Mid-America Apartment Communities Inc (MAA) Shares Bought by OppenheimerFunds Inc.

Share on StockTwits

OppenheimerFunds Inc. boosted its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 3.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,524,935 shares of the real estate investment trust’s stock after buying an additional 73,200 shares during the quarter. OppenheimerFunds Inc. owned 2.22% of Mid-America Apartment Communities worth $254,185,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MAA. Global X Management Co. LLC boosted its stake in Mid-America Apartment Communities by 19.2% during the first quarter. Global X Management Co. LLC now owns 3,900 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 629 shares during the period. Rhumbline Advisers boosted its stake in Mid-America Apartment Communities by 1.5% during the first quarter. Rhumbline Advisers now owns 230,799 shares of the real estate investment trust’s stock worth $21,058,000 after buying an additional 3,478 shares during the period. Dupont Capital Management Corp lifted its position in shares of Mid-America Apartment Communities by 11.2% during the first quarter. Dupont Capital Management Corp now owns 21,736 shares of the real estate investment trust’s stock worth $1,983,000 after purchasing an additional 2,197 shares in the last quarter. Comerica Bank lifted its position in shares of Mid-America Apartment Communities by 49.9% during the first quarter. Comerica Bank now owns 53,931 shares of the real estate investment trust’s stock worth $4,871,000 after purchasing an additional 17,946 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Mid-America Apartment Communities by 6.9% during the first quarter. SG Americas Securities LLC now owns 40,586 shares of the real estate investment trust’s stock worth $3,703,000 after purchasing an additional 2,615 shares in the last quarter. 92.71% of the stock is owned by institutional investors.

Several brokerages have recently issued reports on MAA. Robert W. Baird reissued a “buy” rating and set a $105.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, August 16th. SunTrust Banks reaffirmed a “buy” rating and issued a $105.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, August 9th. Stifel Nicolaus cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a report on Thursday, August 2nd. ValuEngine raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. Finally, BTIG Research cut shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating in a report on Thursday, May 31st. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $104.55.

In other Mid-America Apartment Communities news, Director Russell R. French sold 4,993 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $100.69, for a total value of $502,745.17. Following the transaction, the director now directly owns 17,770 shares in the company, valued at $1,789,261.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Stockert sold 1,617 shares of the 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 completion of the transaction, the director now owns 75,563 shares in the company, valued at $7,676,445.17. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company’s stock.

Shares of NYSE:MAA opened at $103.51 on Thursday. The company has a market capitalization of $11.79 billion, a P/E ratio of 17.43, a PEG ratio of 2.45 and a beta of 0.27. Mid-America Apartment Communities Inc has a fifty-two week low of $85.16 and a fifty-two week high of $110.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.15 and a current ratio of 0.15.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results 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 during the quarter, compared to analyst estimates of $389.62 million. Mid-America Apartment Communities had a net margin of 22.36% and a return on equity of 5.28%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. analysts predict that Mid-America Apartment Communities Inc will post 6.04 earnings per share for the current fiscal year.

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.

See Also: Leveraged Buyout (LBO) Explained

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

Receive News & Ratings for Mid-America Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply