Renaissance Technologies LLC lowered its position in Mid-America Apartment Communities Inc (NYSE:MAA) by 6.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,441,341 shares of the real estate investment trust’s stock after selling 92,700 shares during the period. Renaissance Technologies LLC’s holdings in Mid-America Apartment Communities were worth $144,394,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at $120,000. Piedmont Investment Advisors LLC bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at $134,000. First Hawaiian Bank bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at $171,000. Bridgeworth LLC bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at $180,000. Finally, BB&T Securities LLC bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at $201,000. Institutional investors and hedge funds own 92.73% of the company’s stock.
MAA has been the subject of a number of research reports. Barclays reiterated a “buy” rating on shares of Mid-America Apartment Communities in a report on Wednesday, November 28th. Capital One Financial initiated coverage on Mid-America Apartment Communities in a 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 Mid-America Apartment Communities and gave the stock a “hold” rating in a report on Monday, November 5th. Robert W. Baird reiterated a “buy” rating and set a $105.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, August 16th. Finally, Scotiabank initiated coverage on Mid-America Apartment Communities in a report on Tuesday, October 16th. They set a “sector perform” rating for the company. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $102.59.
Shares of NYSE MAA opened at $102.99 on Friday. The stock has a market capitalization of $11.50 billion, a PE ratio of 17.34, a P/E/G ratio of 2.39 and a beta of 0.31. 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 Inc has a fifty-two week low of $85.16 and a fifty-two week high of $104.98.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($1.04). The company had revenue of $397.10 million during the quarter, compared to the consensus estimate of $393.76 million. Mid-America Apartment Communities had a net margin of 18.20% and a return on equity of 4.36%. Mid-America Apartment Communities’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 EPS. As a group, sell-side analysts forecast that Mid-America Apartment Communities Inc will post 6.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Tuesday, January 15th will be issued a $0.96 dividend. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.92. The ex-dividend date is Monday, January 14th. This represents a $3.84 annualized dividend and a dividend yield of 3.73%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 62.12%.
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Mid-America Apartment Communities Company 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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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