Fmr LLC Trims Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Fmr LLC reduced its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 12.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,807,697 shares of the real estate investment trust’s stock after selling 536,437 shares during the quarter. Fmr LLC’s holdings in Mid-America Apartment Communities were worth $588,556,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Unigestion Holding SA grew its stake in Mid-America Apartment Communities by 76.3% in the 4th quarter. Unigestion Holding SA now owns 8,045 shares of the real estate investment trust’s stock worth $1,244,000 after acquiring an additional 3,483 shares during the period. Peapack Gladstone Financial Corp grew its position in shares of Mid-America Apartment Communities by 0.5% in the fourth quarter. Peapack Gladstone Financial Corp now owns 20,189 shares of the real estate investment trust’s stock valued at $3,121,000 after purchasing an additional 101 shares during the period. Russell Investments Group Ltd. increased its stake in Mid-America Apartment Communities by 200.5% in the fourth quarter. Russell Investments Group Ltd. now owns 455,640 shares of the real estate investment trust’s stock valued at $70,300,000 after purchasing an additional 304,021 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Mid-America Apartment Communities during the fourth quarter worth about $10,012,000. Finally, Huntington National Bank boosted its stake in Mid-America Apartment Communities by 6.4% in the 4th quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust’s stock worth $181,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock opened at $150.06 on Wednesday. Mid-America Apartment Communities, Inc. has a 52 week low of $123.73 and a 52 week high of $173.38. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The stock has a market cap of $17.54 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 3.72 and a beta of 0.79. The stock has a 50 day moving average of $161.09 and a 200-day moving average of $157.25.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, beating analysts’ consensus estimates 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%. On average, analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities’s payout ratio is currently 135.27%.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the business’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 completion of the sale, the chief executive officer now directly owns 319,813 shares in the company, valued at approximately $47,949,563.09. The trade was a 0.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 7,140 shares of company stock worth $1,142,842 over the last quarter. 1.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MAA has been the topic of several recent analyst reports. Evercore ISI increased their price objective on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. Barclays increased their price target 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. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a research note on Tuesday, December 17th. Morgan Stanley raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $159.50 to $168.00 in a research report on Friday, January 24th. Finally, BMO Capital Markets lowered their price target on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a research report on Tuesday, January 21st. 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $168.90.

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.