Diamond Hill Capital Management Inc. Has $57.08 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Diamond Hill Capital Management Inc. decreased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 6.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 541,626 shares of the real estate investment trust’s stock after selling 34,466 shares during the period. Diamond Hill Capital Management Inc. owned about 0.48% of Mid-America Apartment Communities worth $57,077,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Mid-America Apartment Communities by 2.0% in the first quarter. Vanguard Group Inc. now owns 19,723,897 shares of the real estate investment trust’s stock valued at $2,006,709,000 after buying an additional 391,852 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Mid-America Apartment Communities by 2,003.1% in the first quarter. BlackRock Inc. now owns 10,265,099 shares of the real estate investment trust’s stock valued at $1,044,371,000 after buying an additional 9,777,008 shares during the last quarter. State Street Corp boosted its stake in shares of Mid-America Apartment Communities by 2.0% in the first quarter. State Street Corp now owns 6,727,050 shares of the real estate investment trust’s stock valued at $684,403,000 after buying an additional 134,757 shares during the last quarter. APG Asset Management US Inc. boosted its stake in shares of Mid-America Apartment Communities by 7.7% in the second quarter. APG Asset Management US Inc. now owns 3,639,414 shares of the real estate investment trust’s stock valued at $383,521,000 after buying an additional 260,897 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Mid-America Apartment Communities by 6.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,656,631 shares of the real estate investment trust’s stock valued at $168,545,000 after buying an additional 104,406 shares during the last quarter. 92.35% of the stock is owned by institutional investors.

Mid-America Apartment Communities, Inc. (MAA) opened at 105.77 on Friday. The stock has a market cap of $12.02 billion, a PE ratio of 48.90 and a beta of 0.35. Mid-America Apartment Communities, Inc. has a one year low of $85.04 and a one year high of $110.95. The company’s 50 day moving average is $103.20 and its 200 day moving average is $102.07.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.03. The company 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 business’s revenue for the quarter was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.54 EPS. On average, equities research analysts expect that Mid-America Apartment Communities, Inc. will post $1.69 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 14th were issued a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $3.48 annualized dividend and a yield of 3.29%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 148.72%.

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MAA has been the topic of several recent research reports. BidaskClub raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Royal Bank Of Canada restated a “buy” rating on shares of Mid-America Apartment Communities in a research note on Thursday, April 27th. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research note on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating and set a $115.00 price objective on shares of Mid-America Apartment Communities in a research note on Monday, July 10th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $105.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $108.27.

Mid-America Apartment Communities Company Profile

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.

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

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