Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 323.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,385 shares of the real estate investment trust’s stock after acquiring an additional 30,855 shares during the period. Wellington Management Group LLP’s holdings in Mid-America Apartment Communities were worth $5,430,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of Mid-America Apartment Communities by 9.2% in the 4th quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock worth $21,020,000 after purchasing an additional 13,045 shares during the period. Janney Montgomery Scott LLC lifted its position in Mid-America Apartment Communities by 163.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock valued at $2,923,000 after buying an additional 13,474 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Mid-America Apartment Communities by 159.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 26,261 shares of the real estate investment trust’s stock worth $3,531,000 after buying an additional 16,144 shares during the period. Columbus Macro LLC acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth $1,280,000. Finally, abrdn plc raised its stake in shares of Mid-America Apartment Communities by 25.4% in the 4th quarter. abrdn plc now owns 85,542 shares of the real estate investment trust’s stock valued at $11,502,000 after acquiring an additional 17,339 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Scotiabank increased their price target on Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a “sector perform” rating in a report on Tuesday, May 14th. Morgan Stanley increased their target price on Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 15th. Truist Financial boosted their price target on Mid-America Apartment Communities from $148.00 to $156.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Mizuho increased their price objective on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $140.00 price target on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Hold” and an average price target of $142.44.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $142.61 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average price is $135.43 and its two-hundred day moving average price is $132.18. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The stock has a market capitalization of $16.66 billion, a P/E ratio of 29.90, a P/E/G ratio of 3.13 and a beta of 0.84.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The company had revenue of $543.60 million during the quarter, compared to the consensus estimate of $541.44 million. During the same period last year, the business posted $2.28 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.12%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 123.27%.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 2,807 shares of company stock worth $353,955 in the last ninety days. 1.30% of the stock is owned by insiders.

About Mid-America Apartment Communities

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