RNC Capital Management LLC Buys New Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA)

RNC Capital Management LLC bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,990 shares of the real estate investment trust's stock, valued at approximately $308,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new position in Mid-America Apartment Communities in the 3rd quarter valued at $2,890,000. Swedbank AB raised its holdings in shares of Mid-America Apartment Communities by 2.6% in the third quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust's stock valued at $32,350,000 after buying an additional 5,178 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Mid-America Apartment Communities by 2.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust's stock worth $28,711,000 after buying an additional 4,301 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $4,304,000. Finally, Capital Investment Advisors LLC increased its position in Mid-America Apartment Communities by 27.1% in the 4th quarter. Capital Investment Advisors LLC now owns 58,484 shares of the real estate investment trust's stock valued at $9,040,000 after acquiring an additional 12,454 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Trading Down 0.5 %

Shares of MAA traded down $0.86 during trading hours on Tuesday, reaching $156.00. The stock had a trading volume of 674,374 shares, compared to its average volume of 747,506. The company has a market cap of $18.23 billion, a P/E ratio of 34.82, a P/E/G ratio of 2.56 and a beta of 0.91. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39. The company has a quick ratio of 0.09, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average of $153.43 and a 200 day moving average of $155.59.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. On average, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.86 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th were paid a $1.515 dividend. The ex-dividend date was Wednesday, January 15th. This represents a $6.06 dividend on an annualized basis and a yield of 3.88%. This is a positive change from Mid-America Apartment Communities's previous quarterly dividend of $1.47. Mid-America Apartment Communities's payout ratio is presently 135.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MAA shares. Evercore ISI upped their target price on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an "in-line" rating in a research report on Monday. JMP Securities reaffirmed a "market outperform" rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday. BMO Capital Markets lowered their target price on Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating for the company in a research note on Tuesday, January 21st. Wells Fargo & Company cut their price target on Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating on the stock in a research note on Friday, January 24th. Finally, KeyCorp upgraded 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 report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $166.00.

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.