Illinois Municipal Retirement Fund boosted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 7.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,978 shares of the real estate investment trust's stock after buying an additional 3,416 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Mid-America Apartment Communities were worth $8,040,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. IFP Advisors Inc lifted 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 worth $39,000 after buying an additional 68 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Mid-America Apartment Communities during the fourth quarter valued at $10,035,000. QRG Capital Management Inc. increased its position in Mid-America Apartment Communities by 53.6% during the fourth quarter. QRG Capital Management Inc. now owns 50,542 shares of the real estate investment trust's stock valued at $7,812,000 after acquiring an additional 17,643 shares during the last quarter. Hahn Capital Management LLC increased its position in Mid-America Apartment Communities by 47.8% during the fourth quarter. Hahn Capital Management LLC now owns 54,628 shares of the real estate investment trust's stock valued at $8,444,000 after acquiring an additional 17,660 shares during the last quarter. Finally, Fielder Capital Group LLC increased its stake in Mid-America Apartment Communities by 8.2% in the 4th quarter. Fielder Capital Group LLC now owns 30,757 shares of the real estate investment trust's stock worth $4,754,000 after buying an additional 2,326 shares during the period. 93.60% of the stock is currently owned by institutional investors.
Mid-America Apartment Communities Price Performance
Shares of NYSE MAA traded up $0.22 during midday trading on Friday, hitting $147.68. The company had a trading volume of 956,591 shares, compared to its average volume of 787,856. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82. The business has a 50-day simple moving average of $155.68 and a two-hundred day simple moving average of $156.69. Mid-America Apartment Communities, Inc. has a twelve month low of $137.51 and a twelve month high of $173.38. The firm has a market capitalization of $17.29 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 3.78 and a beta of 0.78.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly 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. 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 the consensus estimate of $551.21 million. During the same quarter in the prior year, the firm earned $2.22 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.
Mid-America Apartment Communities Announces Dividend
The firm also recently declared 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. This represents a $6.06 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 126.25%.
Analysts Set New Price Targets
MAA has been the topic of a number of research reports. Barclays raised their target price on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a research report on Friday, May 9th. Robert W. Baird lifted their price objective 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. 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 research note on Thursday, May 22nd. Raymond James Financial cut shares of Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Finally, Mizuho cut their price target on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $169.76.
Read Our Latest Research Report on MAA
Insider Buying and Selling at Mid-America Apartment Communities
In other Mid-America Apartment Communities 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 sale, the executive vice president now owns 3,012 shares of the company's stock, valued at $502,552.20. This represents 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 2,643 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $149.93, for a total transaction of $396,264.99. Following the completion of the sale, the chief executive officer now directly owns 319,813 shares in the company, valued at $47,949,563.09. This trade represents 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 over the last quarter. Corporate insiders own 1.20% of the company's stock.
About Mid-America Apartment Communities
(
Free Report)
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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