CIBC Asset Management Inc raised its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.7% during the second quarter, Holdings Channel reports. The fund owned 11,152 shares of the real estate investment trust’s stock after buying an additional 398 shares during the period. CIBC Asset Management Inc’s holdings in Mid-America Apartment Communities were worth $1,175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Manhattan Co. increased its position in shares of 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 worth $5,137,000 after buying an additional 1,300 shares during the last quarter. Gilman Hill Asset Management LLC increased its position in shares of 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 worth $532,000 after buying an additional 305 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of 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 worth $288,000 after buying an additional 89 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of 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 worth $24,938,000 after buying an additional 130,895 shares during the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of 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 worth $5,584,000 after buying an additional 1,078 shares during 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 Friday. Mid-America Apartment Communities, Inc. has a 12 month low of $85.04 and a 12 month high of $110.95. The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of 48.09 and a beta of 0.35. The stock’s 50 day moving average is $103.32 and its 200-day moving average is $101.70.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.03. The company had revenue of $382.80 million for 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%. Mid-America Apartment Communities’s revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.54 EPS. On average, equities research analysts expect that Mid-America Apartment Communities, Inc. will post $1.69 earnings per share for the current year.

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

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A number of research analysts recently commented on the stock. BidaskClub raised shares of Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. UBS AG downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 price objective 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 objective 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 objective 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 objective on shares of Mid-America Apartment Communities in a research note on Thursday, July 27th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Mid-America Apartment Communities presently has a consensus rating of “Buy” and an average 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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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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