Spirit of America Management Corp NY reduced its position in Mid-America Apartment Communities Inc. (NYSE:MAA) by 8.5% during the third quarter, Holdings Channel reports. The fund owned 38,422 shares of the real estate investment trust’s stock after selling 3,550 shares during the period. Spirit of America Management Corp NY’s holdings in Mid-America Apartment Communities were worth $3,611,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of MAA. Vanguard Group Inc. boosted its stake in shares of Mid-America Apartment Communities by 3.0% in the second quarter. Vanguard Group Inc. now owns 11,555,159 shares of the real estate investment trust’s stock worth $1,229,468,000 after buying an additional 337,159 shares during the last quarter. State Street Corp boosted its stake in shares of Mid-America Apartment Communities by 3.8% in the second quarter. State Street Corp now owns 3,689,578 shares of the real estate investment trust’s stock worth $392,571,000 after buying an additional 136,144 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Mid-America Apartment Communities by 4.7% in the second quarter. BlackRock Fund Advisors now owns 3,229,689 shares of the real estate investment trust’s stock worth $343,639,000 after buying an additional 145,382 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Mid-America Apartment Communities by 172.0% in the second quarter. JPMorgan Chase & Co. now owns 2,261,154 shares of the real estate investment trust’s stock worth $240,586,000 after buying an additional 1,429,879 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Mid-America Apartment Communities by 11.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,544,647 shares of the real estate investment trust’s stock worth $164,350,000 after buying an additional 159,036 shares during the last quarter. Institutional investors and hedge funds own 98.05% of the company’s stock.

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

Shares of Mid-America Apartment Communities Inc. (NYSE:MAA) traded down 2.32% during midday trading on Wednesday, hitting $91.63. 6,673,297 shares of the stock traded hands. Mid-America Apartment Communities Inc. has a 1-year low of $82.91 and a 1-year high of $110.01. The company has a market capitalization of $6.92 billion, a P/E ratio of 32.04 and a beta of 0.33. The stock has a 50 day moving average of $91.41 and a 200 day moving average of $97.50.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $1.49 EPS for the quarter, meeting the consensus estimate of $1.49. The company earned $276.90 million during the quarter, compared to the consensus estimate of $275.82 million. Mid-America Apartment Communities had a return on equity of 6.87% and a net margin of 19.96%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.38 EPS. Equities research analysts predict that Mid-America Apartment Communities Inc. will post $5.92 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Friday, October 14th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.58%. The ex-dividend date was Wednesday, October 12th. Mid-America Apartment Communities’s dividend payout ratio is 115.49%.

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A number of analysts have recently weighed in on the stock. BTIG Research assumed coverage on shares of Mid-America Apartment Communities in a research report on Thursday, August 25th. They set a “neutral” rating on the stock. Jefferies Group lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and dropped their target price for the stock from $115.00 to $109.00 in a research report on Wednesday, August 10th. SunTrust Banks Inc. raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $108.00 target price on the stock in a research report on Friday, August 19th. Citigroup Inc. boosted their target price on shares of Mid-America Apartment Communities from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Finally, JMP Securities raised shares of Mid-America Apartment Communities from a “market perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research report on Thursday, October 20th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Mid-America Apartment Communities currently has a consensus rating of “Buy” and a consensus price target of $106.42.

About Mid-America Apartment Communities

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