Advisors Asset Management Inc. Sells 5,394 Shares of Mid-America Apartment Communities Inc (MAA)

Advisors Asset Management Inc. reduced its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 43.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,056 shares of the real estate investment trust’s stock after selling 5,394 shares during the quarter. Advisors Asset Management Inc.’s holdings in Mid-America Apartment Communities were worth $710,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Cbre Clarion Securities LLC grew its stake in shares of Mid-America Apartment Communities by 490.5% in the second quarter. Cbre Clarion Securities LLC now owns 1,670,247 shares of the real estate investment trust’s stock worth $168,144,000 after purchasing an additional 1,387,389 shares during the last quarter. Brookfield Asset Management Inc. grew its stake in shares of Mid-America Apartment Communities by 68.4% in 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 during the last quarter. Millennium Management LLC grew its stake in shares of Mid-America Apartment Communities by 134.1% in the first quarter. Millennium Management LLC now owns 1,317,675 shares of the real estate investment trust’s stock worth $120,225,000 after purchasing an additional 754,755 shares during the last quarter. Centersquare Investment Management LLC bought a new stake in shares of Mid-America Apartment Communities in the second quarter worth about $74,941,000. Finally, AMP Capital Investors Ltd grew its stake in shares of Mid-America Apartment Communities by 494.9% in 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 purchasing an additional 514,981 shares during the last quarter. 93.02% of the stock is currently owned by hedge funds and other institutional investors.

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 transaction, the director now directly owns 17,770 shares in the company, valued at $1,789,261.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, 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. Insiders own 1.26% of the company’s stock.

Several research firms recently issued reports on MAA. Robert W. Baird reissued a “buy” rating and issued a $105.00 target price on shares of Mid-America Apartment Communities in a research note on Thursday, August 16th. SunTrust Banks reissued a “buy” rating and issued a $105.00 target price on shares of Mid-America Apartment Communities in a research note on Thursday, August 9th. Stifel Nicolaus cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Thursday, August 2nd. Finally, ValuEngine raised Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Wednesday, June 27th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $103.40.

Mid-America Apartment Communities stock opened at $98.24 on Monday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.70. The company has a market cap of $11.40 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 2.37 and a beta of 0.28. Mid-America Apartment Communities Inc has a fifty-two week low of $85.16 and a fifty-two week high of $110.24.

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

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders 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 annualized dividend and a yield of 3.76%. Mid-America Apartment Communities’s payout ratio is 62.12%.

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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