Assetmark Inc. Acquires 5,910 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Assetmark Inc. boosted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 22,730.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,936 shares of the real estate investment trust's stock after acquiring an additional 5,910 shares during the quarter. Assetmark Inc.'s holdings in Mid-America Apartment Communities were worth $943,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Empowered Funds LLC acquired a new stake in Mid-America Apartment Communities during the 1st quarter valued at $232,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Mid-America Apartment Communities by 397.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 62,537 shares of the real estate investment trust's stock worth $8,229,000 after buying an additional 49,962 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Mid-America Apartment Communities by 5.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 147,815 shares of the real estate investment trust's stock valued at $19,449,000 after buying an additional 7,141 shares during the last quarter. Intech Investment Management LLC bought a new position in Mid-America Apartment Communities in the 1st quarter valued at about $270,000. Finally, Ontario Teachers Pension Plan Board lifted its position in Mid-America Apartment Communities by 57.3% during the first quarter. Ontario Teachers Pension Plan Board now owns 30,361 shares of the real estate investment trust's stock worth $3,995,000 after acquiring an additional 11,056 shares during the last quarter. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Trading Up 0.5 %

Mid-America Apartment Communities stock traded up $0.72 during mid-day trading on Friday, hitting $158.09. 553,097 shares of the stock were exchanged, compared to its average volume of 752,468. The stock has a market capitalization of $18.48 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 2.60 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 12 month low of $120.32 and a 12 month high of $167.39. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The firm's fifty day simple moving average is $157.27 and its two-hundred day simple moving average is $148.15.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same period last year, the business posted $2.29 earnings per share. The business's revenue was up 1.7% on a year-over-year basis. Analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.72%. Mid-America Apartment Communities's dividend payout ratio is presently 132.73%.

Analyst Ratings Changes

MAA has been the subject of a number of recent research reports. Wedbush boosted their target price on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a "buy" rating and a $187.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price target on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a "hold" rating in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada dropped their price objective on Mid-America Apartment Communities from $169.00 to $165.00 and set a "sector perform" rating for the company in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities has an average rating of "Hold" and a consensus price target of $161.64.

Mid-America Apartment Communities Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.