Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 106.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 94,153 shares of the real estate investment trust’s stock after acquiring an additional 48,574 shares during the period. Wellington Management Group LLP owned 0.08% of Mid-America Apartment Communities worth $14,553,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. O Shaughnessy Asset Management LLC lifted its position in Mid-America Apartment Communities by 12.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,315 shares of the real estate investment trust’s stock worth $976,000 after buying an additional 675 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Mid-America Apartment Communities by 3.9% during the 4th quarter. Schroder Investment Management Group now owns 16,612 shares of the real estate investment trust’s stock worth $2,542,000 after acquiring an additional 622 shares during the period. Allianz SE acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth approximately $1,063,000. Allstate Corp acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth approximately $551,000. Finally, DnB Asset Management AS increased its position in Mid-America Apartment Communities by 1.0% during the fourth quarter. DnB Asset Management AS now owns 19,302 shares of the real estate investment trust’s stock worth $2,984,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. sold 4,358 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total transaction of $724,473.92. Following the completion of the transaction, the chief executive officer now directly owns 324,171 shares of the company’s stock, valued at approximately $53,890,187.04. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 7,140 shares of company stock worth $1,142,842 over the last quarter. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MAA. Truist Financial lifted their price target on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a report on Monday, March 10th. Mizuho reduced their target price on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Raymond James upped their price target on Mid-America Apartment Communities from $180.00 to $185.00 and gave the stock a “strong-buy” rating in a research note on Thursday, March 20th. BMO Capital Markets reduced their price objective on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 21st. Finally, Barclays boosted their price objective on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.90.

Mid-America Apartment Communities Stock Down 0.4 %

NYSE:MAA opened at $150.06 on Wednesday. The stock has a 50-day simple moving average of $161.09 and a 200 day simple moving average of $157.25. Mid-America Apartment Communities, Inc. has a one year low of $123.73 and a one year high of $173.38. The company has a market capitalization of $17.54 billion, a price-to-earnings ratio of 33.50, a price-to-earnings-growth ratio of 3.72 and a beta of 0.79. 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 (NYSE:MAA) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating 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%. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 135.27%.

About Mid-America Apartment Communities

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.