Narwhal Capital Management Sells 1,120 Shares of Mid-America Apartment Communities Inc (NYSE:MAA)

Narwhal Capital Management lessened its stake in Mid-America Apartment Communities Inc (NYSE:MAA) by 21.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,200 shares of the real estate investment trust’s stock after selling 1,120 shares during the quarter. Narwhal Capital Management’s holdings in Mid-America Apartment Communities were worth $495,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. JJJ Advisors Inc. bought a new position in shares of Mid-America Apartment Communities in the second quarter valued at approximately $31,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Mid-America Apartment Communities during the second quarter valued at approximately $44,000. Zions Bancorporation N.A. increased its position in shares of Mid-America Apartment Communities by 733.0% during the first quarter. Zions Bancorporation N.A. now owns 783 shares of the real estate investment trust’s stock valued at $86,000 after acquiring an additional 689 shares during the last quarter. Welch Group LLC purchased a new stake in shares of Mid-America Apartment Communities during the first quarter valued at approximately $143,000. Finally, Starr International Co. Inc. purchased a new stake in shares of Mid-America Apartment Communities during the first quarter valued at approximately $148,000. Institutional investors own 92.45% of the company’s stock.

NYSE:MAA traded up $0.70 during trading hours on Friday, reaching $123.78. The stock had a trading volume of 436,262 shares, compared to its average volume of 621,919. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.72. The stock has a 50 day moving average of $119.95. Mid-America Apartment Communities Inc has a 12-month low of $91.21 and a 12-month high of $123.90. The firm has a market capitalization of $14.04 billion, a PE ratio of 20.49, a P/E/G ratio of 5.05 and a beta of 0.39.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were given a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Friday, July 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 63.58%.

In other Mid-America Apartment Communities news, Director David P. Stockert sold 2,047 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $120.84, for a total value of $247,359.48. Following the completion of the sale, the director now directly owns 65,240 shares of the company’s stock, valued at $7,883,601.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.

A number of brokerages recently commented on MAA. Mizuho raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Wednesday, May 8th. SunTrust Banks increased their price target on Mid-America Apartment Communities to $120.00 and gave the company a “positive” rating in a research report on Wednesday, June 19th. They noted that the move was a valuation call. Scotiabank downgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the company from $114.00 to $107.00 in a research report on Tuesday, July 9th. ValuEngine raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Finally, Zacks Investment Research raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $113.12.

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

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