Pioneer Investment Management Inc. cut its stake in Mid-America Apartment Communities Inc (NYSE:MAA) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,227 shares of the real estate investment trust’s stock after selling 6,022 shares during the period. Pioneer Investment Management Inc.’s holdings in Mid-America Apartment Communities were worth $23,524,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. First Manhattan Co. boosted its position in Mid-America Apartment Communities by 2.4% in the first quarter. First Manhattan Co. now owns 54,660 shares of the real estate investment trust’s stock valued at $5,137,000 after buying an additional 1,300 shares during the last quarter. Gilman Hill Asset Management LLC boosted its position in Mid-America Apartment Communities by 6.2% in the first quarter. Gilman Hill Asset Management LLC now owns 5,233 shares of the real estate investment trust’s stock valued at $532,000 after buying an additional 305 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in Mid-America Apartment Communities by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 89 shares during the last quarter. Nationwide Fund Advisors boosted its position in Mid-America Apartment Communities by 114.6% in the first quarter. Nationwide Fund Advisors now owns 245,115 shares of the real estate investment trust’s stock valued at $24,938,000 after buying an additional 130,895 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in Mid-America Apartment Communities by 2.0% in the first quarter. Retirement Systems of Alabama now owns 54,886 shares of the real estate investment trust’s stock valued at $5,584,000 after buying an additional 1,078 shares during the last quarter. 92.30% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Inc (NYSE:MAA) opened at 105.09 on Thursday. Mid-America Apartment Communities Inc has a 52 week low of $85.04 and a 52 week high of $110.95. The company has a market cap of $11.94 billion, a PE ratio of 48.59 and a beta of 0.35. The company’s 50-day moving average price is $103.63 and its 200 day moving average price is $101.62.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.03. The company had revenue of $382.80 million during the quarter, compared to analysts’ expectations of $382.17 million. Mid-America Apartment Communities had a return on equity of 3.00% and a net margin of 13.02%. The business’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same period last year, the firm earned $1.54 EPS. On average, analysts anticipate that Mid-America Apartment Communities Inc will post $1.73 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were paid a $0.87 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $3.48 annualized dividend and a dividend yield of 3.31%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 148.72%.

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Several research firms have recently issued reports on MAA. BidaskClub raised Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. UBS AG cut 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 note on Thursday, July 6th. Royal Bank Of Canada reissued a “buy” rating and issued a $112.00 price target on shares of Mid-America Apartment Communities in a research note on Wednesday. Jefferies Group LLC reissued a “buy” rating and issued a $115.00 price target on shares of Mid-America Apartment Communities in a research note on Monday, July 10th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $105.00 price target on shares of Mid-America Apartment Communities in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $108.83.

About Mid-America Apartment Communities

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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