Whipplewood Advisors LLC Acquires 74,234 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Whipplewood Advisors LLC increased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 151,498.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 74,283 shares of the real estate investment trust's stock after acquiring an additional 74,234 shares during the period. Mid-America Apartment Communities comprises 3.8% of Whipplewood Advisors LLC's portfolio, making the stock its 4th biggest position. Whipplewood Advisors LLC owned about 0.06% of Mid-America Apartment Communities worth $12,448,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Capital World Investors raised its position in Mid-America Apartment Communities by 45.9% during the 4th quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock valued at $1,025,868,000 after purchasing an additional 2,088,143 shares in the last quarter. Norges Bank acquired a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at $826,562,000. JPMorgan Chase & Co. boosted its holdings 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 valued at $517,015,000 after acquiring an additional 708,125 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of 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 valued at $492,421,000 after purchasing an additional 52,050 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position 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 valued at $410,641,000 after buying an additional 40,436 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, EVP Amber Fairbanks sold 173 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were 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. This represents a 5.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the 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 completion of the sale, the chief executive officer now directly owns 319,813 shares of the company's stock, valued at $47,949,563.09. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,313 shares of company stock valued at $1,171,707. Company insiders own 1.20% of the company's stock.

Mid-America Apartment Communities Stock Down 1.4%

NYSE MAA traded down $2.16 during trading hours on Thursday, hitting $149.70. The company had a trading volume of 974,055 shares, compared to its average volume of 754,344. The firm's 50 day moving average is $158.44 and its 200 day moving average is $158.04. Mid-America Apartment Communities, Inc. has a fifty-two week low of $135.01 and a fifty-two week high of $173.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market capitalization of $17.52 billion, a price-to-earnings ratio of 33.42, a P/E/G ratio of 3.72 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, topping the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The business had revenue of $549.30 million for the quarter, compared to analysts' expectations of $551.21 million. During the same quarter last year, the company posted $2.22 earnings per share. The company's quarterly revenue was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.515 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 annualized dividend and a dividend yield of 4.05%. Mid-America Apartment Communities's dividend payout ratio is presently 126.25%.

Analysts Set New Price Targets

MAA has been the topic of several recent research reports. Scotiabank upped their target price on shares of Mid-America Apartment Communities from $182.00 to $194.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and boosted their price target for the stock from $148.00 to $190.00 in a report on Monday, March 10th. Royal Bank of Canada boosted their target price on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a "sector perform" rating in a report on Friday, February 7th. Mizuho dropped their target price on 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. Finally, Truist Financial lowered their target price on shares of 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of "Hold" and an average target price of $169.50.

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.