Prosperity Consulting Group LLC Reduces Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Prosperity Consulting Group LLC cut its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,277 shares of the real estate investment trust’s stock after selling 760 shares during the quarter. Prosperity Consulting Group LLC’s holdings in Mid-America Apartment Communities were worth $2,052,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $149.93, for a total transaction of $396,264.99. Following the completion of the sale, the chief executive officer now directly owns 319,813 shares in the company, valued at $47,949,563.09. This trade represents a 0.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 7,140 shares of company stock valued at $1,142,842 in the last quarter. Company insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $159.34 on Friday. The firm has a fifty day moving average of $161.38 and a 200-day moving average of $157.20. Mid-America Apartment Communities, Inc. has a 52-week low of $126.77 and a 52-week high of $173.38. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $18.63 billion, a P/E ratio of 35.57, a PEG ratio of 3.72 and a beta of 0.79.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, beating the consensus estimate 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%. As a group, analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. 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 research note on Monday, January 6th. Wells Fargo & Company cut their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their price target for the stock from $148.00 to $190.00 in a research note on Monday, March 10th. Scotiabank raised shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $173.00 to $182.00 in a research report on Friday, February 14th. Finally, Barclays decreased their target price on shares of Mid-America Apartment Communities from $163.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $168.76.

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.