Consolidated Planning Corp Takes Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Consolidated Planning Corp acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,078 shares of the real estate investment trust's stock, valued at approximately $851,000.

Other hedge funds have also modified their holdings of the company. CoreCap Advisors LLC increased its holdings in shares of Mid-America Apartment Communities by 94.9% in the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 112 shares during the period. IFP Advisors Inc increased its holdings in shares of Mid-America Apartment Communities by 37.2% in the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 68 shares during the period. GoalVest Advisory LLC increased its holdings in shares of Mid-America Apartment Communities by 200.0% in the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 160 shares during the period. Headlands Technologies LLC acquired a new position in shares of Mid-America Apartment Communities in the fourth quarter valued at about $46,000. Finally, NBC Securities Inc. acquired a new position in shares of Mid-America Apartment Communities in the first quarter valued at about $46,000. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $148.41 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.11 and a current ratio of 0.11. Mid-America Apartment Communities, Inc. has a one year low of $137.51 and a one year high of $173.38. The firm has a market cap of $17.37 billion, a PE ratio of 30.92, a PEG ratio of 3.80 and a beta of 0.78. The firm has a fifty day moving average of $156.48 and a 200 day moving average of $157.04.

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, topping the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. The company had revenue of $549.30 million for the quarter, compared to analysts' expectations of $551.21 million. During the same quarter in the previous year, the company posted $2.22 EPS. The firm's quarterly revenue was up 1.0% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a $1.515 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 dividend on an annualized basis and a yield of 4.08%. Mid-America Apartment Communities's payout ratio is 126.25%.

Insiders Place Their Bets

In other 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 value of $28,865.05. Following the completion of the sale, the executive vice president now directly owns 3,012 shares in the company, valued at $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of Mid-America Apartment Communities stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the transaction, the chief executive officer now owns 319,813 shares in the company, valued at approximately $47,949,563.09. The trade was a 0.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,313 shares of company stock valued at $1,171,707 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MAA has been the topic of a number of recent research reports. Truist Financial lowered their target price on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Wall Street Zen raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Raymond James Financial downgraded shares of Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and lowered their price target for the stock from $185.00 to $175.00 in a report on Thursday, May 15th. JMP Securities lifted their price objective on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a report on Thursday, May 22nd. Finally, Jefferies Financial Group raised shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and increased their target price for the stock from $148.00 to $190.00 in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of "Hold" and a consensus target price of $169.76.

Mid-America Apartment Communities Profile

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.

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