Westpac Banking Corp cut its stake in Mid-America Apartment Communities Inc (NYSE:MAA) by 3.5% in the fourth quarter, Holdings Channel reports. The fund owned 59,592 shares of the real estate investment trust’s stock after selling 2,174 shares during the quarter. Westpac Banking Corp’s holdings in Mid-America Apartment Communities were worth $5,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its position in Mid-America Apartment Communities by 15.8% in the third quarter. JPMorgan Chase & Co. now owns 2,862,188 shares of the real estate investment trust’s stock valued at $303,363,000 after acquiring an additional 391,336 shares during the last quarter. Cohen & Steers Inc. lifted its position in Mid-America Apartment Communities by 197.0% in the third quarter. Cohen & Steers Inc. now owns 2,025,767 shares of the real estate investment trust’s stock valued at $216,514,000 after acquiring an additional 1,343,626 shares during the last quarter. Cbre Clarion Securities LLC lifted its position in Mid-America Apartment Communities by 3.1% in the second quarter. Cbre Clarion Securities LLC now owns 1,934,644 shares of the real estate investment trust’s stock valued at $203,873,000 after acquiring an additional 58,353 shares during the last quarter. Renaissance Technologies LLC lifted its position in Mid-America Apartment Communities by 31.5% in the second quarter. Renaissance Technologies LLC now owns 1,884,990 shares of the real estate investment trust’s stock valued at $198,640,000 after acquiring an additional 451,849 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Mid-America Apartment Communities by 1.7% in the second quarter. Northern Trust Corp now owns 1,775,830 shares of the real estate investment trust’s stock valued at $187,136,000 after acquiring an additional 29,526 shares during the last quarter. 92.78% of the stock is owned by hedge funds and other institutional investors.

In other news, Director William Reid Sanders purchased 7,000 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were acquired at an average cost of $100.11 per share, for a total transaction of $700,770.00. Following the completion of the purchase, the director now directly owns 8,209 shares in the company, valued at approximately $821,802.99. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have bought 7,116 shares of company stock worth $710,687. Company insiders own 1.25% of the company’s stock.

Shares of Mid-America Apartment Communities Inc (NYSE:MAA) opened at $92.52 on Friday. Mid-America Apartment Communities Inc has a 1-year low of $90.88 and a 1-year high of $110.95. The company has a market cap of $10,512.77, a PE ratio of 15.58, a PEG ratio of 2.14 and a beta of 0.34.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $384.60 million during the quarter, compared to analysts’ expectations of $386.96 million. During the same period in the prior year, the company earned $1.47 earnings per share. The business’s revenue was up 38.9% compared to the same quarter last year. analysts predict that Mid-America Apartment Communities Inc will post 5.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be paid a dividend of $0.9225 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 3.99%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Thursday, January 11th. Mid-America Apartment Communities’s payout ratio is 166.22%.

A number of equities research analysts recently weighed in on MAA shares. ValuEngine cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Mizuho reissued a “hold” rating and issued a $106.00 price target on shares of Mid-America Apartment Communities in a research report on Sunday, October 15th. JMP Securities cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 19th. Stifel Nicolaus reduced their price target on shares of Mid-America Apartment Communities from $113.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, October 27th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $109.00 target price on shares of Mid-America Apartment Communities in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $110.50.

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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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