Alexandria Capital LLC grew its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 19.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,011 shares of the real estate investment trust’s stock after buying an additional 6,815 shares during the period. Alexandria Capital LLC’s holdings in Mid-America Apartment Communities were worth $3,833,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Mid-America Apartment Communities by 4.2% during the 4th quarter. BlackRock Inc. now owns 11,003,658 shares of the real estate investment trust’s stock valued at $1,106,527,000 after buying an additional 440,089 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Mid-America Apartment Communities by 64.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,848,217 shares of the real estate investment trust’s stock worth $442,351,000 after purchasing an additional 1,906,796 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Mid-America Apartment Communities by 1.7% in the 4th quarter. Alliancebernstein L.P. now owns 3,109,252 shares of the real estate investment trust’s stock worth $312,666,000 after purchasing an additional 50,626 shares in the last quarter. OppenheimerFunds Inc. lifted its holdings in Mid-America Apartment Communities by 31.3% in the 1st quarter. OppenheimerFunds Inc. now owns 2,451,735 shares of the real estate investment trust’s stock worth $223,698,000 after purchasing an additional 584,929 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Mid-America Apartment Communities by 2.5% in the 1st quarter. Northern Trust Corp now owns 1,880,697 shares of the real estate investment trust’s stock worth $171,596,000 after purchasing an additional 46,341 shares in the last quarter. 91.56% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on MAA shares. Zacks Investment Research cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. Barclays reissued a “buy” rating and issued a $112.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, April 17th. BTIG Research cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating in a report on Thursday, May 31st. ValuEngine raised Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Tuesday, May 29th. Finally, BMO Capital Markets set a $97.00 price target on Mid-America Apartment Communities and gave the stock a “hold” rating in a report on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $104.62.
Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($1.04). The company had revenue of $386.01 million for the quarter, compared to the consensus estimate of $384.42 million. Mid-America Apartment Communities had a net margin of 21.72% and a return on equity of 5.10%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.46 EPS. equities analysts expect that Mid-America Apartment Communities Inc will post 5.99 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, July 13th will be given a dividend of $0.9225 per share. This represents a $3.69 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, July 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 62.12%.
In other Mid-America Apartment Communities news, Director William Reid Sanders acquired 2,800 shares of the business’s stock in a transaction on Monday, May 21st. The shares were bought at an average price of $87.92 per share, with a total value of $246,176.00. Following the transaction, the director now directly owns 15,109 shares of the company’s stock, valued at approximately $1,328,383.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider H Eric Bolton, Jr. acquired 1,130 shares of the business’s stock in a transaction on Friday, May 18th. The stock was acquired at an average cost of $88.39 per share, for a total transaction of $99,880.70. Following the transaction, the insider now directly owns 220,643 shares in the company, valued at $19,502,634.77. The disclosure for this purchase can be found here. Insiders own 1.26% of the company’s stock.
Mid-America Apartment Communities Profile
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities throughout the United States. As of March 31, 2018, MAA had ownership interest in 100,490 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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