Wellington Management Group LLP Purchases 48,574 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wellington Management Group LLP lifted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 106.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,153 shares of the real estate investment trust's stock after acquiring an additional 48,574 shares during the period. Wellington Management Group LLP owned about 0.08% of Mid-America Apartment Communities worth $14,553,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC increased its stake in Mid-America Apartment Communities by 94.9% during the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 112 shares during the last quarter. IFP Advisors Inc grew its position in shares of Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 68 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Mid-America Apartment Communities during the fourth quarter worth about $46,000. Catalyst Capital Advisors LLC lifted its holdings in Mid-America Apartment Communities by 57.8% in the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock worth $56,000 after acquiring an additional 133 shares during the last quarter. Finally, Sandy Spring Bank lifted its holdings in Mid-America Apartment Communities by 25.2% in the fourth quarter. Sandy Spring Bank now owns 447 shares of the real estate investment trust's stock worth $69,000 after acquiring an additional 90 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MAA shares. Barclays boosted their price objective 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. Truist Financial dropped their price target on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. 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 report on Monday, February 10th. Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and increased their target price for the company from $148.00 to $190.00 in a research report on Monday, March 10th. Finally, Scotiabank boosted their price target on shares of Mid-America Apartment Communities from $182.00 to $194.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of "Hold" and a consensus target price of $169.50.

Mid-America Apartment Communities Trading Down 2.0%

Shares of NYSE MAA traded down $3.11 during midday trading on Tuesday, reaching $152.56. The stock had a trading volume of 1,252,782 shares, compared to its average volume of 751,653. The company's 50 day moving average price is $158.96 and its 200 day moving average price is $158.12. 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, Inc. has a twelve month low of $133.19 and a twelve month high of $173.38. The firm has a market cap of $17.86 billion, a price-to-earnings ratio of 34.05, a price-to-earnings-growth ratio of 3.72 and a beta of 0.80.

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, topping analysts' consensus estimates of $2.16 by $0.04. The firm had revenue of $549.30 million for the quarter, compared to analysts' expectations of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.22 EPS. As a group, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

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 3.97%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities's payout ratio is presently 126.25%.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 4,358 shares of the firm's stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total transaction of $724,473.92. Following the completion of the sale, the chief executive officer now directly owns 324,171 shares of the company's stock, valued at $53,890,187.04. This trade represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the sale, the executive vice president now owns 3,012 shares in the company, valued at $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,313 shares of company stock valued at $1,171,707 over the last ninety days. 1.20% of the stock is currently owned by 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.