Mid-America Apartment Communities, Inc. (MAA) Shares Bought by Alliancebernstein L.P.
Alliancebernstein L.P. increased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 90.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,406,670 shares of the real estate investment trust’s stock after purchasing an additional 1,144,768 shares during the quarter. Alliancebernstein L.P. owned approximately 2.12% of Mid-America Apartment Communities worth $253,615,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Mid-America Apartment Communities by 32.9% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 382 shares during the period. Commerce Bank bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $223,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at about $217,000. BB&T Securities LLC bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $237,000. Finally, MAI Capital Management bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $247,000. 91.83% of the stock is currently owned by institutional investors.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 6,872 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total value of $730,768.48. Following the transaction, the director now directly owns 77,180 shares in the company, valued at $8,207,321.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.25% of the stock is owned by insiders.
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A number of equities research analysts have recently issued reports on MAA shares. BidaskClub raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. UBS AG cut shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 target price on the stock. in a report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Mid-America Apartment Communities in a report on Monday, July 10th. Zacks Investment Research raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a report on Wednesday, July 12th. Finally, Barclays PLC dropped their target price on shares of Mid-America Apartment Communities from $117.00 to $116.00 and set an “overweight” rating on the stock in a report on Tuesday, July 18th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $109.33.
Mid-America Apartment Communities, Inc. (MAA) traded up 0.85% on Friday, reaching $107.94. 845,630 shares of the company’s stock traded hands. The company’s 50 day moving average is $105.21 and its 200-day moving average is $102.98. Mid-America Apartment Communities, Inc. has a 52-week low of $85.04 and a 52-week high of $110.95. The stock has a market cap of $12.26 billion, a price-to-earnings ratio of 49.90 and a beta of 0.35.
Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.03. The firm had revenue of $382.80 million for the quarter, compared to analysts’ expectations of $382.17 million. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The company’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 earnings per share. Equities analysts expect that Mid-America Apartment Communities, Inc. will post $1.69 EPS for the current year.
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.
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