HighTower Advisors LLC Buys 2,550 Shares of Mid-America Apartment Communities, Inc. (MAA)
HighTower Advisors LLC grew its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 18.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,280 shares of the real estate investment trust’s stock after buying an additional 2,550 shares during the period. HighTower Advisors LLC’s holdings in Mid-America Apartment Communities were worth $1,717,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in MAA. Bronfman E.L. Rothschild L.P. increased its position in Mid-America Apartment Communities by 32.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 382 shares in the last quarter. Commerce Bank purchased a new position in Mid-America Apartment Communities during the second quarter worth $223,000. BB&T Securities LLC purchased a new position in Mid-America Apartment Communities during the second quarter worth $237,000. MAI Capital Management purchased a new position in Mid-America Apartment Communities during the second quarter worth $247,000. Finally, RFG Advisory Group LLC purchased a new position in Mid-America Apartment Communities during the second quarter worth $282,000. 91.76% of the stock is owned by institutional investors.
Shares of Mid-America Apartment Communities, Inc. (NYSE MAA) opened at 108.34 on Tuesday. The stock has a market cap of $12.31 billion, a P/E ratio of 50.09 and a beta of 0.37. The stock has a 50 day moving average price of $107.17 and a 200-day moving average price of $104.01. Mid-America Apartment Communities, Inc. has a 12 month low of $85.34 and a 12 month high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.03. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. 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. The company’s revenue was up 40.6% on a year-over-year basis. On average, analysts forecast that Mid-America Apartment Communities, Inc. will post $1.68 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th will be paid a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.21%. The ex-dividend date of this dividend is Thursday, October 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 148.72%.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 6,872 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total transaction of $730,768.48. Following the sale, the director now directly owns 77,180 shares of the company’s stock, valued at approximately $8,207,321.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.25% of the stock is owned by insiders.
Several equities analysts have weighed in on the company. Barclays PLC dropped their price target on Mid-America Apartment Communities from $117.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday, July 18th. BidaskClub raised Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. UBS AG downgraded 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. Zacks Investment Research raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research report on Wednesday, July 12th. Finally, Stifel Nicolaus assumed coverage on Mid-America Apartment Communities in a research report on Thursday, August 31st. They set a “hold” rating and a $113.00 price target for the company. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $109.75.
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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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