Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,763 shares of the real estate investment trust's stock after selling 10,852 shares during the period. California Public Employees Retirement System owned 0.17% of Mid-America Apartment Communities worth $30,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth about $826,562,000. JPMorgan Chase & Co. grew 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 purchasing an additional 708,125 shares during the period. Raymond James Financial Inc. acquired a new stake in Mid-America Apartment Communities during the fourth quarter valued at $95,671,000. Aew Capital Management L P increased its stake in shares of Mid-America Apartment Communities by 516.3% in the 4th quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust's stock valued at $97,533,000 after purchasing an additional 528,608 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its position in shares of Mid-America Apartment Communities by 271.3% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 289,188 shares of the real estate investment trust's stock valued at $44,700,000 after buying an additional 211,308 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

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Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the company's 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 completion of the sale, the chief executive officer now owns 319,813 shares in the company, valued at $47,949,563.09. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 7,140 shares of company stock valued at $1,142,842 over the last quarter. 1.30% of the stock is currently owned by insiders.

Mid-America Apartment Communities Stock Performance

MAA traded down $2.10 during trading on Monday, hitting $150.98. 1,861,608 shares of the stock were exchanged, compared to its average volume of 713,380. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities, Inc. has a 1-year low of $123.73 and a 1-year high of $173.38. The stock has a fifty day moving average price of $161.08 and a two-hundred day moving average price of $157.39. The firm has a market capitalization of $17.65 billion, a P/E ratio of 33.70, a PEG ratio of 3.72 and a beta of 0.79.

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, beating analysts' consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. As a group, sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid 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 dividend yield of 4.01%. Mid-America Apartment Communities's dividend payout ratio (DPR) is 135.27%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Evercore ISI boosted their price objective on Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an "in-line" rating in a research note on Monday, February 10th. Scotiabank upgraded Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the company from $173.00 to $182.00 in a research report on Friday, February 14th. Morgan Stanley upgraded shares of Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $159.50 to $168.00 in a report on Friday, January 24th. Jefferies Financial Group raised Mid-America Apartment Communities from a "hold" rating to a "buy" rating and increased their target price for the stock from $148.00 to $190.00 in a research note on Monday, March 10th. Finally, Barclays raised their price target on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $168.90.

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.