Columbus Macro LLC Makes New Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Columbus Macro LLC acquired a new position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,508 shares of the real estate investment trust's stock, valued at approximately $1,280,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Mid-America Apartment Communities during the fourth quarter valued at $543,026,000. JPMorgan Chase & Co. increased its holdings in Mid-America Apartment Communities by 41.7% in the 1st quarter. JPMorgan Chase & Co. now owns 3,251,030 shares of the real estate investment trust's stock worth $491,036,000 after buying an additional 956,154 shares in the last quarter. Morgan Stanley increased its holdings in Mid-America Apartment Communities by 63.3% in the 4th quarter. Morgan Stanley now owns 2,208,337 shares of the real estate investment trust's stock worth $346,687,000 after buying an additional 856,331 shares in the last quarter. Blackstone Inc. increased its holdings in Mid-America Apartment Communities by 51.8% in the 3rd quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust's stock worth $262,943,000 after buying an additional 697,200 shares in the last quarter. Finally, FMR LLC increased its holdings in Mid-America Apartment Communities by 12.2% in the 3rd quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust's stock worth $702,125,000 after buying an additional 592,306 shares in the last quarter. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock traded up $0.78 during trading hours on Friday, reaching $131.58. 741,936 shares of the company traded hands, compared to its average volume of 688,482. Mid-America Apartment Communities, Inc. has a 12-month low of $115.56 and a 12-month high of $158.46. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. The company has a market cap of $15.36 billion, a P/E ratio of 27.94, a P/E/G ratio of 4.21 and a beta of 0.80. The firm has a 50-day moving average price of $129.13 and a 200 day moving average price of $129.06.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing analysts' consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The business had revenue of $542.25 million during the quarter, compared to analysts' expectations of $542.64 million. During the same period in the prior year, the firm posted $2.32 earnings per share. The firm's revenue for the quarter was up 2.7% on a year-over-year basis. As a group, sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.95 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a yield of 4.47%. Mid-America Apartment Communities's dividend payout ratio is presently 124.84%.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 4,028 shares of the business's stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $130.21, for a total value of $524,485.88. Following the transaction, the chief executive officer now directly owns 304,523 shares of the company's stock, valued at approximately $39,651,939.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 371 shares of Mid-America Apartment Communities stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $131.33, for a total value of $48,723.43. Following the sale, the executive vice president now owns 19,067 shares of the company's stock, valued at approximately $2,504,069.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of Mid-America Apartment Communities stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the sale, the chief executive officer now directly owns 304,523 shares in the company, valued at approximately $39,651,939.83. The disclosure for this sale can be found here. 1.33% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Jefferies Financial Group reiterated a "hold" rating and issued a $136.00 price objective (down from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Mizuho dropped their target price on Mid-America Apartment Communities from $132.00 to $126.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Mid-America Apartment Communities in a research report on Tuesday, January 30th. They issued a "hold" rating and a $139.00 target price on the stock. Finally, Scotiabank raised Mid-America Apartment Communities from a "sector underperform" rating to a "sector perform" rating and raised their target price for the stock from $133.00 to $147.00 in a research report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $143.76.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.