Renaissance Technologies LLC decreased its stake in Mid-America Apartment Communities Inc (NYSE:MAA) by 31.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,534,041 shares of the real estate investment trust’s stock after selling 696,449 shares during the period. Renaissance Technologies LLC owned approximately 1.35% of Mid-America Apartment Communities worth $154,432,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Federated Investors Inc. PA raised its position in shares of Mid-America Apartment Communities by 3,870.2% during the 1st quarter. Federated Investors Inc. PA now owns 2,263 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 2,206 shares during the period. Conning Inc. acquired a new position in shares of Mid-America Apartment Communities during the 2nd quarter valued at $233,000. JPMorgan Chase & Co. increased its position in shares of Mid-America Apartment Communities by 64.8% during the 1st quarter. JPMorgan Chase & Co. now owns 4,848,217 shares of the real estate investment trust’s stock valued at $442,351,000 after purchasing an additional 1,906,796 shares during the period. Real Estate Management Services LLC acquired a new position in shares of Mid-America Apartment Communities during the 2nd quarter valued at $2,899,000. Finally, Montag A & Associates Inc. acquired a new position in shares of Mid-America Apartment Communities during the 2nd quarter valued at $213,000. 92.71% of the stock is owned by hedge funds and other institutional investors.
MAA opened at $103.51 on Thursday. The firm has a market cap of $11.79 billion, a PE ratio of 17.29, a P/E/G ratio of 2.45 and a beta of 0.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.15 and a quick ratio of 0.15. 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 issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.48 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($1.00). The business had revenue of $390.10 million during the quarter, compared to analyst estimates of $389.62 million. Mid-America Apartment Communities had a return on equity of 5.28% and a net margin of 22.36%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the business earned $1.48 EPS. equities research analysts forecast that Mid-America Apartment Communities Inc will post 6.04 earnings per share for the current fiscal year.
In related news, Director David P. Stockert sold 1,617 shares of the stock in a transaction on Monday, August 6th. The stock was sold at an average price of $101.59, for a total transaction of $164,271.03. Following the completion of the sale, the director now directly owns 75,563 shares in the company, valued at $7,676,445.17. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Russell R. French sold 4,993 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $100.69, for a total value of $502,745.17. Following the sale, the director now owns 17,770 shares of the company’s stock, valued at $1,789,261.30. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.
Several equities analysts have recently issued reports on MAA shares. BTIG Research cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating in a research report on Thursday, May 31st. Stifel Nicolaus cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research report on Thursday, August 2nd. ValuEngine upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. Robert W. Baird reiterated 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. Finally, SunTrust Banks lifted their price target on Mid-America Apartment Communities to $102.00 and gave the company a “buy” rating in a research report on Wednesday, June 27th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Mid-America Apartment Communities currently has an average rating of “Hold” and a consensus price target of $104.55.
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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