Geode Capital Management LLC Has $492.42 Million Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Geode Capital Management LLC boosted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,193,188 shares of the real estate investment trust's stock after acquiring an additional 52,050 shares during the quarter. Geode Capital Management LLC owned 2.73% of Mid-America Apartment Communities worth $492,421,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Franklin Resources Inc. boosted its position in Mid-America Apartment Communities by 9.4% during the fourth quarter. Franklin Resources Inc. now owns 483,743 shares of the real estate investment trust's stock worth $74,772,000 after purchasing an additional 41,390 shares in the last quarter. Wellington Management Group LLP grew its stake in Mid-America Apartment Communities by 106.6% in the 4th quarter. Wellington Management Group LLP now owns 94,153 shares of the real estate investment trust's stock valued at $14,553,000 after acquiring an additional 48,574 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in Mid-America Apartment Communities by 12.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 6,315 shares of the real estate investment trust's stock worth $976,000 after acquiring an additional 675 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Mid-America Apartment Communities by 3.9% during the fourth quarter. Schroder Investment Management Group now owns 16,612 shares of the real estate investment trust's stock valued at $2,542,000 after purchasing an additional 622 shares in the last quarter. Finally, Allianz SE purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth about $1,063,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several research analysts recently commented on MAA shares. Barclays increased their price objective on Mid-America Apartment Communities from $152.00 to $163.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 19th. JMP Securities reiterated a "market outperform" rating and issued a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Morgan Stanley upgraded shares of Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $159.50 to $168.00 in a research report on Friday, January 24th. BMO Capital Markets cut their price objective on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating for the company in a report on Tuesday, January 21st. Finally, Mizuho lowered their target price on Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of "Moderate Buy" and a consensus target price of $168.90.

Insider Activity

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,643 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $149.93, for a total value 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 trade represents a 0.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 7,140 shares of company stock valued at $1,142,842. 1.30% of the stock is owned by insiders.

Mid-America Apartment Communities Stock Performance

MAA stock traded up $7.93 during trading on Wednesday, reaching $157.90. 2,457,589 shares of the company's stock were exchanged, compared to its average volume of 722,795. Mid-America Apartment Communities, Inc. has a 1-year low of $123.73 and a 1-year high of $173.38. The firm has a market cap of $18.46 billion, a PE ratio of 35.25, a P/E/G ratio of 3.72 and a beta of 0.79. The company's fifty day moving average price is $161.32 and its 200-day moving average price is $157.22. 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 (NYSE:MAA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. On average, research analysts expect 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. This represents a $6.06 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is 135.27%.

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.