Kelman Lazarov Inc. Sells 1,050 Shares of Mid-America Apartment Communities Inc (NYSE:MAA)
Kelman Lazarov Inc. trimmed its position in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 11.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 8,037 shares of the real estate investment trust’s stock after selling 1,050 shares during the quarter. Kelman Lazarov Inc.’s holdings in Mid-America Apartment Communities were worth $946,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of MAA. First Citizens Bank & Trust Co. grew its stake in shares of Mid-America Apartment Communities by 0.5% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 25,861 shares of the real estate investment trust’s stock valued at $3,045,000 after purchasing an additional 128 shares during the period. Anchor Capital Advisors LLC raised its stake in Mid-America Apartment Communities by 1.0% during the 1st quarter. Anchor Capital Advisors LLC now owns 13,402 shares of the real estate investment trust’s stock worth $1,465,000 after buying an additional 130 shares during the period. Clean Yield Group raised its stake in Mid-America Apartment Communities by 0.5% during the 1st quarter. Clean Yield Group now owns 27,065 shares of the real estate investment trust’s stock worth $2,959,000 after buying an additional 140 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in Mid-America Apartment Communities by 0.9% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 17,306 shares of the real estate investment trust’s stock worth $1,892,000 after buying an additional 151 shares during the period. Finally, West Oak Capital LLC raised its stake in Mid-America Apartment Communities by 7.1% during the 1st quarter. West Oak Capital LLC now owns 2,400 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 160 shares during the period. Hedge funds and other institutional investors own 92.65% of the company’s stock.
Several brokerages recently commented on MAA. Royal Bank of Canada set a €475.00 ($552.33) price objective on Rational and gave the stock a “sell” rating in a research note on Monday, May 20th. SunTrust Banks increased their target price on Mid-America Apartment Communities to $120.00 and gave the stock a “positive” rating in a report on Wednesday, June 19th. They noted that the move was a valuation call. KeyCorp increased their target price on Terreno Realty from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Zacks Investment Research cut Hanger from a “hold” rating to a “sell” rating in a report on Tuesday, May 28th. Finally, Mizuho set a $27.00 target price on Horizon Therapeutics and gave the stock a “hold” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $112.18.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.95). The company had revenue of $401.17 million during the quarter, compared to the consensus estimate of $400.91 million. Mid-America Apartment Communities had a net margin of 14.86% and a return on equity of 3.68%. Mid-America Apartment Communities’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 EPS. On average, sell-side analysts forecast that Mid-America Apartment Communities Inc will post 6.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, July 12th. Mid-America Apartment Communities’s payout ratio is 63.58%.
In other news, Director Claude B. Nielsen sold 6,500 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $109.83, for a total value of $713,895.00. Following the completion of the transaction, the director now owns 12,117 shares in the company, valued at approximately $1,330,810.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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