Public Employees Retirement System of Ohio cut its holdings in Mid-America Apartment Communities Inc (NYSE:MAA) by 1.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,217 shares of the real estate investment trust’s stock after selling 4,150 shares during the quarter. Public Employees Retirement System of Ohio owned 0.26% of Mid-America Apartment Communities worth $29,921,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Piedmont Investment Advisors LLC purchased a new stake in Mid-America Apartment Communities during the second quarter worth $134,000. Assetmark Inc. boosted its position in Mid-America Apartment Communities by 497.4% during the first quarter. Assetmark Inc. now owns 1,607 shares of the real estate investment trust’s stock worth $147,000 after purchasing an additional 1,338 shares in the last quarter. Bridgeworth LLC purchased a new stake in Mid-America Apartment Communities during the second quarter worth $180,000. McKinley Carter Wealth Services Inc. purchased a new stake in Mid-America Apartment Communities during the first quarter worth $177,000. Finally, Chickasaw Capital Management LLC purchased a new stake in Mid-America Apartment Communities during the second quarter worth $201,000. Hedge funds and other institutional investors own 93.02% of the company’s stock.
A number of research firms have commented on MAA. Robert W. Baird reiterated a “buy” rating and set a $105.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, August 16th. SunTrust Banks restated a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, August 9th. Stifel Nicolaus downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Thursday, August 2nd. Finally, ValuEngine upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $103.40.
Mid-America Apartment Communities stock traded down $0.25 during trading on Friday, hitting $94.61. The company’s stock had a trading volume of 707,041 shares, compared to its average volume of 674,065. The firm has a market capitalization of $11.40 billion, a P/E ratio of 15.93, a PEG ratio of 2.37 and a beta of 0.28. Mid-America Apartment Communities Inc has a 1-year low of $85.16 and a 1-year high of $110.24. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.70.
Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($1.00). The business had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.62 million. Mid-America Apartment Communities had a net margin of 22.36% and a return on equity of 5.28%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 earnings per share. As a group, equities analysts predict that Mid-America Apartment Communities Inc will post 6.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Monday, October 15th will be paid a $0.9225 dividend. The ex-dividend date is Friday, October 12th. This represents a $3.69 annualized dividend and a yield of 3.90%. Mid-America Apartment Communities’s payout ratio is currently 62.12%.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 1,617 shares of the company’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $101.59, for a total transaction of $164,271.03. Following the completion of the sale, the director now directly owns 75,563 shares in the company, valued at $7,676,445.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Russell R. French sold 4,993 shares of the company’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $100.69, for a total value of $502,745.17. Following the sale, the director now owns 17,770 shares of the company’s stock, valued at $1,789,261.30. The disclosure for this sale can be found here. Corporate insiders own 1.26% 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 throughout the United States. As of June 30, 2018, MAA had ownership interest in 101,362 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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.