Cleararc Capital Inc. Acquires Shares of 1,923 Mid-America Apartment Communities Inc (NYSE:MAA)

Cleararc Capital Inc. acquired a new position in shares of Mid-America Apartment Communities Inc (NYSE:MAA) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,923 shares of the real estate investment trust’s stock, valued at approximately $210,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System increased its position in shares of Mid-America Apartment Communities by 0.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 161,609 shares of the real estate investment trust’s stock worth $17,669,000 after buying an additional 1,270 shares during the period. Kentucky Retirement Systems acquired a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth $474,000. Crawford Investment Counsel Inc. increased its position in shares of Mid-America Apartment Communities by 1.6% during the first quarter. Crawford Investment Counsel Inc. now owns 103,052 shares of the real estate investment trust’s stock worth $11,267,000 after buying an additional 1,606 shares during the period. Duality Advisers LP acquired a new stake in shares of Mid-America Apartment Communities during the first quarter worth $616,000. Finally, Norges Bank acquired a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth $105,674,000. Institutional investors own 92.47% of the company’s stock.

In other Mid-America Apartment Communities news, Director Claude B. Nielsen sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were 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 of the company’s stock, valued at approximately $1,330,810.11. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is owned by insiders.

Shares of MAA traded down $0.30 during trading hours on Friday, hitting $120.70. The company’s stock had a trading volume of 410,265 shares, compared to its average volume of 539,187. The company has a market cap of $13.76 billion, a P/E ratio of 19.98, a price-to-earnings-growth ratio of 5.01 and a beta of 0.40. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.72. The company has a 50 day moving average price of $117.77. Mid-America Apartment Communities Inc has a 52-week low of $91.21 and a 52-week high of $123.88.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.55 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.95). Mid-America Apartment Communities had a net margin of 14.86% and a return on equity of 3.68%. The firm had revenue of $401.17 million for the quarter, compared to analysts’ expectations of $400.91 million. During the same period in the prior year, the firm posted $1.36 EPS. Mid-America Apartment Communities’s revenue was up 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Mid-America Apartment Communities Inc will post 6.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $3.84 dividend on an annualized basis and a yield of 3.18%. Mid-America Apartment Communities’s dividend payout ratio is presently 63.58%.

MAA has been the subject of a number of research reports. Janney Montgomery Scott cut shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $110.00 price target for the company. in a report on Wednesday, April 3rd. They noted that the move was a valuation call. Raymond James restated a “buy” rating on shares of Teck Resources in a report on Thursday, April 4th. Scotiabank lowered shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and dropped their price objective for the company from $114.00 to $107.00 in a research note on Tuesday. SunTrust Banks raised their price objective on shares of Mid-America Apartment Communities to $120.00 and gave the company a “positive” rating in a research note on Wednesday, June 19th. They noted that the move was a valuation call. Finally, Mizuho set a $27.00 price objective on shares of Horizon Therapeutics and gave the company a “hold” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. Mid-America Apartment Communities has a consensus rating of “Buy” and a consensus target price of $112.18.

Mid-America Apartment Communities Profile

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.

See Also: Intrinsic Value

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

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