1,745 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Acquired by Renaissance Group LLC

Renaissance Group LLC bought a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,745 shares of the real estate investment trust’s stock, valued at approximately $267,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Walleye Capital LLC acquired a new stake in shares of Mid-America Apartment Communities during the third quarter worth $357,000. Quarry LP bought a new stake in Mid-America Apartment Communities during the third quarter valued at $45,000. Quantinno Capital Management LP grew its holdings in Mid-America Apartment Communities by 34.8% during the 3rd quarter. Quantinno Capital Management LP now owns 18,582 shares of the real estate investment trust’s stock worth $2,953,000 after acquiring an additional 4,794 shares during the period. Stifel Financial Corp raised its position in shares of Mid-America Apartment Communities by 5.9% in the 3rd quarter. Stifel Financial Corp now owns 108,034 shares of the real estate investment trust’s stock worth $17,167,000 after acquiring an additional 6,066 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $547,000. Institutional investors own 93.60% of the company’s stock.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,643 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $149.93, for a total transaction of $396,264.99. Following the completion of the transaction, the chief executive officer now owns 319,813 shares in the company, valued at approximately $47,949,563.09. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 7,140 shares of company stock worth $1,142,842 in the last quarter. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on MAA shares. Evercore ISI boosted their price target on 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. Mizuho dropped their target price on shares of 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. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $173.00 to $182.00 in a report on Friday, February 14th. JMP Securities reissued a “market outperform” rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada boosted their target price on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $168.90.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $150.06 on Wednesday. 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 cap of $17.54 billion, a P/E ratio of 33.50, a P/E/G ratio of 3.72 and a beta of 0.79. The firm has a 50-day moving average of $161.09 and a 200-day moving average of $157.25. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. Equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 annualized dividend and a yield of 4.04%. Mid-America Apartment Communities’s dividend payout ratio is currently 135.27%.

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.