Mid-America Apartment Communities Inc (NYSE:MAA) Sees Large Decline in Short Interest

Mid-America Apartment Communities Inc (NYSE:MAA) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 1,410,000 shares, a decrease of 8.4% from the August 15th total of 1,540,000 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 541,200 shares, the short-interest ratio is currently 2.6 days.

MAA has been the topic of several analyst reports. Capital One Financial reiterated an “equal weight” rating on shares of Mid-America Apartment Communities in a research report on Monday, September 16th. KeyCorp upped their price target on Mid-America Apartment Communities from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Scotiabank cut Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the company from $114.00 to $107.00 in a research report on Tuesday, July 9th. Barclays upped their price target on Mid-America Apartment Communities from $127.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, SunTrust Banks upped their price target on Mid-America Apartment Communities to $130.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Mid-America Apartment Communities currently has an average rating of “Buy” and a consensus target price of $116.54.

Shares of NYSE MAA traded down $0.32 during midday trading on Monday, hitting $130.01. 614,698 shares of the company’s stock were exchanged, compared to its average volume of 525,525. Mid-America Apartment Communities has a 12-month low of $91.21 and a 12-month high of $131.06. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.72. The company has a market cap of $14.86 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 5.31 and a beta of 0.36. The business’s fifty day moving average price is $126.80 and its two-hundred day moving average price is $117.16.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Friday, October 11th. Mid-America Apartment Communities’s payout ratio is 63.58%.

In other news, Director David P. Stockert sold 2,047 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $120.84, for a total transaction of $247,359.48. Following the sale, the director now directly owns 65,240 shares in the company, valued at $7,883,601.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of MAA. Nuveen Asset Management LLC grew its holdings in shares of Mid-America Apartment Communities by 333.6% during the second quarter. Nuveen Asset Management LLC now owns 822,353 shares of the real estate investment trust’s stock worth $96,841,000 after purchasing an additional 632,686 shares in the last quarter. Centersquare Investment Management LLC grew its holdings in shares of Mid-America Apartment Communities by 157,752.2% during the second quarter. Centersquare Investment Management LLC now owns 353,589 shares of the real estate investment trust’s stock worth $41,639,000 after purchasing an additional 353,365 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Mid-America Apartment Communities by 1.9% during the second quarter. Vanguard Group Inc. now owns 18,881,481 shares of the real estate investment trust’s stock worth $2,223,484,000 after purchasing an additional 346,064 shares in the last quarter. Commonwealth Bank of Australia grew its holdings in shares of Mid-America Apartment Communities by 207,883.7% during the second quarter. Commonwealth Bank of Australia now owns 345,253 shares of the real estate investment trust’s stock worth $40,653,000 after purchasing an additional 345,087 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Mid-America Apartment Communities by 28.2% during the first quarter. FMR LLC now owns 1,352,227 shares of the real estate investment trust’s stock worth $147,839,000 after purchasing an additional 297,563 shares in the last quarter. 92.90% of the stock is owned by institutional investors.

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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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