Jennison Associates LLC Makes New Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Jennison Associates LLC acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,327 shares of the real estate investment trust's stock, valued at approximately $558,000.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in Mid-America Apartment Communities by 107.1% in the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 91 shares during the period. CoreCap Advisors LLC grew its position in Mid-America Apartment Communities by 94.9% in the 4th 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. GoalVest Advisory LLC boosted its holdings in Mid-America Apartment Communities by 200.0% during the 1st quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 160 shares during the last quarter. Headlands Technologies LLC purchased a new position in Mid-America Apartment Communities during the 4th quarter worth $46,000. Finally, NBC Securities Inc. purchased a new position in Mid-America Apartment Communities during the 1st quarter worth $46,000. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Price Performance

MAA traded up $0.07 during midday trading on Friday, hitting $151.75. The stock had a trading volume of 560,418 shares, compared to its average volume of 860,699. The company has a market cap of $17.76 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 3.88 and a beta of 0.75. The business has a fifty day moving average of $151.35 and a 200 day moving average of $156.25. 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 1 year low of $139.60 and a 1 year high of $173.38.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.04. The business had revenue of $549.30 million during the quarter, compared to analyst estimates of $551.21 million. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. Mid-America Apartment Communities's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.22 earnings per share. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a $1.515 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 3.99%. Mid-America Apartment Communities's payout ratio is currently 126.25%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MAA. Mizuho cut their price objective on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. UBS Group lowered their target price on Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating on the stock in a research note on Tuesday, July 15th. Barclays lifted 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 note on Friday, May 9th. Truist Financial lowered their price objective 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. Finally, JMP Securities boosted their price objective on 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. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $168.81.

Insiders Place Their Bets

In related 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 transaction of $28,865.05. Following the completion of the transaction, the executive vice president owned 3,012 shares in the company, valued at $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.20% of the company's stock.

Mid-America Apartment Communities Company 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.