Nuveen Asset Management LLC Buys 200,009 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Nuveen Asset Management LLC raised its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 707,776 shares of the real estate investment trust's stock after purchasing an additional 200,009 shares during the quarter. Nuveen Asset Management LLC owned 0.61% of Mid-America Apartment Communities worth $109,401,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MAA. Metis Global Partners LLC grew its stake in Mid-America Apartment Communities by 9.5% during the fourth quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust's stock worth $2,670,000 after buying an additional 1,499 shares during the period. Paradigm Asset Management Co. LLC grew its stake in Mid-America Apartment Communities by 1,582.9% during the fourth quarter. Paradigm Asset Management Co. LLC now owns 6,698 shares of the real estate investment trust's stock worth $1,035,000 after buying an additional 6,300 shares during the period. Principal Financial Group Inc. grew its stake in Mid-America Apartment Communities by 31.6% during the fourth quarter. Principal Financial Group Inc. now owns 189,428 shares of the real estate investment trust's stock worth $29,280,000 after buying an additional 45,519 shares during the period. Vert Asset Management LLC grew its stake in Mid-America Apartment Communities by 9.6% during the fourth quarter. Vert Asset Management LLC now owns 51,374 shares of the real estate investment trust's stock worth $7,941,000 after buying an additional 4,499 shares during the period. Finally, Sanctuary Advisors LLC grew its stake in Mid-America Apartment Communities by 0.6% during the fourth quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust's stock worth $1,704,000 after buying an additional 69 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 directly owns 3,012 shares of the company's stock, valued at $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $149.93, for a total transaction of $396,264.99. Following the sale, the chief executive officer now directly owns 319,813 shares in the company, valued at approximately $47,949,563.09. This represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Over 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 company insiders.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock traded down $1.00 on Tuesday, reaching $160.34. The stock had a trading volume of 593,099 shares, compared to its average volume of 743,099. The business's 50-day moving average price is $160.47 and its two-hundred day moving average price is $158.25. 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 fifty-two week low of $126.77 and a fifty-two week high of $173.38. The stock has a market cap of $18.77 billion, a P/E ratio of 35.79, 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 issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, topping 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 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 earned $2.22 earnings per share. Mid-America Apartment Communities's revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 3.78%. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 126.25%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MAA shares. Wells Fargo & Company decreased their price objective on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Scotiabank boosted their price objective on shares of Mid-America Apartment Communities from $182.00 to $194.00 and gave the stock a "sector outperform" rating in a research note on Monday, May 12th. Barclays upped their target price on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Raymond James downgraded shares of Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and decreased their target price for the company from $185.00 to $175.00 in a research note on Thursday, May 15th. Finally, Truist Financial upped their target price on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a "buy" rating in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $169.09.

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.