Silvercrest Asset Management Group LLC Sells 2,548 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Silvercrest Asset Management Group LLC lowered its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 351,398 shares of the real estate investment trust's stock after selling 2,548 shares during the quarter. Silvercrest Asset Management Group LLC owned 0.30% of Mid-America Apartment Communities worth $54,316,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MAA. Norges Bank acquired a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $826,562,000. Capital World Investors boosted its holdings in shares of Mid-America Apartment Communities by 45.9% during the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock worth $1,025,868,000 after purchasing an additional 2,088,143 shares during the period. Deutsche Bank AG boosted its holdings in shares of Mid-America Apartment Communities by 312.6% during the fourth quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust's stock worth $189,507,000 after purchasing an additional 928,851 shares during the period. JPMorgan Chase & Co. boosted its holdings 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 period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth approximately $95,671,000. Institutional investors and hedge funds own 93.60% of the company's stock.

Wall Street Analyst Weigh In

MAA has been the subject of several research reports. Raymond James cut shares of Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $185.00 to $175.00 in a report on Thursday. BMO Capital Markets decreased their price target on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada boosted their target price on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Morgan Stanley raised shares of Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $159.50 to $168.00 in a research report on Friday, January 24th. Finally, Jefferies Financial Group raised shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and boosted their target price for the stock from $148.00 to $190.00 in a research report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of "Hold" and a consensus price target of $169.09.

Mid-America Apartment Communities Price Performance

Shares of MAA stock traded down $1.95 during mid-day trading on Monday, reaching $161.25. The company's stock had a trading volume of 693,016 shares, compared to its average volume of 743,699. 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 cap of $18.88 billion, a P/E ratio of 35.99, a PEG ratio of 3.72 and a beta of 0.80. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The firm's 50-day moving average is $160.47 and its two-hundred day moving average is $158.25.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings data 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 net margin of 24.03% and a return on equity of 8.53%. The company had revenue of $549.30 million during the quarter, compared to analysts' expectations of $551.21 million. During the same quarter in the prior year, the company posted $2.22 EPS. The business's revenue was up 1.0% on a year-over-year basis. On average, research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Tuesday, April 15th. Mid-America Apartment Communities's payout ratio is 126.25%.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were 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 approximately $47,949,563.09. This trade represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amber Fairbanks sold 173 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the transaction, the executive vice president now directly owns 3,012 shares in the company, valued at $502,552.20. This trade represents a 5.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,313 shares of company stock valued at $1,171,707. 1.20% of the stock is owned by insiders.

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.