Mid-America Apartment Communities, Inc. (MAA) Shares Sold by Friedberg Investment Management

Friedberg Investment Management cut its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 80.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,750 shares of the real estate investment trust’s stock after selling 19,960 shares during the period. Friedberg Investment Management’s holdings in Mid-America Apartment Communities were worth $508,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MAA. Brookfield Asset Management Inc. bought a new stake in Mid-America Apartment Communities during the 2nd quarter worth approximately $158,747,000. Alliancebernstein L.P. grew its position in Mid-America Apartment Communities by 90.7% during the 2nd quarter. Alliancebernstein L.P. now owns 2,406,670 shares of the real estate investment trust’s stock worth $253,615,000 after acquiring an additional 1,144,768 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Mid-America Apartment Communities by 3,863.2% during the 3rd quarter. Daiwa Securities Group Inc. now owns 797,196 shares of the real estate investment trust’s stock worth $85,205,000 after acquiring an additional 777,081 shares during the last quarter. Janus Henderson Group PLC grew its position in Mid-America Apartment Communities by 4,202.0% during the 2nd quarter. Janus Henderson Group PLC now owns 565,631 shares of the real estate investment trust’s stock worth $59,607,000 after acquiring an additional 552,483 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in Mid-America Apartment Communities by 31.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,884,990 shares of the real estate investment trust’s stock worth $198,640,000 after acquiring an additional 451,849 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company’s stock.

MAA has been the topic of a number of research analyst reports. BMO Capital Markets restated a “buy” rating and set a $105.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, July 27th. SunTrust Banks, Inc. restated a “buy” rating and set a $109.00 price target on shares of Mid-America Apartment Communities in a research report on Friday, November 3rd. Stifel Nicolaus began coverage on Mid-America Apartment Communities in a research report on Thursday, August 31st. They set a “hold” rating and a $113.00 price target on the stock. BTIG Research upgraded Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 price objective on the stock in a research report on Friday, September 8th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, November 3rd. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Mid-America Apartment Communities presently has an average rating of “Buy” and a consensus price target of $110.33.

In other news, Director David P. Stockert sold 6,872 shares of the firm’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 transaction, the director now directly owns 77,180 shares in the company, valued at approximately $8,207,321.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Reid Sanders purchased 7,000 shares of Mid-America Apartment Communities stock in a transaction dated Friday, October 27th. The stock was bought at an average price of $100.11 per share, for a total transaction of $700,770.00. Following the completion of the transaction, the director now directly owns 8,209 shares in the company, valued at $821,802.99. The disclosure for this purchase can be found here. 1.25% of the stock is owned by company insiders.

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Mid-America Apartment Communities, Inc. (MAA) traded up $1.81 during trading hours on Wednesday, hitting $104.59. The stock had a trading volume of 736,700 shares, compared to its average volume of 677,796. Mid-America Apartment Communities, Inc. has a 1-year low of $87.59 and a 1-year high of $110.95. The company has a market cap of $11,678.58, a price-to-earnings ratio of 17.30, a P/E/G ratio of 2.48 and a beta of 0.35.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.61. Mid-America Apartment Communities had a return on equity of 4.22% and a net margin of 16.73%. The business had revenue of $384.60 million for the quarter, compared to analyst estimates of $386.96 million. During the same period last year, the company earned $1.47 EPS. The firm’s revenue was up 38.9% on a year-over-year basis. equities analysts predict that Mid-America Apartment Communities, Inc. will post 5.91 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th were given a $0.87 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $3.48 annualized dividend and a dividend yield of 3.33%. Mid-America Apartment Communities’s dividend payout ratio is currently 156.76%.

Mid-America Apartment Communities 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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