Vanguard Group Inc. grew its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 1.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 18,910,197 shares of the real estate investment trust’s stock after purchasing an additional 289,359 shares during the quarter. Vanguard Group Inc. owned 16.38% of Mid-America Apartment Communities worth $3,960,741,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. CAPROCK Group Inc. increased its position in shares of Mid-America Apartment Communities by 6.6% during the 1st quarter. CAPROCK Group Inc. now owns 973 shares of the real estate investment trust’s stock valued at $204,000 after purchasing an additional 60 shares during the period. Kathmere Capital Management LLC grew its holdings in shares of Mid-America Apartment Communities by 3.5% in the 1st quarter. Kathmere Capital Management LLC now owns 1,969 shares of the real estate investment trust’s stock worth $412,000 after acquiring an additional 66 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Mid-America Apartment Communities by 0.8% in the 1st quarter. Crossmark Global Holdings Inc. now owns 8,308 shares of the real estate investment trust’s stock worth $1,740,000 after acquiring an additional 70 shares during the last quarter. Veritable L.P. grew its holdings in shares of Mid-America Apartment Communities by 2.5% in the 1st quarter. Veritable L.P. now owns 2,955 shares of the real estate investment trust’s stock worth $619,000 after acquiring an additional 73 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Mid-America Apartment Communities by 2.5% during the first quarter. Signaturefd LLC now owns 3,053 shares of the real estate investment trust’s stock valued at $639,000 after buying an additional 75 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Raymond James reiterated a “downgrade” rating on shares of Mid-America Apartment Communities in a report on Thursday, August 4th. Jefferies Financial Group lowered their price target on Mid-America Apartment Communities from $212.00 to $201.00 and set a “buy” rating on the stock in a report on Thursday, June 30th. The Goldman Sachs Group lifted their price objective on Mid-America Apartment Communities from $180.00 to $200.00 and gave the company a “neutral” rating in a research report on Tuesday, August 16th. Piper Sandler reduced their price objective on Mid-America Apartment Communities from $200.00 to $195.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Finally, Mizuho reduced their price target on Mid-America Apartment Communities from $221.00 to $178.00 and set a “neutral” rating for the company in a research report on Monday, June 27th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $207.64.
Mid-America Apartment Communities Trading Up 1.1 %
Mid-America Apartment Communities (NYSE:MAA – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $1.82 earnings per share for the quarter, missing the consensus estimate of $2.00 by ($0.18). Mid-America Apartment Communities had a net margin of 31.30% and a return on equity of 10.01%. The company had revenue of $495.04 million during the quarter, compared to the consensus estimate of $488.64 million. During the same quarter in the prior year, the company posted $1.69 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, research analysts predict that Mid-America Apartment Communities, Inc. will post 8.28 earnings per share for the current year.
Mid-America Apartment Communities Announces Dividend
The business also recently disclosed a dividend, which was paid on Monday, July 25th. Stockholders of record on Friday, July 15th were paid a $1.25 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a dividend yield of 2.85%. Mid-America Apartment Communities’s dividend payout ratio is currently 98.04%.
In other news, EVP Melanie Carpenter sold 1,355 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $186.27, for a total value of $252,395.85. Following the transaction, the executive vice president now directly owns 17,953 shares of the company’s stock, valued at approximately $3,344,105.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.34% of the company’s stock.
About Mid-America Apartment Communities
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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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