Envestnet Asset Management Inc. Reduces Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Envestnet Asset Management Inc. lowered its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 3.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,795 shares of the real estate investment trust's stock after selling 7,070 shares during the quarter. Envestnet Asset Management Inc. owned about 0.17% of Mid-America Apartment Communities worth $33,314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MAA. CoreCap Advisors LLC lifted its holdings in shares of Mid-America Apartment Communities by 94.9% during the 4th quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 112 shares during the period. GoalVest Advisory LLC boosted its position in shares of Mid-America Apartment Communities by 200.0% in the 1st quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 160 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Mid-America Apartment Communities during the 4th quarter worth about $46,000. NBC Securities Inc. acquired a new position in Mid-America Apartment Communities during the first quarter valued at approximately $46,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at $60,000. 93.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Robert W. Baird raised their target price on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Scotiabank reduced their price target on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating for the company in a research report on Friday, June 13th. Barclays lifted their price objective 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. Wall Street Zen upgraded Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, JMP Securities upped their price target 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. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of "Hold" and an average target price of $168.71.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction 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 directly owned 3,012 shares of the company's stock, 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 document filed with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Mid-America Apartment Communities Trading Down 1.9%

NYSE MAA traded down $2.81 on Tuesday, hitting $148.45. The company's stock had a trading volume of 132,258 shares, compared to its average volume of 900,706. The firm has a market cap of $17.38 billion, a PE ratio of 30.89, a PEG ratio of 3.86 and a beta of 0.75. The company's 50-day moving average is $153.68 and its 200 day moving average is $156.37. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82. Mid-America Apartment Communities, Inc. has a 1-year low of $138.89 and a 1-year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The company had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. During the same period in the previous year, the firm earned $2.22 earnings per share. The firm's quarterly revenue was up 1.0% on a year-over-year basis. As a group, analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a dividend of $1.515 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.08%. Mid-America Apartment Communities's dividend payout ratio is currently 126.25%.

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.