Massachusetts Financial Services Co. MA reduced its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 17.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,191,956 shares of the real estate investment trust's stock after selling 464,713 shares during the period. Massachusetts Financial Services Co. MA owned 1.88% of Mid-America Apartment Communities worth $367,328,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Capital World Investors raised its holdings in Mid-America Apartment Communities by 45.9% during the fourth 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 buying an additional 2,088,143 shares in the last quarter. Norges Bank bought a new position in shares of Mid-America Apartment Communities in the fourth quarter worth about $826,562,000. JPMorgan Chase & Co. increased its stake 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 purchasing an additional 708,125 shares during the period. Geode Capital Management LLC increased its stake 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 purchasing an additional 52,050 shares during the period. Finally, Northern Trust Corp increased its stake 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 purchasing an additional 465,414 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 $0.48 during trading on Thursday, reaching $150.84. The stock had a trading volume of 867,192 shares, compared to its average volume of 805,445. Mid-America Apartment Communities, Inc. has a 52 week low of $138.89 and a 52 week high of $173.38. The business's 50-day moving average price is $152.76 and its 200 day moving average price is $156.25. 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 market capitalization of $17.66 billion, a PE ratio of 31.43, a P/E/G ratio of 3.78 and a beta of 0.75.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $551.21 million. During the same quarter in the previous year, the company posted $2.22 earnings per share. Mid-America Apartment Communities's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.
Mid-America Apartment Communities Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 4.02%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 126.25%.
Insider Activity
In other news, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities 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 transaction, the executive vice president owned 3,012 shares in the company, valued at approximately $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.20% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on MAA shares. Robert W. Baird lifted their target price on 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 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 report on Friday, May 9th. UBS Group decreased 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 report on Tuesday. Wall Street Zen raised Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Raymond James Financial downgraded Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $168.81.
Get Our Latest Stock Report on MAA
Mid-America Apartment Communities Profile
(
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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