Putnam FL Investment Management Co. Invests $7.57 Million in Mid-America Apartment Communities, Inc. (MAA) Stock
Putnam FL Investment Management Co. purchased a new position in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 70,844 shares of the real estate investment trust’s stock, valued at approximately $7,572,000. Putnam FL Investment Management Co. owned approximately 0.06% of Mid-America Apartment Communities as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also modified their holdings of MAA. Bronfman E.L. Rothschild L.P. boosted its holdings in Mid-America Apartment Communities by 32.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 382 shares in the last quarter. Commerce Bank acquired a new stake in Mid-America Apartment Communities in the second quarter worth about $223,000. Parametrica Management Ltd acquired a new stake in Mid-America Apartment Communities in the third quarter worth about $236,000. BB&T Securities LLC acquired a new stake in Mid-America Apartment Communities in the second quarter worth about $237,000. Finally, MAI Capital Management acquired a new stake in Mid-America Apartment Communities in the second quarter worth about $247,000. 92.34% of the stock is owned by institutional investors and hedge funds.
In other Mid-America Apartment Communities news, Director William Reid Sanders acquired 7,000 shares of the company’s stock in a transaction on Friday, October 27th. The shares were bought at an average cost of $100.11 per share, with a total value of $700,770.00. Following the completion of the acquisition, the director now owns 8,209 shares in the company, valued at $821,802.99. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Stockert sold 6,872 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total value of $730,768.48. Following the completion of the sale, the director now directly owns 77,180 shares in the company, valued at $8,207,321.20. The disclosure for this sale can be found here. 1.25% of the stock is currently owned by company insiders.
MAA has been the subject of several research analyst reports. BMO Capital Markets restated a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating and issued a $112.00 price objective on shares of Mid-America Apartment Communities in a research note on Wednesday, August 9th. BidaskClub upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Stifel Nicolaus initiated coverage on Mid-America Apartment Communities in a research note on Thursday, August 31st. They issued a “hold” rating and a $113.00 price objective for the company. Finally, BTIG Research upgraded Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 price objective for the company in a research note on Friday, September 8th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mid-America Apartment Communities presently has an average rating of “Buy” and a consensus target price of $110.33.
Shares of Mid-America Apartment Communities, Inc. (MAA) traded down $1.74 during mid-day trading on Thursday, reaching $102.20. The company had a trading volume of 973,500 shares, compared to its average volume of 676,352. The stock has a market capitalization of $11,810.39, a PE ratio of 17.50, a P/E/G ratio of 2.51 and a beta of 0.35. Mid-America Apartment Communities, Inc. has a 52 week low of $87.59 and a 52 week high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.61. The company had revenue of $384.60 million during the quarter, compared to analysts’ expectations of $386.96 million. Mid-America Apartment Communities had a return on equity of 4.22% and a net margin of 16.73%. Mid-America Apartment Communities’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period last year, the business earned $1.47 earnings per share. equities analysts predict that Mid-America Apartment Communities, Inc. will post 5.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th were issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 3.41%. The ex-dividend date of this dividend was Thursday, October 12th. Mid-America Apartment Communities’s payout ratio is currently 156.76%.
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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.
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