United Services Automobile Association decreased its holdings in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 43.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,036 shares of the real estate investment trust’s stock after selling 41,170 shares during the period. United Services Automobile Association’s holdings in Mid-America Apartment Communities were worth $5,440,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. RVB Capital Management LLC acquired a new stake in shares of Mid-America Apartment Communities during the second quarter worth about $4,027,000. Centersquare Investment Management LLC acquired a new stake in shares of Mid-America Apartment Communities during the second quarter worth about $74,941,000. Pettee Investors Inc. boosted its stake in shares of Mid-America Apartment Communities by 12.9% during the second quarter. Pettee Investors Inc. now owns 8,352 shares of the real estate investment trust’s stock worth $841,000 after buying an additional 955 shares during the period. AMP Capital Investors Ltd boosted its stake in shares of Mid-America Apartment Communities by 494.9% during the second quarter. AMP Capital Investors Ltd now owns 619,040 shares of the real estate investment trust’s stock worth $62,320,000 after buying an additional 514,981 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in shares of Mid-America Apartment Communities during the second quarter worth about $2,099,000. Institutional investors and hedge funds own 93.02% of the company’s stock.

In other news, Director Russell R. French sold 4,993 shares of Mid-America Apartment Communities stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $100.69, for a total transaction of $502,745.17. Following the completion of the sale, the director now directly owns 17,770 shares in the company, valued at approximately $1,789,261.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David P. Stockert sold 1,617 shares of Mid-America Apartment Communities stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $101.59, for a total transaction of $164,271.03. Following the sale, the director now owns 75,563 shares of the company’s stock, valued at $7,676,445.17. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

Shares of NYSE:MAA opened at $94.61 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.15 and a quick ratio of 0.15. The stock has a market capitalization of $11.40 billion, a P/E ratio of 16.09, a PEG ratio of 2.37 and a beta of 0.28. Mid-America Apartment Communities Inc has a 52 week low of $85.16 and a 52 week high of $110.24.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $1.48 by ($1.00). The firm had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.62 million. Mid-America Apartment Communities had a net margin of 22.36% and a return on equity of 5.28%. Mid-America Apartment Communities’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 EPS. On average, sell-side analysts anticipate that Mid-America Apartment Communities Inc will post 6.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th will be given a dividend of $0.9225 per share. The ex-dividend date is Friday, October 12th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 3.90%. Mid-America Apartment Communities’s payout ratio is 62.12%.

MAA has been the subject of several recent research reports. Stifel Nicolaus downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Thursday, August 2nd. SunTrust Banks raised their price objective on shares of Mid-America Apartment Communities to $102.00 and gave the company a “buy” rating in a research report on Wednesday, June 27th. Robert W. Baird restated a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, August 16th. Finally, ValuEngine upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $103.40.

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.

Further Reading: Buyback

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

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