Rhumbline Advisers Purchases 16,804 Shares of Mid-America Apartment Communities Inc (NYSE:MAA)

Rhumbline Advisers boosted its position in Mid-America Apartment Communities Inc (NYSE:MAA) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 223,895 shares of the real estate investment trust’s stock after purchasing an additional 16,804 shares during the period. Rhumbline Advisers owned approximately 0.20% of Mid-America Apartment Communities worth $29,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Parallel Advisors LLC increased its position in shares of Mid-America Apartment Communities by 38.2% during the third quarter. Parallel Advisors LLC now owns 264 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 73 shares during the period. Meeder Asset Management Inc. increased its position in shares of Mid-America Apartment Communities by 19.3% during the third quarter. Meeder Asset Management Inc. now owns 568 shares of the real estate investment trust’s stock worth $74,000 after acquiring an additional 92 shares during the period. Synovus Financial Corp increased its position in shares of Mid-America Apartment Communities by 0.6% during the third quarter. Synovus Financial Corp now owns 16,740 shares of the real estate investment trust’s stock worth $2,178,000 after acquiring an additional 93 shares during the period. State of Michigan Retirement System increased its position in shares of Mid-America Apartment Communities by 0.4% during the third quarter. State of Michigan Retirement System now owns 27,401 shares of the real estate investment trust’s stock worth $3,562,000 after acquiring an additional 100 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of Mid-America Apartment Communities by 19.0% during the fourth quarter. Bessemer Group Inc. now owns 658 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 105 shares during the period. 92.84% of the stock is owned by institutional investors and hedge funds.

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 285 shares of Mid-America Apartment Communities stock in a transaction on Monday, January 13th. The shares were sold at an average price of $132.16, for a total value of $37,665.60. Following the transaction, the chief executive officer now directly owns 254,539 shares of the company’s stock, valued at $33,639,874.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Claude B. Nielsen sold 3,423 shares of Mid-America Apartment Communities stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $137.04, for a total transaction of $469,087.92. Following the completion of the transaction, the director now directly owns 13,740 shares in the company, valued at $1,882,929.60. The disclosure for this sale can be found here. Insiders sold 4,675 shares of company stock worth $634,333 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

NYSE MAA traded up $0.78 on Friday, hitting $144.92. The stock had a trading volume of 12,295 shares, compared to its average volume of 514,755. The business’s fifty day moving average price is $134.99 and its 200 day moving average price is $131.58. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.15 and a quick ratio of 0.08. Mid-America Apartment Communities Inc has a 52-week low of $101.59 and a 52-week high of $144.37. The stock has a market cap of $16.24 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 5.57 and a beta of 0.32.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, January 29th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.63 by ($0.33). Mid-America Apartment Communities had a return on equity of 5.28% and a net margin of 21.50%. The firm had revenue of $416.82 million during the quarter, compared to analysts’ expectations of $417.43 million. During the same period in the prior year, the firm posted $1.55 earnings per share. Mid-America Apartment Communities’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mid-America Apartment Communities Inc will post 6.55 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were issued a $1.00 dividend. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.96. This represents a $4.00 annualized dividend and a yield of 2.76%. The ex-dividend date was Tuesday, January 14th. Mid-America Apartment Communities’s payout ratio is currently 61.07%.

A number of equities analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $135.00 target price on shares of Mid-America Apartment Communities in a research report on Wednesday, December 18th. Citigroup lifted their price objective on shares of Mid-America Apartment Communities from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Mizuho lowered shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $140.00 in a report on Wednesday, January 15th. Goldman Sachs Group started coverage on shares of Mid-America Apartment Communities in a report on Friday, November 8th. They set a “neutral” rating and a $149.00 price objective on the stock. Finally, Scotiabank raised shares of Mid-America Apartment Communities from an “underperform” rating to a “sector perform” rating and set a $138.00 price objective on the stock in a report on Tuesday, November 26th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $130.58.

Mid-America Apartment Communities Profile

MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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