Mirae Asset Global Investments Co. Ltd. Acquires 32,415 Shares of Mid-America Apartment Communities, Inc. $MAA

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,415 shares of the real estate investment trust’s stock, valued at approximately $3,817,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. acquired a new position in Mid-America Apartment Communities during the 2nd quarter worth about $1,820,661,000. Dimensional Fund Advisors LP increased its stake in shares of Mid-America Apartment Communities by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,772,445 shares of the real estate investment trust’s stock valued at $216,450,000 after buying an additional 63,519 shares during the period. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Mid-America Apartment Communities in the second quarter valued at about $175,377,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Mid-America Apartment Communities by 15,892.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,221,025 shares of the real estate investment trust’s stock worth $169,649,000 after acquiring an additional 1,213,390 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in shares of Mid-America Apartment Communities during the second quarter worth about $155,052,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Adrian Hill acquired 844 shares of the firm’s stock in a transaction dated Friday, October 30th. The stock was purchased at an average price of $118.35 per share, for a total transaction of $99,887.40. Following the completion of the acquisition, the executive vice president directly owned 65,277 shares in the company, valued at $7,725,532.95. The trade was a 1.31% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Mid-America Apartment Communities Stock Down 2.1%

MAA traded down $2.51 during midday trading on Friday, hitting $119.18. The company had a trading volume of 1,290,357 shares, compared to its average volume of 973,638. The stock’s 50 day moving average price is $120.21 and its 200 day moving average price is $128.78. Mid-America Apartment Communities, Inc. has a 52 week low of $113.95 and a 52 week high of $144.41. The company has a market capitalization of $13.82 billion, a price-to-earnings ratio of 36.11 and a beta of 0.71. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.08.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 28th. The real estate investment trust reported $0.72 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.38). Mid-America Apartment Communities had a net margin of 17.43% and a return on equity of 6.89%. The firm had revenue of $560.13 million during the quarter, compared to analyst estimates of $558.07 million. During the same quarter in the prior year, the business earned $2.16 earnings per share. The business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.50 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were paid a $1.53 dividend. This represents a $6.12 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Thursday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 185.45%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. KeyCorp reiterated an “overweight” rating on shares of Mid-America Apartment Communities in a report on Tuesday, September 29th. Barclays dropped their price objective on Mid-America Apartment Communities from $146.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 14th. Morgan Stanley cut their target price on Mid-America Apartment Communities from $155.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 12th. Wall Street Zen cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Sunday, October 25th. Finally, BNP Paribas Exane upgraded Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus price target of $138.06.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc (NYSE: MAA) is a real estate investment trust that owns, operates and develops multifamily apartment communities. Its portfolio is focused primarily on conventional apartment housing, with properties offering a range of floor plans and amenities designed for individual renters, couples and families.

MAA concentrates its operations in high-growth markets across the Sun Belt, including communities in the Southeast, Southwest and Mid-Atlantic regions of the United States.