Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 188.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,451,578 shares of the real estate investment trust's stock after purchasing an additional 949,171 shares during the period. Massachusetts Financial Services Co. MA owned about 1.24% of Mid-America Apartment Communities worth $195,179,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MAA. Cullen Frost Bankers Inc. acquired a new stake in Mid-America Apartment Communities during the third quarter worth about $35,000. CVA Family Office LLC acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $40,000. First Financial Corp IN increased its stake in shares of Mid-America Apartment Communities by 40.8% in the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 86 shares during the period. Emfo LLC acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Mid-America Apartment Communities by 53.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 378 shares of the real estate investment trust's stock valued at $51,000 after purchasing an additional 132 shares during the period. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Up 0.7 %

Shares of MAA traded up $0.92 during mid-day trading on Wednesday, reaching $137.74. The company's stock had a trading volume of 571,147 shares, compared to its average volume of 864,309. The business has a fifty day moving average of $130.91 and a 200 day moving average of $129.02. The company has a market cap of $16.09 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 3.57 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $158.46. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($1.01). The business had revenue of $543.60 million during the quarter, compared to analysts' expectations of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. Mid-America Apartment Communities's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.28 EPS. As a group, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.89 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $1.47 dividend. The ex-dividend date was Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.27%. Mid-America Apartment Communities's payout ratio is currently 123.27%.

Analyst Upgrades and Downgrades

Several brokerages have commented on MAA. Morgan Stanley raised their price target on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an "equal weight" rating in a research note on Wednesday. Piper Sandler reiterated a "neutral" rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Wedbush upgraded shares of Mid-America Apartment Communities from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $135.00 to $154.00 in a research note on Monday, May 6th. Scotiabank raised their price objective on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a "sector perform" rating in a research note on Tuesday. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Mid-America Apartment Communities currently has an average rating of "Hold" and a consensus target price of $143.78.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 2,807 shares of company stock worth $353,955. Corporate insiders own 1.30% of the company's stock.

Mid-America Apartment Communities Company Profile

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.