Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Bought by Vert Asset Management LLC

Vert Asset Management LLC grew its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 5.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,988 shares of the real estate investment trust's stock after acquiring an additional 2,614 shares during the quarter. Mid-America Apartment Communities comprises approximately 3.1% of Vert Asset Management LLC's investment portfolio, making the stock its 13th biggest position. Vert Asset Management LLC's holdings in Mid-America Apartment Communities were worth $9,047,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Metis Global Partners LLC grew its holdings in shares of Mid-America Apartment Communities by 9.5% in the fourth quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust's stock valued at $2,670,000 after purchasing an additional 1,499 shares during the period. Paradigm Asset Management Co. LLC grew its stake in shares of Mid-America Apartment Communities by 1,582.9% in the 4th quarter. Paradigm Asset Management Co. LLC now owns 6,698 shares of the real estate investment trust's stock valued at $1,035,000 after buying an additional 6,300 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Mid-America Apartment Communities by 31.6% during the 4th quarter. Principal Financial Group Inc. now owns 189,428 shares of the real estate investment trust's stock worth $29,280,000 after buying an additional 45,519 shares during the last quarter. Starwood Capital Group Management L.L.C. raised its position in shares of Mid-America Apartment Communities by 17.7% during the 4th quarter. Starwood Capital Group Management L.L.C. now owns 219,407 shares of the real estate investment trust's stock valued at $33,914,000 after buying an additional 33,000 shares during the period. Finally, Sanctuary Advisors LLC raised its position in shares of Mid-America Apartment Communities by 0.6% during the 4th quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust's stock valued at $1,704,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 93.60% of the company's stock.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 4,358 shares of Mid-America Apartment Communities 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 sale, the chief executive officer now owns 324,171 shares in the company, valued at approximately $53,890,187.04. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Amber Fairbanks sold 173 shares of the business'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 value of $28,865.05. Following the completion of the sale, the executive vice president now owns 3,012 shares of the company's stock, 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 valued at $1,171,707. Corporate insiders own 1.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Truist Financial cut their target price on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Barclays increased their price target on Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an "equal weight" rating in a report on Friday, May 9th. Robert W. Baird boosted their price objective on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. JMP Securities increased their target price on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 22nd. Finally, Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and lifted their price target for the company from $148.00 to $190.00 in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $169.50.

Mid-America Apartment Communities Stock Up 0.6%

NYSE:MAA traded up $0.95 during midday trading on Thursday, reaching $151.31. The company had a trading volume of 907,646 shares, compared to its average volume of 765,860. The firm has a market capitalization of $17.71 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 3.72 and a beta of 0.78. The stock's fifty day simple moving average is $157.09 and its 200-day simple moving average is $157.75. Mid-America Apartment Communities, Inc. has a 12-month low of $136.85 and a 12-month high of $173.38. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter last year, the company earned $2.22 EPS. Mid-America Apartment Communities's revenue for the quarter was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate 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. Stockholders of record on Tuesday, July 15th will be given a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 4.01%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 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.