Envestnet Asset Management Inc. Sells 4,762 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Envestnet Asset Management Inc. lessened its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 205,865 shares of the real estate investment trust's stock after selling 4,762 shares during the period. Envestnet Asset Management Inc. owned 0.18% of Mid-America Apartment Communities worth $31,821,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of MAA. Resona Asset Management Co. Ltd. acquired a new position in Mid-America Apartment Communities during the 4th quarter worth about $10,012,000. Huntington National Bank boosted its holdings in Mid-America Apartment Communities by 6.4% in the fourth quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust's stock valued at $181,000 after acquiring an additional 70 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in 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 purchasing an additional 40,436 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $46,000. Finally, Geode Capital Management LLC increased its position in shares of Mid-America Apartment Communities by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust's stock worth $492,421,000 after buying an additional 52,050 shares during the period. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock traded up $3.16 during trading on Friday, reaching $156.98. 895,687 shares of the company's stock traded hands, compared to its average volume of 738,322. Mid-America Apartment Communities, Inc. has a 1 year low of $124.01 and a 1 year high of $173.38. The company has a market capitalization of $18.35 billion, a P/E ratio of 35.04, a PEG ratio of 3.72 and a beta of 0.79. 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 firm's 50-day moving average is $161.21 and its 200 day moving average is $157.05.

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 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%. Equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm 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 $1.515 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.86%. Mid-America Apartment Communities's payout ratio is currently 135.27%.

Insider Activity at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 4,358 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total transaction of $724,473.92. Following the transaction, the chief executive officer now directly owns 324,171 shares in the company, valued at approximately $53,890,187.04. This represents a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 7,140 shares of company stock valued at $1,142,842 over the last three months. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MAA has been the subject of a number of recent analyst reports. Morgan Stanley upgraded Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $159.50 to $168.00 in a report on Friday, January 24th. JMP Securities reaffirmed a "market outperform" rating and set a $160.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Wells Fargo & Company dropped their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Mizuho reduced their price target on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating for the company in a report on Monday, January 6th. Finally, Royal Bank of Canada increased their price objective on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has a consensus rating of "Moderate Buy" and a consensus target price of $168.76.

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.