Russell Investments Group Ltd. Raises Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Key Points

• Russell Investments Group Ltd. increased its stake in Mid-America Apartment Communities by 59.7%, acquiring an additional 272,030 shares for a total of 727,670 shares worth approximately $121.7 million.
• Mid-America Apartment Communities reported $2.15 EPS for the last quarter, exceeding analysts' expectations by $0.01 and showing a net margin of 25.98%.
• The company announced a quarterly dividend of $1.515 per share, which translates to an annualized yield of 4.4% and a payout ratio of 124.69%.

Russell Investments Group Ltd. raised its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 59.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 727,670 shares of the real estate investment trust's stock after acquiring an additional 272,030 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.62% of Mid-America Apartment Communities worth $121,734,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MAA. Resona Asset Management Co. Ltd. increased its position in Mid-America Apartment Communities by 6.5% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 69,225 shares of the real estate investment trust's stock valued at $11,514,000 after buying an additional 4,204 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Mid-America Apartment Communities by 1.2% during the first quarter. HighTower Advisors LLC now owns 101,622 shares of the real estate investment trust's stock valued at $17,030,000 after acquiring an additional 1,183 shares in the last quarter. Sustainable Insight Capital Management LLC purchased a new position in shares of Mid-America Apartment Communities in the 1st quarter worth about $436,000. Public Sector Pension Investment Board raised its position in shares of Mid-America Apartment Communities by 3.2% in the 1st quarter. Public Sector Pension Investment Board now owns 31,245 shares of the real estate investment trust's stock worth $5,236,000 after purchasing an additional 964 shares during the last quarter. Finally, Nuveen LLC bought a new position in Mid-America Apartment Communities in the 1st quarter worth about $150,966,000. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA traded up $0.85 during midday trading on Friday, hitting $140.88. The company had a trading volume of 927,467 shares, compared to its average volume of 907,478. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market cap of $16.49 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 3.74 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 12-month low of $137.32 and a 12-month high of $173.38. The company has a fifty day moving average of $147.87 and a two-hundred day moving average of $155.51.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, topping the consensus estimate of $2.14 by $0.01. The firm had revenue of $549.90 million during the quarter, compared to analyst estimates of $552.19 million. Mid-America Apartment Communities had a return on equity of 9.35% and a net margin of 25.98%. Mid-America Apartment Communities's revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $2.22 EPS. On average, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were paid a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio is presently 124.69%.

Analyst Ratings Changes

Several research analysts have issued reports on MAA shares. Robert W. Baird lifted their target price on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Mizuho upgraded shares of Mid-America Apartment Communities from a "neutral" rating to an "outperform" rating and cut their price target for the company from $161.00 to $150.00 in a report on Thursday. Raymond James Financial cut Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. Royal Bank Of Canada lowered their price objective on Mid-America Apartment Communities from $158.00 to $155.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Finally, KeyCorp dropped their price objective on Mid-America Apartment Communities from $180.00 to $170.00 and set an "overweight" rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of "Hold" and an average target price of $163.21.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.