Capital World Investors Grows Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Capital World Investors raised its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 45.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,636,915 shares of the real estate investment trust’s stock after acquiring an additional 2,088,143 shares during the quarter. Capital World Investors owned approximately 5.68% of Mid-America Apartment Communities worth $1,025,868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Mid-America Apartment Communities by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,725,605 shares of the real estate investment trust’s stock worth $266,723,000 after purchasing an additional 24,407 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Mid-America Apartment Communities by 0.3% during the 4th quarter. First Trust Advisors LP now owns 68,617 shares of the real estate investment trust’s stock worth $10,606,000 after acquiring an additional 178 shares in the last quarter. Freedom Investment Management Inc. increased its holdings in shares of Mid-America Apartment Communities by 7.7% in the 4th quarter. Freedom Investment Management Inc. now owns 3,395 shares of the real estate investment trust’s stock valued at $525,000 after acquiring an additional 244 shares during the last quarter. GeoWealth Management LLC increased its holdings in shares of Mid-America Apartment Communities by 9.6% in the 4th quarter. GeoWealth Management LLC now owns 4,349 shares of the real estate investment trust’s stock valued at $672,000 after acquiring an additional 380 shares during the last quarter. Finally, Commerce Bank raised its position in shares of Mid-America Apartment Communities by 1.1% during the 4th quarter. Commerce Bank now owns 8,998 shares of the real estate investment trust’s stock worth $1,391,000 after acquiring an additional 99 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,643 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the sale, the chief executive officer now owns 319,813 shares of the company’s stock, valued at approximately $47,949,563.09. This represents a 0.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders have sold 7,140 shares of company stock valued at $1,142,842. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays lowered 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 report on Friday, April 11th. BMO Capital Markets lowered their target price on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a report on Tuesday, January 21st. Mizuho cut their price target on shares of 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. JMP Securities restated 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. Finally, Royal Bank of Canada lifted their target price on Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of “Moderate Buy” and a consensus target price of $168.76.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $156.98 on Friday. The company’s fifty day moving average is $161.23 and its two-hundred day moving average is $157.05. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market capitalization of $18.35 billion, a P/E ratio of 35.04, a PEG ratio of 3.72 and a beta of 0.79. Mid-America Apartment Communities, Inc. has a one year low of $125.55 and a one year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share 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%. 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. 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 annualized dividend and a dividend yield of 3.86%. Mid-America Apartment Communities’s dividend payout ratio 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.