Rhumbline Advisers raised its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 220,543 shares of the real estate investment trust’s stock after buying an additional 2,425 shares during the period. Rhumbline Advisers’ holdings in Mid-America Apartment Communities were worth $23,241,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Macquarie Group Ltd. raised its position in shares of Mid-America Apartment Communities by 88.8% in the fourth quarter. Macquarie Group Ltd. now owns 59,012 shares of the real estate investment trust’s stock valued at $5,778,000 after buying an additional 27,752 shares during the period. Creative Planning raised its position in shares of Mid-America Apartment Communities by 50.7% in the first quarter. Creative Planning now owns 1,715 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 577 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Mid-America Apartment Communities by 1.4% in the first quarter. Gulf International Bank UK Ltd now owns 35,090 shares of the real estate investment trust’s stock valued at $3,570,000 after buying an additional 500 shares during the period. National Pension Service acquired a new position in shares of Mid-America Apartment Communities during the first quarter valued at about $11,301,000. Finally, Capstone Asset Management Co. raised its position in shares of Mid-America Apartment Communities by 8.6% in the first quarter. Capstone Asset Management Co. now owns 11,729 shares of the real estate investment trust’s stock valued at $1,193,000 after buying an additional 929 shares during the period. 92.35% of the stock is currently owned by institutional investors.

Shares of Mid-America Apartment Communities, Inc. (NYSE MAA) opened at 107.10 on Wednesday. The firm has a market capitalization of $12.17 billion, a P/E ratio of 49.51 and a beta of 0.35. The firm’s 50-day moving average is $103.19 and its 200 day moving average is $101.92. Mid-America Apartment Communities, Inc. has a one year low of $85.04 and a one year high of $110.95.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.03. The business had revenue of $382.80 million for the quarter, compared to analysts’ expectations of $382.17 million. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. The firm’s revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.54 earnings per share. Equities research analysts predict that Mid-America Apartment Communities, Inc. will post $1.69 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Wednesday, July 12th. Mid-America Apartment Communities’s payout ratio is 148.72%.

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MAA has been the topic of several recent research reports. Barclays PLC reaffirmed an “overweight” rating and issued a $117.00 target price (up previously from $116.00) on shares of Mid-America Apartment Communities in a research note on Wednesday, April 19th. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Mid-America Apartment Communities in a research note on Thursday, April 27th. BidaskClub raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. UBS AG lowered 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 research note on Thursday, July 6th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Mid-America Apartment Communities in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $108.83.

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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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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