America Apartment Communities, Inc. (MAA) Shares Sold by State Street Corp

State Street Corp trimmed its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,538,795 shares of the real estate investment trust’s stock after selling 188,255 shares during the quarter. State Street Corp owned 5.76% of Mid-America Apartment Communities worth $689,057,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its position in shares of Mid-America Apartment Communities by 32.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 382 shares during the last quarter. Commerce Bank purchased a new stake in shares of Mid-America Apartment Communities during the second quarter valued at approximately $223,000. BB&T Securities LLC purchased a new stake in shares of Mid-America Apartment Communities during the second quarter valued at approximately $237,000. MAI Capital Management purchased a new stake in shares of Mid-America Apartment Communities during the second quarter valued at approximately $247,000. Finally, Stephens Inc. AR increased its position in shares of Mid-America Apartment Communities by 10.4% during the second quarter. Stephens Inc. AR now owns 2,696 shares of the real estate investment trust’s stock valued at $284,000 after acquiring an additional 253 shares during the last quarter. 91.76% of the stock is owned by institutional investors.

In other news, Director David P. Stockert sold 6,872 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total value of $730,768.48. Following the completion of the sale, the director now directly owns 77,180 shares in the company, valued at approximately $8,207,321.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.25% of the company’s stock.

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MAA has been the subject of a number of research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $115.00 price target on shares of Mid-America Apartment Communities in a research report on Monday, July 10th. BTIG Research raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 price target for the company in a research report on Friday, September 8th. ValuEngine raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. BidaskClub raised Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. Finally, Zacks Investment Research downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Mid-America Apartment Communities has a consensus rating of “Buy” and an average target price of $109.75.

Shares of Mid-America Apartment Communities, Inc. (MAA) opened at 108.85 on Wednesday. The stock has a market capitalization of $12.37 billion, a P/E ratio of 50.32 and a beta of 0.37. The firm has a 50-day moving average price of $107.20 and a 200-day moving average price of $104.06. Mid-America Apartment Communities, Inc. has a 52-week low of $85.34 and a 52-week high of $110.95.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.48 EPS for the quarter, topping the consensus estimate of $1.45 by $0.03. The firm had revenue of $382.80 million during the quarter, compared to analyst estimates of $382.17 million. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. Mid-America Apartment Communities’s revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 EPS. On average, analysts predict that Mid-America Apartment Communities, Inc. will post $1.68 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $3.48 annualized dividend and a dividend yield of 3.21%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 148.72%.

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

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