Davis Selected Advisers Trims Position in Mid-America Apartment Communities Inc (NYSE:MAA)

Davis Selected Advisers lessened its position in Mid-America Apartment Communities Inc (NYSE:MAA) by 41.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 119,564 shares of the real estate investment trust’s stock after selling 84,701 shares during the quarter. Davis Selected Advisers owned about 0.11% of Mid-America Apartment Communities worth $12,779,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dupont Capital Management Corp lifted its holdings in Mid-America Apartment Communities by 46.0% during the 2nd quarter. Dupont Capital Management Corp now owns 14,660 shares of the real estate investment trust’s stock valued at $1,545,000 after purchasing an additional 4,621 shares during the last quarter. LMR Partners LLP bought a new position in Mid-America Apartment Communities during the 2nd quarter valued at about $917,000. Denver Investment Advisors LLC lifted its holdings in Mid-America Apartment Communities by 83.3% during the 2nd quarter. Denver Investment Advisors LLC now owns 22,466 shares of the real estate investment trust’s stock valued at $2,368,000 after purchasing an additional 10,210 shares during the last quarter. State of Wisconsin Investment Board lifted its holdings in Mid-America Apartment Communities by 29.6% during the 2nd quarter. State of Wisconsin Investment Board now owns 146,156 shares of the real estate investment trust’s stock valued at $15,402,000 after purchasing an additional 33,359 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Mid-America Apartment Communities by 243.8% in the second quarter. SG Americas Securities LLC now owns 51,652 shares of the real estate investment trust’s stock worth $5,443,000 after acquiring an additional 36,626 shares during the last quarter. Institutional investors own 92.70% of the company’s stock.

Shares of Mid-America Apartment Communities Inc (NYSE MAA) traded down $0.01 during trading on Friday, reaching $100.56. 462,276 shares of the company’s stock were exchanged, compared to its average volume of 644,718. Mid-America Apartment Communities Inc has a 12-month low of $92.50 and a 12-month high of $110.95. The firm has a market capitalization of $11,430.00, a P/E ratio of 45.30, a price-to-earnings-growth ratio of 2.43 and a beta of 0.34.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.61. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The company had revenue of $384.60 million for the quarter, compared to the consensus estimate of $386.96 million. During the same period last year, the company posted $1.47 EPS. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. analysts expect that Mid-America Apartment Communities Inc will post 5.92 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be issued a $0.9225 dividend. This represents a $3.69 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 156.76%.

In other Mid-America Apartment Communities news, Director William Reid Sanders acquired 7,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average price of $100.11 per share, for a total transaction of $700,770.00. Following the acquisition, the director now directly owns 8,209 shares in the company, valued at $821,802.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.25% of the stock is owned by company insiders.

A number of research firms recently weighed in on MAA. Cantor Fitzgerald restated a “buy” rating and set a $110.00 price objective on shares of Mid-America Apartment Communities in a report on Monday, November 13th. Robert W. Baird reiterated a “buy” rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a report on Friday, November 10th. Royal Bank of Canada restated a “buy” rating and set a $110.00 target price on shares of Mid-America Apartment Communities in a report on Friday, November 3rd. SunTrust Banks restated a “buy” rating and set a $109.00 target price on shares of Mid-America Apartment Communities in a report on Friday, November 3rd. Finally, Jefferies Group reaffirmed a “buy” rating and set a $120.00 price target on shares of Mid-America Apartment Communities in a research report on Sunday, September 10th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $110.50.

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Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.

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

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