IFP Advisors Inc raised its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 4,963 shares of the real estate investment trust’s stock after buying an additional 83 shares during the period. IFP Advisors Inc’s holdings in Mid-America Apartment Communities were worth $523,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Korea Investment CORP raised its stake in Mid-America Apartment Communities by 92.1% in the second quarter. Korea Investment CORP now owns 17,554 shares of the real estate investment trust’s stock worth $1,850,000 after buying an additional 8,418 shares during the last quarter. CIBC Asset Management Inc raised its stake in Mid-America Apartment Communities by 3.7% in the second quarter. CIBC Asset Management Inc now owns 11,152 shares of the real estate investment trust’s stock worth $1,175,000 after buying an additional 398 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Mid-America Apartment Communities by 13.1% in the second quarter. Great West Life Assurance Co. Can now owns 156,997 shares of the real estate investment trust’s stock worth $16,530,000 after buying an additional 18,229 shares during the last quarter. NGAM Advisors L.P. raised its stake in Mid-America Apartment Communities by 4.8% in the second quarter. NGAM Advisors L.P. now owns 51,646 shares of the real estate investment trust’s stock worth $5,443,000 after buying an additional 2,386 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its stake in Mid-America Apartment Communities by 155.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,250 shares of the real estate investment trust’s stock worth $974,000 after buying an additional 5,630 shares during the last quarter. 92.30% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities, Inc. (NYSE:MAA) opened at 104.02 on Friday. The firm has a market cap of $11.82 billion, a PE 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, Inc. has a 12 month low of $85.04 and a 12 month high of $110.95.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $382.80 million for the quarter, compared to the consensus estimate of $382.17 million. During the same period in the previous year, the business earned $1.54 EPS. Mid-America Apartment Communities’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, equities analysts forecast that Mid-America Apartment Communities, Inc. will post $1.69 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were issued a dividend of $0.87 per share. 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 dividend payout ratio is presently 148.72%.

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A number of research firms have recently issued reports on MAA. BidaskClub raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Friday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $112.00 target price on shares of Mid-America Apartment Communities in a report on Wednesday. BMO Capital Markets reaffirmed a “buy” rating and set a $105.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, July 27th. Barclays PLC dropped their target price 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 lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Mid-America Apartment Communities presently has an average 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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