Royal Bank of Canada Boosts Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Royal Bank of Canada boosted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 357,301 shares of the real estate investment trust's stock after buying an additional 3,683 shares during the quarter. Royal Bank of Canada owned approximately 0.31% of Mid-America Apartment Communities worth $55,228,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. ProShare Advisors LLC lifted its stake in Mid-America Apartment Communities by 5.0% in the 4th quarter. ProShare Advisors LLC now owns 29,751 shares of the real estate investment trust's stock valued at $4,599,000 after buying an additional 1,413 shares in the last quarter. Quantinno Capital Management LP lifted its stake in Mid-America Apartment Communities by 117.2% in the 4th quarter. Quantinno Capital Management LP now owns 40,365 shares of the real estate investment trust's stock valued at $6,239,000 after buying an additional 21,783 shares in the last quarter. Pathstone Holdings LLC lifted its stake in Mid-America Apartment Communities by 0.6% in the 4th quarter. Pathstone Holdings LLC now owns 61,495 shares of the real estate investment trust's stock valued at $9,505,000 after buying an additional 339 shares in the last quarter. Mufg Securities Americas Inc. purchased a new stake in Mid-America Apartment Communities in the 4th quarter valued at approximately $267,000. Finally, Nissay Asset Management Corp Japan ADV lifted its stake in Mid-America Apartment Communities by 1.7% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 31,066 shares of the real estate investment trust's stock valued at $4,776,000 after buying an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Trading Down 0.6%

Shares of MAA opened at $160.34 on Wednesday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $18.77 billion, a P/E ratio of 35.79, a price-to-earnings-growth ratio of 3.72 and a beta of 0.80. The stock's fifty day simple moving average is $160.44 and its 200 day simple moving average is $158.26. Mid-America Apartment Communities, Inc. has a twelve month low of $126.77 and a twelve month 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, beating the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The company had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. During the same period last year, the company posted $2.22 earnings per share. The firm's revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a $1.515 dividend. This represents a $6.06 annualized dividend and a yield of 3.78%. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 126.25%.

Analyst Ratings Changes

MAA has been the subject of several analyst reports. Robert W. Baird boosted their price target on Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Raymond James downgraded Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and cut their price target for the company from $185.00 to $175.00 in a report on Thursday, May 15th. Wells Fargo & Company cut their price target on Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Jefferies Financial Group upgraded Mid-America Apartment Communities from a "hold" rating to a "buy" rating and boosted their price target for the company from $148.00 to $190.00 in a report on Monday, March 10th. Finally, Barclays boosted their price target on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $169.09.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the transaction, the executive vice president now directly owns 3,012 shares of the company's stock, valued at $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the completion of the transaction, the chief executive officer now directly owns 319,813 shares in the company, valued at $47,949,563.09. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,313 shares of company stock valued at $1,171,707 over the last three months. 1.20% of the stock is owned by company insiders.

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.

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