AXA raised its holdings in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 14.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,416 shares of the real estate investment trust’s stock after purchasing an additional 15,936 shares during the period. AXA owned 0.11% of Mid-America Apartment Communities worth $13,191,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Public Employees Retirement System of Ohio boosted its stake in shares of Mid-America Apartment Communities by 1.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 273,589 shares of the real estate investment trust’s stock worth $29,241,000 after buying an additional 3,852 shares during the last quarter. Hahn Capital Management LLC lifted its position in Mid-America Apartment Communities by 0.9% during the third quarter. Hahn Capital Management LLC now owns 276,372 shares of the real estate investment trust’s stock valued at $29,539,000 after purchasing an additional 2,570 shares in the last quarter. IFM Investors Pty Ltd purchased a new position in Mid-America Apartment Communities during the third quarter valued at $217,000. Independent Advisor Alliance purchased a new position in Mid-America Apartment Communities during the third quarter valued at $227,000. Finally, Green Square Capital LLC lifted its position in Mid-America Apartment Communities by 218.7% during the third quarter. Green Square Capital LLC now owns 48,087 shares of the real estate investment trust’s stock valued at $5,140,000 after purchasing an additional 33,000 shares in the last quarter. 92.70% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on MAA. ValuEngine cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. JMP Securities lowered Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 19th. BMO Capital Markets lowered Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $107.00 price target for the company. in a research report on Monday, November 27th. Mizuho reiterated a “hold” rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a research report on Monday, November 6th. Finally, Raymond James Financial restated a “market perform” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, November 29th. Nine research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $110.50.
Mid-America Apartment Communities (NYSE:MAA) last announced 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 Zacks’ consensus estimate of $0.39 by $0.61. The business had revenue of $384.60 million during the quarter, compared to the consensus estimate of $386.96 million. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The business’s revenue was up 38.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.47 EPS. equities research analysts anticipate that Mid-America Apartment Communities Inc will post 5.92 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be given a dividend of $0.9225 per share. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. This represents a $3.69 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Thursday, January 11th. Mid-America Apartment Communities’s payout ratio is 156.76%.
In related news, Director William Reid Sanders purchased 7,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were purchased at an average cost of $100.11 per share, for a total transaction of $700,770.00. Following the purchase, the director now directly owns 8,209 shares of the company’s stock, valued at $821,802.99. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have bought 7,116 shares of company stock valued at $710,687. Corporate insiders own 1.25% of the company’s stock.
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About Mid-America Apartment Communities
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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