Mid-America Apartment Communities, Inc. (NYSE:MAA) Stock Holdings Lifted by CoreCap Advisors LLC

CoreCap Advisors LLC raised its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 94.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230 shares of the real estate investment trust’s stock after purchasing an additional 112 shares during the quarter. CoreCap Advisors LLC’s holdings in Mid-America Apartment Communities were worth $36,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital World Investors grew its stake in Mid-America Apartment Communities by 45.9% in the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock valued at $1,025,868,000 after purchasing an additional 2,088,143 shares in the last quarter. Norges Bank bought a new stake in shares of Mid-America Apartment Communities during the 4th quarter worth about $826,562,000. JPMorgan Chase & Co. boosted its stake in shares of Mid-America Apartment Communities by 26.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock worth $517,015,000 after acquiring an additional 708,125 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Mid-America Apartment Communities by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust’s stock worth $492,421,000 after acquiring an additional 52,050 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Mid-America Apartment Communities by 1.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,656,669 shares of the real estate investment trust’s stock worth $410,641,000 after acquiring an additional 40,436 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on MAA shares. Scotiabank upped their price target on Mid-America Apartment Communities from $182.00 to $194.00 and gave the stock a “sector outperform” rating in a research note on Monday. Royal Bank of Canada upped their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Jefferies Financial Group upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and upped their price target for the stock from $148.00 to $190.00 in a research note on Monday, March 10th. StockNews.com upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Wednesday, April 23rd. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.55.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 2,643 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $149.93, for a total transaction of $396,264.99. Following the sale, the chief executive officer now directly owns 319,813 shares in the company, valued at $47,949,563.09. This represents a 0.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amber Fairbanks sold 173 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the sale, the executive vice president now owns 3,012 shares in the company, valued at approximately $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,313 shares of company stock worth $1,171,707 in the last three months. Insiders own 1.20% of the company’s stock.

Mid-America Apartment Communities Trading Down 1.7%

Shares of MAA opened at $158.25 on Thursday. Mid-America Apartment Communities, Inc. has a 1 year low of $126.77 and a 1 year 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 50 day simple moving average of $160.63 and a 200-day simple moving average of $157.94. The stock has a market cap of $18.52 billion, a PE ratio of 35.32, a PEG ratio of 3.72 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The business had revenue of $549.30 million during the quarter, compared to analysts’ expectations of $551.21 million. During the same period in the prior year, the firm posted $2.22 EPS. Mid-America Apartment Communities’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a $1.515 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.83%. Mid-America Apartment Communities’s payout ratio is presently 126.25%.

Mid-America Apartment Communities Company 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.