Fielder Capital Group LLC Buys 2,698 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Key Points

• Fielder Capital Group LLC increased its holdings in Mid-America Apartment Communities (NYSE: MAA) by 8.8%, now owning 33,455 shares worth approximately $5.61 million as of the latest quarter.
• A number of institutional investors have also increased their stakes in MAA, with total institutional ownership reaching 93.60% of the company's stock.
• Mid-America Apartment Communities declared a quarterly dividend of $1.515 per share, which reflects a 3.99% dividend yield, despite a payout ratio exceeding 100% at 126.25%.

Fielder Capital Group LLC raised its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,455 shares of the real estate investment trust's stock after purchasing an additional 2,698 shares during the quarter. Mid-America Apartment Communities makes up approximately 1.6% of Fielder Capital Group LLC's portfolio, making the stock its 15th largest holding. Fielder Capital Group LLC's holdings in Mid-America Apartment Communities were worth $5,606,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MAA. Capital World Investors lifted its holdings in shares of Mid-America Apartment Communities by 45.9% in the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock worth $1,025,868,000 after buying an additional 2,088,143 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Mid-America Apartment Communities by 26.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust's stock worth $517,015,000 after buying an additional 708,125 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Mid-America Apartment Communities by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust's stock worth $492,421,000 after buying an additional 52,050 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Mid-America Apartment Communities by 1.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,656,669 shares of the real estate investment trust's stock worth $410,641,000 after buying an additional 40,436 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Mid-America Apartment Communities by 33.3% in the fourth quarter. Northern Trust Corp now owns 1,863,408 shares of the real estate investment trust's stock worth $288,027,000 after buying an additional 465,414 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Trading Down 4.2%

NYSE:MAA traded down $6.18 during trading hours on Thursday, hitting $142.61. The company had a trading volume of 1,105,220 shares, compared to its average volume of 898,242. Mid-America Apartment Communities, Inc. has a 52 week low of $139.60 and a 52 week high of $173.38. The company has a market capitalization of $16.69 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 3.90 and a beta of 0.75. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a 50-day moving average price of $150.80 and a 200 day moving average price of $156.23.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.01. The firm had revenue of $549.90 million for the quarter, compared to analysts' expectations of $552.19 million. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. The company's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.22 EPS. On average, equities research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid 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 4.2%. Mid-America Apartment Communities's payout ratio is presently 126.25%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MAA. Wall Street Zen raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Robert W. Baird raised their target price on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. The Goldman Sachs Group downgraded shares of Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 target price on the stock. in a research note on Friday, July 11th. JMP Securities raised their target price on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a research note on Thursday, May 22nd. Finally, Scotiabank lowered their target price on shares of Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $168.81.

Insider Transactions at Mid-America Apartment Communities

In related news, EVP Amber Fairbanks sold 173 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $166.85, for a total value of $28,865.05. Following the transaction, the executive vice president owned 3,012 shares in the company, valued at $502,552.20. The trade was a 5.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.

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.