State of Alaska Department of Revenue lowered its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 13.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,694 shares of the real estate investment trust’s stock after selling 9,578 shares during the period. State of Alaska Department of Revenue owned about 0.05% of Mid-America Apartment Communities worth $6,079,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Mid-America Apartment Communities by 0.5% during the second quarter. BlackRock Inc. now owns 11,025,469 shares of the real estate investment trust’s stock worth $1,109,933,000 after purchasing an additional 58,754 shares in the last quarter. Brookfield Asset Management Inc. increased its stake in shares of Mid-America Apartment Communities by 68.4% during the first quarter. Brookfield Asset Management Inc. now owns 2,613,278 shares of the real estate investment trust’s stock worth $238,435,000 after purchasing an additional 1,061,000 shares in the last quarter. OppenheimerFunds Inc. increased its stake in shares of Mid-America Apartment Communities by 3.0% during the second quarter. OppenheimerFunds Inc. now owns 2,524,935 shares of the real estate investment trust’s stock worth $254,185,000 after purchasing an additional 73,200 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Mid-America Apartment Communities by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,764,302 shares of the real estate investment trust’s stock worth $177,615,000 after purchasing an additional 21,184 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Mid-America Apartment Communities by 7.9% during the first quarter. Royal Bank of Canada now owns 1,705,670 shares of the real estate investment trust’s stock worth $155,625,000 after purchasing an additional 125,483 shares in the last quarter. 93.02% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE MAA opened at $94.61 on Friday. Mid-America Apartment Communities Inc has a 12-month low of $85.16 and a 12-month high of $110.24. The stock has a market cap of $11.40 billion, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 2.37 and a beta of 0.28. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.15 and a quick ratio of 0.15.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($1.00). Mid-America Apartment Communities had a net margin of 22.36% and a return on equity of 5.28%. The business had revenue of $390.10 million for the quarter, compared to analysts’ expectations of $389.62 million. During the same period in the prior year, the company posted $1.48 EPS. The firm’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts forecast that Mid-America Apartment Communities Inc will post 6.05 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th will be issued a $0.9225 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.69 annualized dividend and a yield of 3.90%. Mid-America Apartment Communities’s payout ratio is 62.12%.

A number of analysts have recently commented on the stock. ValuEngine raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. SunTrust Banks reaffirmed a “buy” rating and set a $105.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, August 9th. Robert W. Baird reaffirmed a “buy” rating and set a $105.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, August 16th. Finally, Stifel Nicolaus cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Thursday, August 2nd. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $103.40.

In other Mid-America Apartment Communities news, Director Russell R. French sold 4,993 shares of the business’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $100.69, for a total value of $502,745.17. Following the transaction, the director now directly owns 17,770 shares in the company, valued at approximately $1,789,261.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Stockert sold 1,617 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $101.59, for a total transaction of $164,271.03. Following the completion of the transaction, the director now owns 75,563 shares in the company, valued at $7,676,445.17. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.

Mid-America Apartment Communities Profile

MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities throughout the United States. As of June 30, 2018, MAA had ownership interest in 101,362 apartment units, including communities currently in development, across 17 states and the District of Columbia.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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