Mid-America Apartment Communities, Inc. (NYSE:MAA) Holdings Cut by Fullerton Fund Management Co Ltd.

Fullerton Fund Management Co Ltd. lowered its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 46.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,872 shares of the real estate investment trust’s stock after selling 4,167 shares during the period. Fullerton Fund Management Co Ltd.’s holdings in Mid-America Apartment Communities were worth $753,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Inspire Investing LLC grew its stake in Mid-America Apartment Communities by 0.9% in the fourth quarter. Inspire Investing LLC now owns 7,978 shares of the real estate investment trust’s stock valued at $1,233,000 after purchasing an additional 68 shares in the last quarter. IFP Advisors Inc increased its holdings in 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 worth $39,000 after buying an additional 68 shares during the last quarter. Sanctuary Advisors LLC raised its position in Mid-America Apartment Communities by 0.6% during the fourth quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust’s stock valued at $1,704,000 after acquiring an additional 69 shares in the last quarter. Huntington National Bank grew its position in Mid-America Apartment Communities by 6.4% in the fourth quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust’s stock worth $181,000 after acquiring an additional 70 shares in the last quarter. Finally, Chesley Taft & Associates LLC increased its stake in shares of Mid-America Apartment Communities by 1.6% during the 4th quarter. Chesley Taft & Associates LLC now owns 4,828 shares of the real estate investment trust’s stock worth $746,000 after purchasing an additional 75 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MAA has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Morgan Stanley upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $159.50 to $168.00 in a research note on Friday, January 24th. Raymond James raised their price objective on Mid-America Apartment Communities from $180.00 to $185.00 and gave the company a “strong-buy” rating in a research note on Thursday, March 20th. Jefferies Financial Group raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and upped their target price for the stock from $148.00 to $190.00 in a research report on Monday, March 10th. Finally, Royal Bank of Canada lifted their price target on shares of 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 analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of “Moderate Buy” and an average target price of $169.00.

Insider Activity

In other news, EVP Amber Fairbanks sold 173 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total value of $28,865.05. Following the sale, the executive vice president now owns 3,012 shares in the company, valued at approximately $502,552.20. The trade was a 5.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO H Eric Bolton, Jr. sold 4,358 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 324,171 shares in the company, valued at approximately $53,890,187.04. The trade was a 1.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,313 shares of company stock worth $1,171,707. Company insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $162.96 on Friday. The firm has a market capitalization of $19.08 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 3.72 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a one year low of $126.77 and a one year high of $173.38. The business has a fifty day simple moving average of $161.03 and a 200 day simple moving average of $157.82. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The company had revenue of $549.30 million during the quarter, compared to analysts’ expectations of $551.21 million. During the same quarter in the prior year, the company posted $2.22 EPS. The business’s revenue was up 1.0% on a year-over-year basis. Sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Tuesday, April 15th. Mid-America Apartment Communities’s payout ratio is 126.25%.

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.