Mid-America Apartment Communities, Inc. $MAA Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group increased its MAA stake by 340.9% in the third quarter, adding about 1.35 million shares to own 1.74 million shares—roughly 1.5% of the REIT, valued at about $205 million.
• MAA reported quarterly EPS of $0.72, below the $2.10 consensus estimate, while revenue of $560.1 million slightly exceeded expectations and rose 1% year over year.
• Analysts’ consensus rating was Hold, with an average price target of $136.82. The company’s annualized dividend was $6.12 per share, a yield of about 5.2%.

Aberdeen Group plc boosted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 340.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,740,919 shares of the real estate investment trust's stock after acquiring an additional 1,346,062 shares during the period. Aberdeen Group plc owned approximately 1.50% of Mid-America Apartment Communities worth $204,976,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MAA. Allworth Financial LP lifted its position in Mid-America Apartment Communities by 0.3% in the 3rd quarter. Allworth Financial LP now owns 41,193 shares of the real estate investment trust's stock valued at $4,850,000 after acquiring an additional 110 shares in the last quarter. Eurizon Capital SGR S.p.A. raised its stake in shares of Mid-America Apartment Communities by 178.1% during the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 33,913 shares of the real estate investment trust's stock worth $3,993,000 after purchasing an additional 21,719 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Mid-America Apartment Communities by 2.2% in the 3rd quarter. Fifth Third Bancorp now owns 3,795 shares of the real estate investment trust's stock valued at $447,000 after buying an additional 83 shares during the last quarter. Aew Capital Management Inc. acquired a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at approximately $8,271,000. Finally, Maryland State Retirement & Pension System boosted its holdings in shares of Mid-America Apartment Communities by 24.5% in the 3rd quarter. Maryland State Retirement & Pension System now owns 7,593 shares of the real estate investment trust's stock valued at $894,000 after buying an additional 1,494 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Adrian Hill purchased 844 shares of the business's stock in a transaction dated Friday, October 30th. The stock was bought at an average price of $118.35 per share, for a total transaction of $99,887.40. Following the purchase, the executive vice president owned 65,277 shares of the company's stock, valued at $7,725,532.95. The trade was a 1.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company's stock.

Mid-America Apartment Communities Stock Up 1.2%

Mid-America Apartment Communities stock opened at $117.90 on Friday. Mid-America Apartment Communities, Inc. has a fifty-two week low of $113.95 and a fifty-two week high of $144.41. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.11 and a current ratio of 0.11. The firm's 50-day simple moving average is $119.13 and its 200 day simple moving average is $128.36. The stock has a market cap of $13.68 billion, a PE ratio of 35.73 and a beta of 0.71.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $560.13 million during the quarter, compared to analysts' expectations of $558.07 million. Mid-America Apartment Communities had a net margin of 17.43% and a return on equity of 6.89%. The company's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $2.16 EPS. Research analysts predict that Mid-America Apartment Communities, Inc. will post 8.50 EPS 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. Investors of record on Thursday, October 15th were paid a $1.53 dividend. The ex-dividend date was Thursday, October 15th. This represents a $6.12 annualized dividend and a yield of 5.2%. Mid-America Apartment Communities's dividend payout ratio is presently 185.45%.

Analyst Ratings Changes

A number of equities analysts recently commented on MAA shares. Scotiabank reduced their price target on Mid-America Apartment Communities from $134.00 to $125.00 and set a "sector underperform" rating for the company in a report on Thursday, September 17th. Royal Bank Of Canada decreased their price objective on shares of Mid-America Apartment Communities from $138.00 to $127.00 and set a "sector perform" rating on the stock in a report on Tuesday, October 13th. BNP Paribas Exane upgraded Mid-America Apartment Communities from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Barclays decreased their target price on Mid-America Apartment Communities from $146.00 to $136.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 14th. Finally, Citigroup reissued a "market outperform" rating on shares of Mid-America Apartment Communities in a research report on Friday, October 30th. Seven equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell 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 $136.82.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc. (MAA) is a real estate investment trust that owns, operates, acquires and develops apartment communities. Its properties offer rental housing and related resident services and amenities. The company focuses primarily on markets across the southeastern and southwestern United States, as well as select Mid-Atlantic locations. Its portfolio includes communities in urban and suburban areas. Headquartered in Germantown, Tennessee, MAA has been led by President and Chief Executive Officer H. Eric Bolton Jr. since 2001.

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