Mid-America Apartment Communities Inc (NYSE:MAA) Short Interest Up 11.7% in October

Mid-America Apartment Communities Inc (NYSE:MAA) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 1,720,000 shares, a growth of 11.7% from the September 30th total of 1,540,000 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 529,200 shares, the days-to-cover ratio is presently 3.3 days.

A number of equities research analysts recently weighed in on MAA shares. SunTrust Banks raised their price objective on Mid-America Apartment Communities to $130.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. KeyCorp raised their price objective on Mid-America Apartment Communities from $131.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Citigroup raised their price objective on Mid-America Apartment Communities from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. ValuEngine downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Goldman Sachs Group started coverage on Mid-America Apartment Communities in a research report on Friday, November 8th. They set a “neutral” rating and a $149.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Mid-America Apartment Communities presently has an average rating of “Buy” and an average price target of $126.75.

In other news, Director David P. Stockert sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $136.46, for a total transaction of $682,300.00. Following the transaction, the director now owns 68,778 shares of the company’s stock, valued at approximately $9,385,445.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Mitsubishi UFJ Trust & Banking Corp raised its stake in Mid-America Apartment Communities by 6.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 97,411 shares of the real estate investment trust’s stock valued at $11,331,000 after buying an additional 6,237 shares during the last quarter. Cutler Group LP raised its stake in shares of Mid-America Apartment Communities by 29.0% in the second quarter. Cutler Group LP now owns 1,333 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 300 shares during the last quarter. MML Investors Services LLC purchased a new position in shares of Mid-America Apartment Communities in the second quarter worth about $266,000. Hexavest Inc. purchased a new position in shares of Mid-America Apartment Communities in the second quarter worth about $24,133,000. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Mid-America Apartment Communities by 2.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 628,146 shares of the real estate investment trust’s stock worth $73,970,000 after purchasing an additional 14,448 shares during the last quarter. Institutional investors own 93.34% of the company’s stock.

MAA stock traded up $3.06 during trading on Wednesday, reaching $134.65. 708,863 shares of the company traded hands, compared to its average volume of 524,779. The business has a 50 day simple moving average of $133.74 and a 200 day simple moving average of $123.00. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.08 and a current ratio of 0.08. Mid-America Apartment Communities has a 12 month low of $91.21 and a 12 month high of $140.15. The company has a market capitalization of $15.28 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 5.31 and a beta of 0.33.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.87). Mid-America Apartment Communities had a net margin of 16.25% and a return on equity of 3.84%. The business had revenue of $415.63 million during the quarter, compared to analysts’ expectations of $411.16 million. During the same quarter last year, the business posted $1.50 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts forecast that Mid-America Apartment Communities will post 6.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Friday, October 11th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 63.58%.

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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