Lansforsakringar Fondforvaltning AB publ Purchases New Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,873 shares of the real estate investment trust's stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MAA. CoreCap Advisors LLC increased its position in Mid-America Apartment Communities by 94.9% during the 4th quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 112 shares in the last quarter. IFP Advisors Inc increased its position in Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 68 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Mid-America Apartment Communities during the 4th quarter worth about $46,000. Catalyst Capital Advisors LLC increased its position in Mid-America Apartment Communities by 57.8% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock worth $56,000 after purchasing an additional 133 shares in the last quarter. Finally, Sandy Spring Bank grew its holdings in Mid-America Apartment Communities by 25.2% in the 4th quarter. Sandy Spring Bank now owns 447 shares of the real estate investment trust's stock valued at $69,000 after buying an additional 90 shares during the period. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Down 2.0%

Mid-America Apartment Communities stock traded down $3.11 during midday trading on Tuesday, hitting $152.56. 1,252,782 shares of the company were exchanged, compared to its average volume of 752,764. The company's fifty day moving average price is $158.72 and its 200-day moving average price is $158.08. The company has a market cap of $17.86 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 3.72 and a beta of 0.80. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. Mid-America Apartment Communities, Inc. has a fifty-two week low of $133.99 and a fifty-two week high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The company had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. During the same period in the prior year, the company posted $2.22 EPS. Mid-America Apartment Communities's quarterly revenue was up 1.0% on a year-over-year basis. On average, research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities's payout ratio is 126.25%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Raymond James cut Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $185.00 to $175.00 in a report on Thursday, May 15th. Jefferies Financial Group upgraded Mid-America Apartment Communities from a "hold" rating to a "buy" rating and lifted their price target for the company from $148.00 to $190.00 in a report on Monday, March 10th. Robert W. Baird lifted their price target on Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Truist Financial lowered their price target on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Finally, Royal Bank of Canada lifted their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a "sector perform" rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $169.50.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, EVP Amber Fairbanks sold 173 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the sale, the executive vice president now directly owns 3,012 shares of the company's stock, valued at approximately $502,552.20. This represents a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the sale, the chief executive officer now directly owns 319,813 shares in the company, valued at approximately $47,949,563.09. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,313 shares of company stock valued at $1,171,707 in the last three months. Corporate insiders own 1.20% of the company's stock.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.