Robeco Institutional Asset Management B.V. bought a new position in Mid-America Apartment Communities Inc (NYSE:MAA) during the third quarter, HoldingsChannel reports. The fund bought 3,523 shares of the real estate investment trust’s stock, valued at approximately $353,000.
Other hedge funds also recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new position in shares of Mid-America Apartment Communities during the second quarter valued at approximately $134,000. First Hawaiian Bank purchased a new stake in Mid-America Apartment Communities during the third quarter valued at approximately $171,000. Bridgeworth LLC purchased a new stake in Mid-America Apartment Communities during the second quarter valued at approximately $180,000. BB&T Securities LLC purchased a new stake in Mid-America Apartment Communities during the second quarter valued at approximately $201,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new stake in Mid-America Apartment Communities during the second quarter valued at approximately $209,000. Institutional investors and hedge funds own 92.61% of the company’s stock.
NYSE MAA opened at $100.79 on Monday. The firm has a market capitalization of $11.47 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 2.38 and a beta of 0.25. Mid-America Apartment Communities Inc has a 12-month low of $85.16 and a 12-month high of $104.98. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.17 and a quick ratio of 0.17.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($1.04). The company had revenue of $397.10 million during the quarter, compared to analysts’ expectations of $393.76 million. Mid-America Apartment Communities had a return on equity of 4.36% and a net margin of 18.20%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 EPS. As a group, equities analysts anticipate that Mid-America Apartment Communities Inc will post 6.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Investors of record on Monday, October 15th were issued a dividend of $0.9225 per share. The ex-dividend date of this dividend was Friday, October 12th. This represents a $3.69 annualized dividend and a dividend yield of 3.66%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 62.12%.
MAA has been the subject of a number of analyst reports. Capital One Financial initiated coverage on shares of Mid-America Apartment Communities in a research report on Monday, October 22nd. They set an “equal weight” rating and a $101.50 target price for the company. Citigroup set a $105.00 target price on shares of Mid-America Apartment Communities and gave the company a “hold” rating in a research report on Monday, November 5th. Barclays reissued a “buy” rating and set a $110.00 target price on shares of Mid-America Apartment Communities in a research report on Sunday, October 14th. Stifel Nicolaus cut 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 report on Thursday, August 2nd. Finally, Robert W. Baird reissued a “buy” rating and set a $105.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, August 16th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $102.59.
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About Mid-America Apartment Communities
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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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