Fox Run Management L.L.C. Sells 5,663 Shares of Mid-America Apartment Communities Inc (MAA)

Fox Run Management L.L.C. lowered its position in Mid-America Apartment Communities Inc (NYSE:MAA) by 70.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,389 shares of the real estate investment trust’s stock after selling 5,663 shares during the period. Fox Run Management L.L.C.’s holdings in Mid-America Apartment Communities were worth $241,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. increased its position in shares of Mid-America Apartment Communities by 64.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,848,217 shares of the real estate investment trust’s stock valued at $442,351,000 after acquiring an additional 1,906,796 shares during the period. Brookfield Asset Management Inc. boosted its holdings in Mid-America Apartment Communities by 68.4% in the first quarter. Brookfield Asset Management Inc. now owns 2,613,278 shares of the real estate investment trust’s stock valued at $238,435,000 after purchasing an additional 1,061,000 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in Mid-America Apartment Communities by 31.3% in the first quarter. OppenheimerFunds Inc. now owns 2,451,735 shares of the real estate investment trust’s stock valued at $223,698,000 after purchasing an additional 584,929 shares during the last quarter. Northern Trust Corp boosted its holdings in Mid-America Apartment Communities by 2.5% in the first quarter. Northern Trust Corp now owns 1,880,697 shares of the real estate investment trust’s stock valued at $171,596,000 after purchasing an additional 46,341 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Mid-America Apartment Communities by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,743,118 shares of the real estate investment trust’s stock valued at $159,041,000 after purchasing an additional 57,791 shares during the last quarter. 91.80% of the stock is owned by hedge funds and other institutional investors.

Shares of Mid-America Apartment Communities opened at $99.85 on Friday, according to Marketbeat Ratings. The company has a market cap of $11.44 billion, a PE ratio of 16.81, a PEG ratio of 2.38 and a beta of 0.35. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.15 and a quick ratio of 0.15. Mid-America Apartment Communities Inc has a 1 year low of $85.16 and a 1 year high of $110.24.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.48 by ($1.00). The firm had revenue of $390.10 million for the quarter, compared to analyst estimates of $389.62 million. Mid-America Apartment Communities had a return on equity of 5.28% and a net margin of 22.36%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 EPS. sell-side analysts expect that Mid-America Apartment Communities Inc will post 6.03 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 31st. Investors of record on Friday, July 13th were issued a $0.9225 dividend. The ex-dividend date was Thursday, July 12th. This represents a $3.69 annualized dividend and a yield of 3.70%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 62.12%.

In related news, Director William Reid Sanders bought 2,800 shares of the company’s stock in a transaction that occurred on Monday, May 21st. The stock was purchased at an average price of $87.92 per share, for a total transaction of $246,176.00. Following the acquisition, the director now owns 15,109 shares of the company’s stock, valued at $1,328,383.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director David P. Stockert sold 1,617 shares of Mid-America Apartment Communities stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $101.59, for a total transaction of $164,271.03. Following the completion of the sale, the director now owns 75,563 shares of the company’s stock, valued at approximately $7,676,445.17. The disclosure for this sale can be found here. 1.26% of the stock is currently owned by company insiders.

MAA has been the topic of several recent research reports. Barclays reaffirmed a “buy” rating and issued a $112.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, April 17th. Zacks Investment Research raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. ValuEngine lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. BTIG Research lowered shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating in a research note on Thursday, May 31st. Finally, SunTrust Banks increased their target price on shares of Mid-America Apartment Communities to $102.00 and gave the stock a “buy” rating in a research note on Wednesday, June 27th. Ten investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $104.09.

Mid-America Apartment Communities Company 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 throughout the United States. As of March 31, 2018, MAA had ownership interest in 100,490 apartment units, including communities currently in development, across 17 states and the District of Columbia.

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

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