Welch Group LLC purchased a new position in Mid-America Apartment Communities Inc (NYSE:MAA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,304 shares of the real estate investment trust’s stock, valued at approximately $143,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of Mid-America Apartment Communities by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 1,104,522 shares of the real estate investment trust’s stock worth $110,651,000 after purchasing an additional 6,288 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Mid-America Apartment Communities in the third quarter worth about $276,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Mid-America Apartment Communities in the third quarter worth about $225,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Mid-America Apartment Communities in the third quarter worth about $607,000. Finally, Pacer Advisors Inc. raised its stake in shares of Mid-America Apartment Communities by 14.5% in the third quarter. Pacer Advisors Inc. now owns 5,638 shares of the real estate investment trust’s stock worth $565,000 after purchasing an additional 714 shares during the last quarter. 94.08% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on MAA shares. ValuEngine upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research note on Tuesday, December 18th. KeyCorp set a $108.00 price objective on Mid-America Apartment Communities and gave the stock a “buy” rating in a research note on Thursday, December 20th. Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. Barclays restated a “buy” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, January 23rd. Finally, Zacks Investment Research cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Mid-America Apartment Communities currently has an average rating of “Hold” and an average price target of $107.35.

In other news, insider H Eric Bolton, Jr. sold 262 shares of the business’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $97.84, for a total value of $25,634.08. Following the completion of the sale, the insider now directly owns 224,347 shares in the company, valued at $21,950,110.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO H Eric Bolton, Jr. sold 338 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $107.04, for a total value of $36,179.52. Following the completion of the sale, the chief executive officer now owns 222,316 shares of the company’s stock, valued at $23,796,704.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,760 shares of company stock valued at $606,463. 1.26% of the stock is owned by company insiders.

MAA stock traded down $0.23 during trading on Monday, hitting $109.93. 422,678 shares of the company traded hands, compared to its average volume of 554,141. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.71. The stock has a market cap of $12.55 billion, a P/E ratio of 18.20, a P/E/G ratio of 3.33 and a beta of 0.49. Mid-America Apartment Communities Inc has a 1 year low of $87.47 and a 1 year high of $111.10.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, January 30th. The real estate investment trust reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The company had revenue of $398.15 million during the quarter, compared to analysts’ expectations of $399.19 million. Mid-America Apartment Communities had a return on equity of 3.41% and a net margin of 14.01%. Mid-America Apartment Communities’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $1.50 earnings per share. On average, research analysts predict that Mid-America Apartment Communities Inc will post 6.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 63.58%.

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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 Communities, and Non-Same Store and Other segments. The Same Store Communities segment focuses on communities that the company has owned and have been stabilized for at least a full twelve months as of the first day of the calendar year.

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

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