Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC lowered its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 49.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,838 shares of the real estate investment trust's stock after selling 5,807 shares during the quarter. Steel Grove Capital Advisors LLC's holdings in Mid-America Apartment Communities were worth $902,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc boosted its holdings in shares of Mid-America Apartment Communities by 37.2% in the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 68 shares during the period. Headlands Technologies LLC bought a new stake in Mid-America Apartment Communities during the 4th quarter valued at $46,000. UMB Bank n.a. lifted its holdings in shares of Mid-America Apartment Communities by 30.5% in the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust's stock worth $50,000 after buying an additional 75 shares during the period. Catalyst Capital Advisors LLC grew its position in shares of Mid-America Apartment Communities by 57.8% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock worth $56,000 after buying an additional 133 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Mid-America Apartment Communities during the third quarter valued at $63,000. Institutional investors own 93.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MAA. Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and increased their target price for the stock from $148.00 to $190.00 in a report on Monday, March 10th. Evercore ISI increased their price objective on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. JMP Securities reissued a "market outperform" rating and issued a $160.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, February 11th. Mizuho dropped their target price on Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. Finally, Barclays reduced their price target on Mid-America Apartment Communities from $163.00 to $160.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $168.76.

Insider Activity at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 4,358 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total value of $724,473.92. Following the sale, the chief executive officer now directly owns 324,171 shares of the company's stock, valued at $53,890,187.04. This represents a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 7,140 shares of company stock worth $1,142,842 over the last quarter. Insiders own 1.30% of the company's stock.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA traded down $0.12 during midday trading on Friday, reaching $159.34. The company had a trading volume of 366,608 shares, compared to its average volume of 735,418. Mid-America Apartment Communities, Inc. has a 1 year low of $126.77 and a 1 year high of $173.38. The business's 50-day simple moving average is $161.38 and its 200 day simple moving average is $157.20. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The stock has a market cap of $18.63 billion, a P/E ratio of 35.57, a P/E/G ratio of 3.72 and a beta of 0.79.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. On average, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a yield of 3.80%. Mid-America Apartment Communities's dividend payout ratio is currently 135.27%.

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.