Ameriprise Financial Inc. lifted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 149.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,911 shares of the real estate investment trust's stock after acquiring an additional 77,858 shares during the period. Ameriprise Financial Inc. owned 0.11% of Mid-America Apartment Communities worth $20,080,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Mid-America Apartment Communities by 3.3% in the third quarter. Principal Financial Group Inc. now owns 143,909 shares of the real estate investment trust's stock worth $22,867,000 after buying an additional 4,618 shares in the last quarter. Czech National Bank lifted its position in shares of Mid-America Apartment Communities by 6.4% in the fourth quarter. Czech National Bank now owns 25,342 shares of the real estate investment trust's stock worth $3,917,000 after buying an additional 1,534 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Mid-America Apartment Communities by 36.4% in the fourth quarter. Park Avenue Securities LLC now owns 2,876 shares of the real estate investment trust's stock worth $445,000 after buying an additional 768 shares in the last quarter. Capital Advisors Wealth Management LLC lifted its position in shares of Mid-America Apartment Communities by 21.2% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 6,577 shares of the real estate investment trust's stock worth $1,017,000 after buying an additional 1,149 shares in the last quarter. Finally, Avanza Fonder AB purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth about $1,437,000. Institutional investors own 93.60% of the company's stock.
Mid-America Apartment Communities Stock Up 1.7%
Shares of Mid-America Apartment Communities stock traded up $2.67 during trading on Friday, reaching $163.57. The company's stock had a trading volume of 1,660,835 shares, compared to its average volume of 743,903. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The company has a market cap of $19.15 billion, a price-to-earnings ratio of 36.51, a P/E/G ratio of 3.72 and a beta of 0.80. 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 50-day simple moving average of $160.48 and a two-hundred day simple moving average of $158.12.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its 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 company had revenue of $549.30 million during the quarter, compared to analyst estimates of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $2.22 EPS. As a group, equities 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 was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a dividend of $1.515 per share. The ex-dividend date was Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.70%. Mid-America Apartment Communities's payout ratio is currently 126.25%.
Insider Buying and Selling at Mid-America Apartment Communities
In related news, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities 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 completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO H Eric Bolton, Jr. sold 4,358 shares of Mid-America Apartment Communities stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total value of $724,473.92. Following the completion of the transaction, the chief executive officer now owns 324,171 shares of the company's stock, valued at approximately $53,890,187.04. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,313 shares of company stock worth $1,171,707. Insiders own 1.20% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on MAA shares. Wells Fargo & Company decreased their target price on Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. 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 report on Thursday, May 1st. Royal Bank of Canada upped their price objective on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. JMP Securities restated a "market outperform" rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group upgraded Mid-America Apartment Communities from a "hold" rating to a "buy" rating and upped their price objective 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 issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities has a consensus rating of "Hold" and a consensus price target of $169.09.
Read Our Latest Stock Report on MAA
Mid-America Apartment Communities Profile
(
Free Report)
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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