Ingalls & Snyder LLC Has $263,000 Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Ingalls & Snyder LLC held its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,500 shares of the real estate investment trust’s stock at the end of the second quarter. Ingalls & Snyder LLC’s holdings in Mid-America Apartment Communities were worth $263,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. First Manhattan Co. boosted its stake in shares of Mid-America Apartment Communities by 2.4% in the first quarter. First Manhattan Co. now owns 54,660 shares of the real estate investment trust’s stock valued at $5,137,000 after buying an additional 1,300 shares during the last quarter. Gilman Hill Asset Management LLC boosted its stake in shares of Mid-America Apartment Communities by 6.2% in the first quarter. Gilman Hill Asset Management LLC now owns 5,233 shares of the real estate investment trust’s stock valued at $532,000 after buying an additional 305 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in shares of Mid-America Apartment Communities by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 89 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Mid-America Apartment Communities by 114.6% in the first quarter. Nationwide Fund Advisors now owns 245,115 shares of the real estate investment trust’s stock valued at $24,938,000 after buying an additional 130,895 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its stake in shares of Mid-America Apartment Communities by 2.0% in the first quarter. Retirement Systems of Alabama now owns 54,886 shares of the real estate investment trust’s stock valued at $5,584,000 after buying an additional 1,078 shares during the last quarter. Institutional investors and hedge funds own 92.35% of the company’s stock.

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) traded down 0.70% during midday trading on Friday, reaching $105.77. The company’s stock had a trading volume of 507,633 shares. The company has a market cap of $12.02 billion, a PE ratio of 48.90 and a beta of 0.35. The company’s 50-day moving average price is $103.20 and its 200-day moving average price is $102.07. Mid-America Apartment Communities, Inc. has a 12 month low of $85.04 and a 12 month high of $110.95.

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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.03. The company had revenue of $382.80 million for the quarter, compared to analyst estimates of $382.17 million. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 EPS. On average, equities analysts anticipate that Mid-America Apartment Communities, Inc. will post $1.69 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were issued a $0.87 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.29%. Mid-America Apartment Communities’s payout ratio is 148.72%.

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

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.

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

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