Allstate Corp Makes New Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Allstate Corp bought a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,567 shares of the real estate investment trust's stock, valued at approximately $551,000.

Several other hedge funds have also added to or reduced their stakes in MAA. IFP Advisors Inc boosted its holdings in Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 68 shares during the period. Quarry LP acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at approximately $45,000. UMB Bank n.a. boosted its stake in shares of Mid-America Apartment Communities by 30.5% in the fourth quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 75 shares during the period. Catalyst Capital Advisors LLC grew its position in Mid-America Apartment Communities by 57.8% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock worth $56,000 after buying an additional 133 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Mid-America Apartment Communities during the 3rd quarter worth $63,000. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Trading Down 2.7 %

Shares of NYSE:MAA traded down $4.49 during mid-day trading on Thursday, reaching $163.51. 1,011,475 shares of the company's stock were exchanged, compared to its average volume of 705,643. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. Mid-America Apartment Communities, Inc. has a twelve month low of $123.73 and a twelve month high of $173.38. The firm has a market capitalization of $19.11 billion, a price-to-earnings ratio of 36.50, a PEG ratio of 3.72 and a beta of 0.90. The business's fifty day moving average price is $161.04 and its 200-day moving average price is $157.67.

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Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 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, research 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.515 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.06 annualized dividend and a yield of 3.71%. Mid-America Apartment Communities's payout ratio is 135.27%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. Barclays increased their price objective on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. Raymond James boosted their target price on shares of Mid-America Apartment Communities from $180.00 to $185.00 and gave the company a "strong-buy" rating in a research report on Thursday, March 20th. Scotiabank upgraded shares of Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and increased their price target for the stock from $173.00 to $182.00 in a research report on Friday, February 14th. Finally, KeyCorp upgraded shares of 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of "Moderate Buy" and an average price target of $168.90.

Insider Transactions at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 4,358 shares of Mid-America Apartment Communities stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total transaction of $724,473.92. Following the completion of the transaction, the chief executive officer now owns 324,171 shares of the company's stock, valued at $53,890,187.04. This trade represents a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.30% of the company's stock.

About Mid-America Apartment Communities

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.