Oakbrook Investments LLC Sells 272 Shares of Mid-America Apartment Communities, Inc. (MAA)
America Apartment Communities logo" title="Mid-America Apartment Communities logo" class="companylogo" />Oakbrook Investments LLC decreased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 5.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,551 shares of the real estate investment trust’s stock after selling 272 shares during the period. Oakbrook Investments LLC’s holdings in Mid-America Apartment Communities were worth $480,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAA. Roanoke Asset Management Corp NY increased its position in Mid-America Apartment Communities by 48.0% in the second quarter. Roanoke Asset Management Corp NY now owns 3,625 shares of the real estate investment trust’s stock worth $382,000 after buying an additional 1,175 shares in the last quarter. First Quadrant L P CA bought a new position in Mid-America Apartment Communities during the second quarter worth $410,000. Aperio Group LLC increased its position in Mid-America Apartment Communities by 6.5% in the second quarter. Aperio Group LLC now owns 32,828 shares of the real estate investment trust’s stock worth $3,459,000 after buying an additional 1,997 shares in the last quarter. Eqis Capital Management Inc. increased its position in Mid-America Apartment Communities by 2.5% in the second quarter. Eqis Capital Management Inc. now owns 15,046 shares of the real estate investment trust’s stock worth $1,586,000 after buying an additional 360 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in Mid-America Apartment Communities by 508.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 18,434 shares of the real estate investment trust’s stock worth $1,943,000 after buying an additional 15,406 shares in the last quarter. 92.30% of the stock is owned by hedge funds and other institutional investors.
Mid-America Apartment Communities, Inc. (NYSE:MAA) opened at 104.02 on Monday. Mid-America Apartment Communities, Inc. has a one year low of $85.04 and a one year high of $110.95. The company has a market capitalization of $11.82 billion, a P/E ratio of 48.09 and a beta of 0.35. The firm has a 50-day moving average of $103.32 and a 200 day moving average of $101.70.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.03. The business had revenue of $382.80 million during the quarter, compared to analyst estimates of $382.17 million. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The company’s revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. On average, equities analysts forecast that Mid-America Apartment Communities, Inc. will post $1.69 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 14th were given a dividend of $0.87 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.35%. Mid-America Apartment Communities’s dividend payout ratio is 148.72%.
A number of research analysts have recently weighed in on the stock. BidaskClub raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $112.00 price objective on shares of Mid-America Apartment Communities in a report on Wednesday, August 9th. BMO Capital Markets reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a report on Thursday, July 27th. Barclays PLC cut their price objective on shares of Mid-America Apartment Communities from $117.00 to $116.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. Finally, Zacks Investment Research downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $108.83.
Mid-America Apartment Communities Company Profile
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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