Mid-America Apartment Communities Inc (MAA) Holdings Reduced by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC lowered its position in Mid-America Apartment Communities Inc (NYSE:MAA) by 14.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 419,748 shares of the real estate investment trust’s stock after selling 71,036 shares during the quarter. TIAA CREF Investment Management LLC owned 0.37% of Mid-America Apartment Communities worth $42,210,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Group One Trading L.P. acquired a new position in Mid-America Apartment Communities in the 3rd quarter worth $209,000. IFM Investors Pty Ltd acquired a new position in Mid-America Apartment Communities in the 3rd quarter worth $217,000. Two Sigma Securities LLC acquired a new position in Mid-America Apartment Communities in the 4th quarter worth $208,000. Independent Advisor Alliance acquired a new position in Mid-America Apartment Communities in the 3rd quarter worth $227,000. Finally, Conning Inc. acquired a new position in Mid-America Apartment Communities in the 4th quarter worth $211,000. Hedge funds and other institutional investors own 94.67% of the company’s stock.
In other Mid-America Apartment Communities news, Director Gary Shorb acquired 500 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average price of $86.53 per share, with a total value of $43,265.00. Following the transaction, the director now directly owns 4,750 shares in the company, valued at $411,017.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Claude B. Nielsen sold 7,200 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $86.44, for a total transaction of $622,368.00. Following the sale, the director now directly owns 20,417 shares of the company’s stock, valued at approximately $1,764,845.48. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 4,716 shares of company stock valued at $426,200. Insiders own 1.25% of the company’s stock.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.40). Mid-America Apartment Communities had a net margin of 21.42% and a return on equity of 4.99%. The business had revenue of $382.74 million for the quarter, compared to the consensus estimate of $386.33 million. sell-side analysts predict that Mid-America Apartment Communities Inc will post 6.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, April 13th will be given a dividend of $0.9225 per share. This represents a $3.69 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Thursday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is presently 129.02%.
A number of equities research analysts have recently issued reports on MAA shares. Zacks Investment Research lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. Stifel Nicolaus upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Friday, January 19th. They noted that the move was a valuation call. Raymond James Financial restated a “market perform” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, November 29th. Jefferies Group restated a “hold” rating and issued a $99.00 target price on shares of Mid-America Apartment Communities in a research note on Monday, February 5th. Finally, ValuEngine lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $104.62.
About Mid-America Apartment Communities
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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