Alexandria Capital LLC bought a new position in Mid-America Apartment Communities Inc (NYSE:MAA) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 35,196 shares of the real estate investment trust’s stock, valued at approximately $3,539,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Group One Trading L.P. bought a new position in Mid-America Apartment Communities during the third quarter valued at about $209,000. Conning Inc. bought a new position in Mid-America Apartment Communities during the fourth quarter valued at about $211,000. IFM Investors Pty Ltd bought a new position in Mid-America Apartment Communities during the third quarter valued at about $217,000. Timber Hill LLC bought a new position in Mid-America Apartment Communities during the third quarter valued at about $218,000. Finally, Independent Advisor Alliance bought a new position in Mid-America Apartment Communities during the third quarter valued at about $227,000. Hedge funds and other institutional investors own 94.79% of the company’s stock.
MAA has been the subject of several research reports. DA Davidson set a $110.00 price target on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a research report on Tuesday, January 30th. SunTrust Banks set a $102.00 price objective on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a report on Monday, January 22nd. Stifel Nicolaus raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a report on Friday, January 19th. They noted that the move was a valuation call. Robert W. Baird set a $100.00 price objective on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a report on Friday, March 2nd. Finally, Jefferies Group reaffirmed a “hold” rating and set a $99.00 price objective on shares of Mid-America Apartment Communities in a report on Monday, February 5th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Mid-America Apartment Communities has a consensus rating of “Buy” and an average target price of $104.62.
Shares of Mid-America Apartment Communities Inc (MAA) traded up $0.88 during trading on Wednesday, hitting $90.38. 855,802 shares of the stock were exchanged, compared to its average volume of 952,461. Mid-America Apartment Communities Inc has a 52-week low of $85.16 and a 52-week high of $110.95. The stock has a market capitalization of $10,280.00, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 2.12 and a beta of 0.38.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $382.74 million during the quarter, compared to analysts’ expectations of $386.33 million. analysts expect that Mid-America Apartment Communities Inc will post 6.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be issued a $0.9225 dividend. This represents a $3.69 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, April 12th. Mid-America Apartment Communities’s payout ratio is 129.47%.
In other news, Director Claude B. Nielsen sold 7,200 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $86.44, for a total value of $622,368.00. Following the sale, the director now directly owns 20,417 shares of the company’s stock, valued at $1,764,845.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Reid Sanders purchased 4,100 shares of the stock in a transaction dated Friday, February 2nd. The stock was purchased at an average cost of $90.98 per share, for a total transaction of $373,018.00. Following the completion of the acquisition, the director now owns 13,109 shares of the company’s stock, valued at approximately $1,192,656.82. The disclosure for this purchase can be found here. Over the last three months, insiders bought 4,716 shares of company stock worth $426,200. 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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