Renaissance Technologies LLC decreased its position in Mid-America Apartment Communities Inc (NYSE:MAA) by 1.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,119,390 shares of the real estate investment trust’s stock after selling 27,500 shares during the period. Renaissance Technologies LLC owned approximately 1.87% of Mid-America Apartment Communities worth $213,126,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Group One Trading L.P. bought a new stake in Mid-America Apartment Communities in the 3rd quarter valued at $209,000. IFM Investors Pty Ltd bought a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $217,000. Timber Hill LLC bought a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $218,000. Independent Advisor Alliance bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $227,000. Finally, Conning Inc. bought a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at about $211,000. 94.79% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on MAA. BMO Capital Markets cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $107.00 target price on the stock. in a report on Monday, November 27th. Raymond James Financial reiterated a “market perform” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, November 29th. UBS Group lowered shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 29th. Jefferies Group downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Thursday, December 14th. Finally, Barclays dropped their price objective on shares of Mid-America Apartment Communities from $113.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $104.62.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $1.08 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.40). Mid-America Apartment Communities had a return on equity of 4.99% and a net margin of 21.42%. The company had revenue of $382.74 million during the quarter, compared to the consensus estimate of $386.33 million. analysts predict that Mid-America Apartment Communities Inc will post 6.03 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be given a $0.9225 dividend. This represents a $3.69 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Thursday, April 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 129.47%.
In related news, Director Gary Shorb purchased 500 shares of the business’s stock in a transaction on Friday, February 9th. The stock was acquired at an average price of $86.53 per share, with a total value of $43,265.00. Following the purchase, the director now directly owns 4,750 shares in the company, valued at $411,017.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Claude B. Nielsen sold 7,200 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $86.44, for a total transaction of $622,368.00. Following the completion of the transaction, the director now directly owns 20,417 shares of the company’s stock, valued at approximately $1,764,845.48. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 4,716 shares of company stock valued at $426,200. 1.25% of the stock is owned by corporate insiders.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://stocknewstimes.com/2018/03/14/renaissance-technologies-llc-sells-27500-shares-of-mid-america-apartment-communities-inc-maa.html.
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.
Receive News & Ratings for Mid-America Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.