Contravisory Investment Management Inc. Invests $577,000 in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Contravisory Investment Management Inc. bought a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,445 shares of the real estate investment trust's stock, valued at approximately $577,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Spire Wealth Management purchased a new position in shares of Mid-America Apartment Communities in the fourth quarter valued at about $158,000. CENTRAL TRUST Co boosted its position in shares of Mid-America Apartment Communities by 60.0% during the fourth quarter. CENTRAL TRUST Co now owns 4,216 shares of the real estate investment trust's stock valued at $652,000 after purchasing an additional 1,581 shares in the last quarter. Alliance Wealth Advisors LLC UT raised its holdings in Mid-America Apartment Communities by 2.6% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 22,531 shares of the real estate investment trust's stock worth $3,483,000 after purchasing an additional 562 shares in the last quarter. Columbus Macro LLC raised its holdings in Mid-America Apartment Communities by 441.2% in the fourth quarter. Columbus Macro LLC now owns 45,085 shares of the real estate investment trust's stock worth $6,969,000 after purchasing an additional 36,755 shares in the last quarter. Finally, Greenwood Capital Associates LLC increased its stake in shares of Mid-America Apartment Communities by 1.4% in the 4th quarter. Greenwood Capital Associates LLC now owns 51,826 shares of the real estate investment trust's stock worth $8,011,000 after acquiring an additional 692 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on MAA. Raymond James cut shares of Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and dropped their price target for the stock from $185.00 to $175.00 in a research note on Thursday, May 15th. Barclays raised their target price on Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Truist Financial reduced their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Scotiabank lifted their target price on Mid-America Apartment Communities from $182.00 to $194.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. Finally, Robert W. Baird lifted their price target on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Mid-America Apartment Communities has an average rating of "Hold" and a consensus target price of $169.50.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock traded down $2.16 during mid-day trading on Thursday, reaching $149.70. 974,114 shares of the company's stock traded hands, compared to its average volume of 754,344. Mid-America Apartment Communities, Inc. has a 12-month low of $135.01 and a 12-month high of $173.38. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $158.44 and a two-hundred day moving average of $158.04. The company has a market cap of $17.52 billion, a price-to-earnings ratio of 33.42, a PEG ratio of 3.72 and a beta of 0.80.

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 the consensus estimate of $2.16 by $0.04. The firm had revenue of $549.30 million for the quarter, compared to analysts' expectations of $551.21 million. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The business's revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.22 EPS. Equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is 126.25%.

Insider Buying and Selling

In related news, EVP Amber Fairbanks sold 173 shares of the business'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 owns 3,012 shares in the company, valued at approximately $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO H Eric Bolton, Jr. sold 4,358 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total value of $724,473.92. Following the completion of the transaction, the chief executive officer now directly owns 324,171 shares in the company, valued at approximately $53,890,187.04. This trade represents a 1.33% 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. 1.20% of the stock is owned by company insiders.

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.