World Asset Management Inc cut its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 11.0% during the second quarter, Holdings Channel reports. The institutional investor owned 11,466 shares of the real estate investment trust’s stock after selling 1,411 shares during the period. World Asset Management Inc’s holdings in Mid-America Apartment Communities were worth $1,208,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the stock. UBS Asset Management Americas Inc. increased its stake in shares of Mid-America Apartment Communities by 55.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 376,231 shares of the real estate investment trust’s stock valued at $36,841,000 after buying an additional 133,851 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $807,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $360,000. Macquarie Group Ltd. increased its stake in shares of Mid-America Apartment Communities by 88.8% in the fourth quarter. Macquarie Group Ltd. now owns 59,012 shares of the real estate investment trust’s stock valued at $5,778,000 after buying an additional 27,752 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. increased its stake in shares of Mid-America Apartment Communities by 3.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 98,498 shares of the real estate investment trust’s stock valued at $10,021,000 after buying an additional 3,636 shares in the last quarter. Institutional investors own 92.22% of the company’s stock.

Mid-America Apartment Communities, Inc. (NYSE:MAA) opened at 103.76 on Friday. The firm’s 50-day moving average is $104.55 and its 200-day moving average is $101.35. Mid-America Apartment Communities, Inc. has a 12 month low of $85.04 and a 12 month high of $110.95. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 47.97 and a beta of 0.35.

Mid-America Apartment Communities (NYSE:MAA) last issued its 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. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. The business had revenue of $382.80 million during the quarter, compared to analyst estimates of $382.17 million. During the same quarter in the previous year, the firm earned $1.54 EPS. Mid-America Apartment Communities’s revenue was up 40.6% on a year-over-year basis. On average, analysts anticipate that Mid-America Apartment Communities, Inc. will post $1.67 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were given a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Wednesday, July 12th. Mid-America Apartment Communities’s payout ratio is currently 148.72%.

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MAA has been the subject of several analyst reports. Barclays PLC reiterated an “overweight” rating and issued a $117.00 target price (up previously from $116.00) on shares of Mid-America Apartment Communities in a report on Wednesday, April 19th. Royal Bank Of Canada restated a “buy” rating on shares of Mid-America Apartment Communities in a research report on Thursday, April 27th. BidaskClub upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. UBS AG lowered shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 price target for the company. in a research report on Thursday, July 6th. Finally, Jefferies Group LLC restated a “buy” rating and set a $115.00 price target on shares of Mid-America Apartment Communities in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $107.62.

In other Mid-America Apartment Communities news, Director Gary Shorb purchased 500 shares of Mid-America Apartment Communities stock in a transaction dated Tuesday, May 9th. The stock was purchased at an average price of $98.90 per share, with a total value of $49,450.00. Following the transaction, the director now directly owns 4,250 shares of the company’s stock, valued at $420,325. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.25% of the stock is owned by corporate insiders.

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

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