Today: The Mid-America Apartment Communities Inc. (MAA) Stake Increased by BlackRock Advisors LLC

The Mid-America Apartment Communities Inc. (MAA) Stake Increased by BlackRock Advisors LLC

BlackRock Advisors LLC boosted its stake in Mid-America Apartment Communities Inc. (NYSE:MAA) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 91,369 shares of the real estate investment trust’s stock after buying an additional 2,729 shares during the period. BlackRock Advisors LLC owned approximately 0.12% of Mid-America Apartment Communities worth $9,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAA. Bank of Montreal Can bought a new position in Mid-America Apartment Communities during the second quarter valued at $13,838,000. Renaissance Technologies LLC boosted its position in Mid-America Apartment Communities by 19.3% in the first quarter. Renaissance Technologies LLC now owns 775,000 shares of the real estate investment trust’s stock valued at $79,213,000 after buying an additional 125,638 shares during the last quarter. Panagora Asset Management Inc. boosted its position in Mid-America Apartment Communities by 64.1% in the first quarter. Panagora Asset Management Inc. now owns 250,679 shares of the real estate investment trust’s stock valued at $25,622,000 after buying an additional 97,923 shares during the last quarter. Royal Bank of Canada boosted its position in Mid-America Apartment Communities by 8.3% in the first quarter. Royal Bank of Canada now owns 748,813 shares of the real estate investment trust’s stock valued at $76,536,000 after buying an additional 57,231 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Mid-America Apartment Communities by 20.7% in the first quarter. Legal & General Group Plc now owns 189,382 shares of the real estate investment trust’s stock valued at $19,356,000 after buying an additional 32,523 shares during the last quarter. 96.86% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Inc. (NYSE:MAA) opened at 86.01 on Friday. The company has a market cap of $6.50 billion, a price-to-earnings ratio of 29.07 and a beta of 0.33. Mid-America Apartment Communities Inc. has a 12 month low of $81.72 and a 12 month high of $110.01. The company’s 50 day moving average is $93.74 and its 200-day moving average is $99.70.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.08. Mid-America Apartment Communities had a net margin of 20.93% and a return on equity of 7.10%. The company earned $272.20 million during the quarter, compared to analyst estimates of $272.71 million. During the same period last year, the firm posted $1.36 EPS. Mid-America Apartment Communities’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts expect that Mid-America Apartment Communities Inc. will post $5.92 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Wednesday, October 12th. Mid-America Apartment Communities’s dividend payout ratio is presently 111.56%.

A number of analysts have commented on the stock. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $119.00 target price for the company in a report on Friday, July 15th. BTIG Research assumed coverage on shares of Mid-America Apartment Communities in a report on Thursday, August 25th. They set a “neutral” rating for the company. Jefferies Group cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and reduced their target price for the company from $115.00 to $109.00 in a report on Wednesday, August 10th. SunTrust Banks Inc. raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $108.00 target price for the company in a report on Friday, August 19th. Finally, Citigroup Inc. upped their target price on shares of Mid-America Apartment Communities from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, August 8th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $103.25.

Mid-America Apartment Communities Company Profile

Related posts

Leave a Comment