Perpetual Ltd Purchases 52,870 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Perpetual Ltd boosted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 41.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 180,376 shares of the real estate investment trust's stock after buying an additional 52,870 shares during the period. Perpetual Ltd owned approximately 0.15% of Mid-America Apartment Communities worth $30,227,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in MAA. Norges Bank bought a new stake in Mid-America Apartment Communities during the fourth quarter valued at $826,562,000. Capital World Investors boosted its stake 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 during the period. Deutsche Bank AG boosted its stake in Mid-America Apartment Communities by 312.6% during the fourth quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust's stock valued at $189,507,000 after buying an additional 928,851 shares during the period. JPMorgan Chase & Co. boosted its stake in Mid-America Apartment Communities by 26.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust's stock valued at $517,015,000 after buying an additional 708,125 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Mid-America Apartment Communities during the fourth quarter valued at $95,671,000. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Trading Up 0.1%

Shares of MAA traded up $0.12 during trading hours on Monday, hitting $147.97. The company had a trading volume of 825,894 shares, compared to its average volume of 788,008. The firm has a market cap of $17.32 billion, a P/E ratio of 30.83, a P/E/G ratio of 3.78 and a beta of 0.78. The stock's 50 day moving average price is $155.54 and its 200 day moving average price is $156.61. 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 52-week low of $137.51 and a 52-week high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $549.30 million for the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The company's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.22 earnings per share. On average, research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be issued a dividend of $1.515 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 dividend on an annualized basis and a yield of 4.10%. Mid-America Apartment Communities's dividend payout ratio is presently 126.25%.

Analysts Set New Price Targets

MAA has been the subject of several research analyst reports. Scotiabank dropped their price objective on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating for the company in a research note on Friday, June 13th. Jefferies Financial Group upgraded Mid-America Apartment Communities from a "hold" rating to a "buy" rating and raised their price target for the company from $148.00 to $190.00 in a research report on Monday, March 10th. JMP Securities raised their price target on Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a research report on Thursday, May 22nd. Truist Financial lowered their price target on 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. Finally, Barclays raised their price target on 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. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $169.76.

Insider Transactions at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 4,358 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total transaction of $724,473.92. Following the transaction, the chief executive officer owned 324,171 shares in the company, valued at $53,890,187.04. The trade was a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Amber Fairbanks sold 173 shares of the business'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 transaction, the executive vice president owned 3,012 shares in the company, valued at approximately $502,552.20. This represents a 5.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,313 shares of company stock worth $1,171,707. 1.30% of the stock is owned by company insiders.

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.