1,651 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Purchased by Cornerstone Advisory LLC

Cornerstone Advisory LLC purchased a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,651 shares of the real estate investment trust's stock, valued at approximately $259,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAA. Capital World Investors increased its stake in shares of Mid-America Apartment Communities by 45.9% in the 4th quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock worth $1,025,868,000 after acquiring an additional 2,088,143 shares in the last quarter. Norges Bank purchased a new position in shares of Mid-America Apartment Communities during the 4th quarter worth $826,562,000. JPMorgan Chase & Co. increased its stake in shares of Mid-America Apartment Communities by 26.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust's stock worth $517,015,000 after purchasing an additional 708,125 shares in the last quarter. Geode Capital Management LLC raised its holdings in Mid-America Apartment Communities by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust's stock worth $492,421,000 after purchasing an additional 52,050 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Mid-America Apartment Communities by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,656,669 shares of the real estate investment trust's stock valued at $410,641,000 after purchasing an additional 40,436 shares during the period. Hedge funds and other institutional investors own 93.60% of the company's stock.

Insiders Place Their Bets

In other news, EVP Amber Fairbanks sold 173 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the transaction, the executive vice president now directly owns 3,012 shares of the company's stock, 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 filing with the SEC, which can be accessed through the SEC website. 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 stock was sold at an average price of $149.93, for a total transaction of $396,264.99. Following the sale, the chief executive officer now owns 319,813 shares in the company, valued at $47,949,563.09. The trade was a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,313 shares of company stock valued at $1,171,707 over the last ninety days. Company insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of recent research reports. Raymond James downgraded Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and cut their price objective for the company from $185.00 to $175.00 in a research note on Thursday, May 15th. Robert W. Baird upped their target price on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Barclays boosted their price target on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Truist Financial decreased 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 report on Wednesday, May 21st. Finally, Jefferies Financial Group raised Mid-America Apartment Communities from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $148.00 to $190.00 in a research note on Monday, March 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $169.50.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA traded down $0.09 during trading on Wednesday, reaching $154.14. The stock had a trading volume of 225,746 shares, compared to its average volume of 746,335. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. Mid-America Apartment Communities, Inc. has a 1-year low of $126.77 and a 1-year high of $173.38. The stock has a market cap of $18.04 billion, a PE ratio of 34.42, a PEG ratio of 3.72 and a beta of 0.80. The business has a fifty day moving average price of $159.56 and a 200-day moving average price of $158.23.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $0.04. The business had revenue of $549.30 million during 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 company's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.22 earnings per share. On average, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 126.25%.

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.