State of Tennessee Treasury Department lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 90.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,313 shares of the real estate investment trust’s stock after purchasing an additional 28,249 shares during the quarter. State of Tennessee Treasury Department owned about 0.05% of Mid-America Apartment Communities worth $6,339,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MAA. Bronfman E.L. Rothschild L.P. lifted its position in Mid-America Apartment Communities by 32.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 382 shares in the last quarter. Commerce Bank bought a new position in Mid-America Apartment Communities in the 2nd quarter valued at about $223,000. Parametrica Management Ltd bought a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $236,000. BB&T Securities LLC bought a new position in Mid-America Apartment Communities in the 2nd quarter valued at about $237,000. Finally, MAI Capital Management bought a new position in Mid-America Apartment Communities in the 2nd quarter valued at about $247,000. 92.34% of the stock is currently owned by institutional investors.

Several brokerages recently weighed in on MAA. BidaskClub raised shares of Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. JMP Securities lowered shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 19th. Mizuho reiterated a “hold” rating and issued a $106.00 price objective on shares of Mid-America Apartment Communities in a research note on Sunday, October 15th. ValuEngine lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $112.00 price objective on shares of Mid-America Apartment Communities in a research note on Wednesday, August 9th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $110.33.

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In other Mid-America Apartment Communities news, Director William Reid Sanders acquired 7,000 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average cost of $100.11 per share, for a total transaction of $700,770.00. Following the purchase, the director now owns 8,209 shares of the company’s stock, valued at $821,802.99. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Stockert sold 6,872 shares of Mid-America Apartment Communities stock in a transaction that occurred 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 completion of the transaction, the director now owns 77,180 shares of the company’s stock, valued at $8,207,321.20. The disclosure for this sale can be found here. Company insiders own 1.25% of the company’s stock.

Shares of Mid-America Apartment Communities, Inc. (MAA) opened at $106.03 on Tuesday. Mid-America Apartment Communities, Inc. has a one year low of $87.59 and a one year high of $110.95. The stock has a market cap of $11,984.24, a P/E ratio of 17.76, a PEG ratio of 2.55 and a beta of 0.35.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.61. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The company had revenue of $384.60 million during the quarter, compared to analyst estimates of $386.96 million. During the same quarter last year, the business posted $1.47 EPS. Mid-America Apartment Communities’s quarterly revenue was up 38.9% compared to the same quarter last year. analysts forecast that Mid-America Apartment Communities, Inc. will post 5.91 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $3.48 annualized dividend and a dividend yield of 3.28%. Mid-America Apartment Communities’s payout ratio is currently 156.76%.

Mid-America Apartment Communities 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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