Spirit Of America Management Corpny Lowers stake in Mid-America Apartment Communities Inc (MAA)

Mid-America Apartment Communities Inc (MAA) : Spirit Of America Management Corpny reduced its stake in Mid-America Apartment Communities Inc by 8.46% during the most recent quarter end. The investment management company now holds a total of 38,422 shares of Mid-America Apartment Communities Inc which is valued at $3,419,558 after selling 3,550 shares in Mid-America Apartment Communities Inc , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Mid-America Apartment Communities Inc makes up approximately 0.45% of Spirit Of America Management Corpny’s portfolio.

Other Hedge Funds, Including , Murphy Pohlad Asset Management sold out all of its stake in MAA during the most recent quarter. The investment firm sold 2,050 shares of MAA which is valued $182,225.West Oak Capital boosted its stake in MAA in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 2,790 shares of Mid-America Apartment Communities Inc which is valued at $244,655. Mid-America Apartment Communities Inc makes up approx 0.17% of West Oak Capital’s portfolio.

Mid-America Apartment Communities Inc opened for trading at $89.02 and hit $89.43 on the upside on Friday, eventually ending the session at $89, with a gain of 0.12% or 0.11 points. The heightened volatility saw the trading volume jump to 7,45,423 shares. Company has a market cap of $6,723 M.

On the company’s financial health, Mid-America Apartment Communities Inc reported $1.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.47. The company had revenue of $272.20 million for the quarter, compared to analysts expectations of $272.82 million. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 EPS.

Many Wall Street Analysts have commented on Mid-America Apartment Communities Inc. Mid-America Apartment Communities Inc was Upgraded by SunTrust to ” Buy” on Aug 19, 2016.

Mid-America Apartment Communities Inc. is a multifamily focused self-administered and self-managed Real Estate Investment Trust (REIT). The Company is the general partner of Mid-America Apartments L.P. The Company owns operates acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. The Company’s segments include large market same store communities secondary market same store communities and non-same store communities and other. As of December 31 2014 the Company’s activities include full or partial ownership and operation of 268 multi-family properties and three commercial properties located in Alabama Arizona Arkansas Florida Georgia Kentucky Louisiana Mississippi Missouri Nevada North Carolina South Carolina Tennessee Texas and Virginia.

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