Phocas Financial Corp. Buys Shares of 1,695 Mid-America Apartment Communities, Inc. (NYSE:MAA)

Phocas Financial Corp. purchased a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,695 shares of the real estate investment trust's stock, valued at approximately $262,000.

Other large investors have also modified their holdings of the company. Capital World Investors grew its stake in Mid-America Apartment Communities by 45.9% in 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 buying an additional 2,088,143 shares during the last quarter. Norges Bank acquired a new position in Mid-America Apartment Communities in the 4th quarter valued at $826,562,000. JPMorgan Chase & Co. grew its stake in 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 buying an additional 708,125 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 buying an additional 52,050 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Mid-America Apartment Communities by 1.5% in the 4th 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 during the last quarter. 93.60% of the stock is owned by institutional investors.

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 4,358 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total value of $724,473.92. Following the completion of the transaction, the chief executive officer now directly owns 324,171 shares of the company's stock, valued at approximately $53,890,187.04. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Amber Fairbanks sold 173 shares of the business's stock in a transaction dated 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 now directly owns 3,012 shares of the company's stock, valued at approximately $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,313 shares of company stock valued at $1,171,707 in the last ninety days. Insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

MAA has been the subject of a number of research reports. Mizuho reduced their price target on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. JMP Securities increased 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 report on Thursday, May 22nd. Wall Street Zen raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Friday. Royal Bank of Canada increased their price target on shares of 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. Finally, Evercore ISI increased their price target on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an "in-line" rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $169.50.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA traded up $0.80 during midday trading on Friday, reaching $156.55. 1,329,352 shares of the company's stock were exchanged, compared to its average volume of 752,710. The company's 50 day simple moving average is $159.27 and its two-hundred day simple moving average is $158.18. The firm has a market capitalization of $18.33 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 3.72 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 12 month low of $129.96 and a 12 month high of $173.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08.

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 analysts' consensus estimates of $2.16 by $0.04. The company had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $2.22 EPS. Equities research analysts expect 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 company 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. This represents a $6.06 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio is currently 126.25%.

Mid-America Apartment Communities 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.