Adelante Capital Management LLC Sells 34,230 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Adelante Capital Management LLC lessened its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 21.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 128,120 shares of the real estate investment trust's stock after selling 34,230 shares during the period. Mid-America Apartment Communities comprises about 1.3% of Adelante Capital Management LLC's holdings, making the stock its 22nd largest holding. Adelante Capital Management LLC owned approximately 0.11% of Mid-America Apartment Communities worth $19,804,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Mid-America Apartment Communities during the fourth quarter valued at approximately $826,562,000. Capital World Investors lifted its holdings in shares of Mid-America Apartment Communities by 45.9% in the 4th quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock worth $1,025,868,000 after acquiring an additional 2,088,143 shares during the last quarter. JPMorgan Chase & Co. lifted 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 during the last quarter. Raymond James Financial Inc. bought a new position in shares of Mid-America Apartment Communities during the 4th quarter worth $95,671,000. Finally, Aew Capital Management L P raised its holdings in Mid-America Apartment Communities by 516.3% in the fourth quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust's stock worth $97,533,000 after purchasing an additional 528,608 shares in the last quarter. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Up 3.5 %

Shares of NYSE MAA traded up $5.70 during mid-day trading on Friday, hitting $167.77. The company had a trading volume of 1,026,319 shares, compared to its average volume of 733,783. Mid-America Apartment Communities, Inc. has a 1-year low of $126.77 and a 1-year high of $173.38. The company has a market capitalization of $19.61 billion, a PE ratio of 37.45, a price-to-earnings-growth 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. The business's 50-day simple moving average is $161.41 and its 200 day simple moving average is $157.49.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $551.21 million. During the same quarter last year, the business posted $2.22 earnings per share. Mid-America Apartment Communities's revenue was up 1.0% compared to the same quarter last year. On average, analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a $1.515 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $6.06 annualized dividend and a yield of 3.61%. Mid-America Apartment Communities's dividend payout ratio is presently 126.25%.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, EVP Amber Fairbanks sold 173 shares of the company'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. 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 accessible through this link. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the transaction, the chief executive officer now owns 319,813 shares of the company's stock, valued at $47,949,563.09. The trade was a 0.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,313 shares of company stock worth $1,171,707 over the last ninety days. 1.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MAA has been the topic of a number of recent analyst reports. Evercore ISI increased their target price on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. StockNews.com upgraded Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research note on Wednesday, April 23rd. Barclays dropped their price target on Mid-America Apartment Communities from $163.00 to $160.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Mizuho cut their price objective on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. Finally, Raymond James upped their price target on Mid-America Apartment Communities from $180.00 to $185.00 and gave the stock a "strong-buy" rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of "Moderate Buy" and a consensus target price of $168.45.

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.