DNB Asset Management AS Purchases 700 Shares of Mid-America Apartment Communities Inc (NYSE:MAA)

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DNB Asset Management AS lifted its stake in Mid-America Apartment Communities Inc (NYSE:MAA) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,500 shares of the real estate investment trust’s stock after buying an additional 700 shares during the period. DNB Asset Management AS’s holdings in Mid-America Apartment Communities were worth $1,352,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Stifel Financial Corp grew its holdings in shares of Mid-America Apartment Communities by 14.2% in the first quarter. Stifel Financial Corp now owns 11,433 shares of the real estate investment trust’s stock valued at $1,042,000 after purchasing an additional 1,424 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Mid-America Apartment Communities by 3.8% in the first quarter. Lord Abbett & CO. LLC now owns 55,100 shares of the real estate investment trust’s stock valued at $5,027,000 after purchasing an additional 2,000 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Mid-America Apartment Communities by 15.5% in the first quarter. The Manufacturers Life Insurance Company now owns 117,079 shares of the real estate investment trust’s stock valued at $10,683,000 after purchasing an additional 15,686 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Mid-America Apartment Communities by 20.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,209 shares of the real estate investment trust’s stock valued at $1,566,000 after purchasing an additional 2,865 shares in the last quarter. Finally, Guggenheim Capital LLC grew its holdings in shares of Mid-America Apartment Communities by 11.4% in the first quarter. Guggenheim Capital LLC now owns 394,472 shares of the real estate investment trust’s stock valued at $35,992,000 after purchasing an additional 40,266 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

In other news, Director Russell R. French sold 4,993 shares of Mid-America Apartment Communities stock in a transaction on Monday, August 13th. The stock was sold at an average price of $100.69, for a total transaction of $502,745.17. Following the completion of the sale, the director now directly owns 17,770 shares in the company, valued at $1,789,261.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.26% of the stock is currently owned by company insiders.

Several research firms have commented on MAA. Barclays reaffirmed a “buy” rating and set a $110.00 price objective on shares of Mid-America Apartment Communities in a research note on Sunday, October 14th. Stifel Nicolaus lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Thursday, August 2nd. Capital One Financial began coverage on shares of Mid-America Apartment Communities in a research note on Monday, October 22nd. They set an “equal weight” rating and a $101.50 price objective for the company. Robert W. Baird reaffirmed 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. Finally, Citigroup set a $105.00 price objective on shares of Mid-America Apartment Communities and gave the stock a “hold” rating in a research note on Monday, November 5th. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company. Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus target price of $102.59.

Shares of NYSE:MAA traded up $0.63 on Friday, hitting $100.52. 443,527 shares of the company’s stock were exchanged, compared to its average volume of 696,958. Mid-America Apartment Communities Inc has a 12 month low of $85.16 and a 12 month high of $106.77. The company has a market cap of $11.20 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 2.32 and a beta of 0.25. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.70.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($1.04). Mid-America Apartment Communities had a return on equity of 4.36% and a net margin of 18.20%. The business 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 business posted $1.50 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts predict that Mid-America Apartment Communities Inc will post 6.05 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th were given a dividend of $0.9225 per share. The ex-dividend date was Friday, October 12th. This represents a $3.69 annualized dividend and a dividend yield of 3.67%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 62.12%.

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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.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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