Rhumbline Advisers Has $42.66 Million Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Rhumbline Advisers boosted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,584 shares of the real estate investment trust's stock after buying an additional 16,560 shares during the period. Rhumbline Advisers owned 0.22% of Mid-America Apartment Communities worth $42,663,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Capital World Investors increased its position in shares of 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 worth $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 during the fourth quarter worth $826,562,000. JPMorgan Chase & Co. increased its position in shares of 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 worth $517,015,000 after purchasing an additional 708,125 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Mid-America Apartment Communities by 1.7% during 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Mid-America Apartment Communities by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,656,669 shares of the real estate investment trust's stock worth $410,641,000 after purchasing an additional 40,436 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock traded down $2.16 on Thursday, hitting $149.70. 974,114 shares of the stock traded hands, compared to its average volume of 754,344. The company's fifty day moving average is $158.44 and its 200 day moving average is $158.04. Mid-America Apartment Communities, Inc. has a 1-year low of $135.01 and a 1-year high of $173.38. The company has a market capitalization of $17.52 billion, a PE ratio of 33.42, a PEG ratio of 3.72 and a beta of 0.80. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08.

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 EPS for the quarter, beating the consensus estimate of $2.16 by $0.04. The company had revenue of $549.30 million during the quarter, compared to analyst estimates of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The business's revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.22 earnings per share. On average, equities research analysts predict 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be given a $1.515 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.05%. Mid-America Apartment Communities's dividend payout ratio is presently 126.25%.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,643 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $149.93, for a total transaction of $396,264.99. Following the transaction, the chief executive officer now directly owns 319,813 shares of the company's stock, valued at approximately $47,949,563.09. The trade was a 0.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Amber Fairbanks sold 173 shares of the firm'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 transaction of $28,865.05. Following the transaction, the executive vice president now directly owns 3,012 shares in the company, valued at approximately $502,552.20. The trade was a 5.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,313 shares of company stock worth $1,171,707 in the last ninety days. 1.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MAA. Mizuho dropped their price objective on shares of 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. Evercore ISI upped their price objective on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Wall Street Zen upgraded shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Raymond James cut Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and reduced their target price for the company from $185.00 to $175.00 in a report on Thursday, May 15th. Finally, Barclays raised their target price 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $169.50.

Mid-America Apartment Communities Company 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.