California State Teachers Retirement System decreased its stake in Mid-America Apartment Communities Inc (NYSE:MAA) by 9.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,132 shares of the real estate investment trust’s stock after selling 19,356 shares during the quarter. California State Teachers Retirement System owned 0.17% of Mid-America Apartment Communities worth $20,963,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MAA. FDO Partners LLC bought a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $268,000. Tredje AP fonden boosted its stake in shares of Mid-America Apartment Communities by 15.8% during the 3rd quarter. Tredje AP fonden now owns 9,110 shares of the real estate investment trust’s stock worth $974,000 after acquiring an additional 1,240 shares during the period. KBC Group NV boosted its stake in Mid-America Apartment Communities by 146.5% in the 3rd quarter. KBC Group NV now owns 42,162 shares of the real estate investment trust’s stock valued at $4,506,000 after purchasing an additional 25,056 shares during the period. Dimensional Fund Advisors LP boosted its stake in Mid-America Apartment Communities by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,638,144 shares of the real estate investment trust’s stock valued at $175,082,000 after purchasing an additional 28,084 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Mid-America Apartment Communities by 40.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 339,977 shares of the real estate investment trust’s stock valued at $36,337,000 after purchasing an additional 97,844 shares during the period. 92.70% of the stock is currently owned by institutional investors.
In other Mid-America Apartment Communities news, Director William Reid Sanders purchased 7,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was bought at an average cost of $100.11 per share, with a total value of $700,770.00. Following the completion of the transaction, the director now owns 8,209 shares of the company’s stock, valued at approximately $821,802.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 7,116 shares of company stock valued at $710,687 over the last ninety days. 1.25% of the stock is currently owned by company insiders.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, topping the consensus estimate of $0.39 by $0.61. The firm had revenue of $384.60 million during the quarter, compared to the consensus estimate of $386.96 million. Mid-America Apartment Communities had a return on equity of 4.22% and a net margin of 16.73%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.47 earnings per share. equities analysts predict that Mid-America Apartment Communities Inc will post 5.92 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be given a dividend of $0.9225 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 4.01%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. The ex-dividend date is Thursday, January 11th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 156.76%.
Several equities analysts have weighed in on the company. Jefferies Group cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Thursday, December 14th. Raymond James Financial restated a “market perform” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, November 29th. UBS Group lowered Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 29th. BMO Capital Markets lowered Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $107.00 price objective on the stock. in a research report on Monday, November 27th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a research report on Monday, November 13th. Nine analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $110.50.
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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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