RKL Wealth Management LLC cut its holdings in Mid-America Apartment Communities Inc (NYSE:MAA) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,800 shares of the real estate investment trust’s stock after selling 903 shares during the quarter. RKL Wealth Management LLC’s holdings in Mid-America Apartment Communities were worth $1,997,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cbre Clarion Securities LLC increased its stake in shares of Mid-America Apartment Communities by 490.5% during the second quarter. Cbre Clarion Securities LLC now owns 1,670,247 shares of the real estate investment trust’s stock worth $168,144,000 after acquiring an additional 1,387,389 shares during the period. Centersquare Investment Management LLC acquired a new position in Mid-America Apartment Communities during the second quarter worth about $74,941,000. AMP Capital Investors Ltd lifted its holdings in shares of Mid-America Apartment Communities by 494.9% in the second quarter. AMP Capital Investors Ltd now owns 619,040 shares of the real estate investment trust’s stock valued at $62,320,000 after purchasing an additional 514,981 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Mid-America Apartment Communities by 1,097.2% in the second quarter. Russell Investments Group Ltd. now owns 385,973 shares of the real estate investment trust’s stock valued at $38,935,000 after purchasing an additional 353,733 shares in the last quarter. Finally, Adelante Capital Management LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter valued at about $21,007,000. Institutional investors own 92.73% of the company’s stock.
Shares of Mid-America Apartment Communities stock traded down $2.39 during trading hours on Wednesday, hitting $101.00. The company’s stock had a trading volume of 1,060,108 shares, compared to its average volume of 534,922. Mid-America Apartment Communities Inc has a 1-year low of $85.16 and a 1-year high of $104.98. The firm has a market capitalization of $11.79 billion, a P/E ratio of 17.00, a PEG ratio of 2.44 and a beta of 0.31. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.70.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($1.04). Mid-America Apartment Communities had a net margin of 18.20% and a return on equity of 4.36%. The company had revenue of $397.10 million for the quarter, compared to the consensus estimate of $393.76 million. During the same quarter last year, the company earned $1.50 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts expect that Mid-America Apartment Communities Inc will post 6.05 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Tuesday, January 15th will be given a $0.96 dividend. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.80%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 62.12%.
Several brokerages have issued reports on MAA. Barclays reaffirmed a “buy” rating on shares of Mid-America Apartment Communities in a report on Wednesday, November 28th. Citigroup set a $105.00 price target on shares of Mid-America Apartment Communities and gave the company a “hold” rating in a report on Monday, November 5th. Capital One Financial reissued an “equal weight” rating on shares of Mid-America Apartment Communities in a research note on Friday, October 19th. Scotiabank initiated coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, October 16th. They set a “sector perform” rating on the stock. Finally, Robert W. Baird reissued a “buy” rating and set a $105.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, August 16th. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $102.59.
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Mid-America Apartment Communities Company 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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
Further Reading: Cash Flow
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