Wealthfront Advisers LLC Acquires 5,702 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wealthfront Advisers LLC grew its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 41.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,507 shares of the real estate investment trust's stock after acquiring an additional 5,702 shares during the quarter. Wealthfront Advisers LLC's holdings in Mid-America Apartment Communities were worth $3,269,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its stake in Mid-America Apartment Communities by 17.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,591 shares of the real estate investment trust's stock worth $246,000 after purchasing an additional 239 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Mid-America Apartment Communities by 5.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 8,953 shares of the real estate investment trust's stock valued at $1,384,000 after buying an additional 479 shares in the last quarter. Xponance Inc. boosted its position in shares of Mid-America Apartment Communities by 1.8% during the 4th quarter. Xponance Inc. now owns 16,749 shares of the real estate investment trust's stock valued at $2,589,000 after acquiring an additional 304 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in Mid-America Apartment Communities by 17.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 52,668 shares of the real estate investment trust's stock worth $8,141,000 after buying an additional 8,011 shares during the last quarter. Finally, Sandy Spring Bank lifted its position in shares of Mid-America Apartment Communities by 25.2% during the fourth quarter. Sandy Spring Bank now owns 447 shares of the real estate investment trust's stock worth $69,000 after purchasing an additional 90 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of research reports. JMP Securities lifted their target price on Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a report on Thursday, May 22nd. The Goldman Sachs Group cut Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price objective for the company. in a research report on Friday, July 11th. Barclays lifted their price objective 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. Raymond James Financial downgraded Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. Finally, Robert W. Baird upped their price objective on Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has an average rating of "Hold" and a consensus price target of $168.81.

Mid-America Apartment Communities Stock Up 0.3%

NYSE MAA opened at $150.84 on Friday. The stock has a fifty day moving average of $152.55 and a 200-day moving average of $156.23. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market capitalization of $17.66 billion, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 3.85 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 52 week low of $138.89 and a 52 week high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The business had revenue of $549.30 million during the quarter, compared to analysts' expectations of $551.21 million. During the same period in the previous year, the company posted $2.22 earnings per share. The firm's revenue for the quarter 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 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a $1.515 dividend. This represents a $6.06 annualized dividend and a yield of 4.02%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio is presently 126.25%.

Insider Activity

In related news, EVP Amber Fairbanks sold 173 shares of the 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 owned 3,012 shares in the company, valued at $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is owned by corporate 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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