Massachusetts Financial Services Co. MA Buys 40,436 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Massachusetts Financial Services Co. MA boosted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 1.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,656,669 shares of the real estate investment trust's stock after acquiring an additional 40,436 shares during the quarter. Massachusetts Financial Services Co. MA owned 2.27% of Mid-America Apartment Communities worth $410,641,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of MAA. Norges Bank purchased a new stake in Mid-America Apartment Communities during the 4th quarter worth approximately $826,562,000. JPMorgan Chase & Co. grew its stake in shares of Mid-America Apartment Communities by 26.9% during the fourth 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 in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at about $95,671,000. Aew Capital Management L P boosted its stake in Mid-America Apartment Communities by 516.3% in the fourth 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 acquiring an additional 528,608 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of Mid-America Apartment Communities by 271.3% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 289,188 shares of the real estate investment trust's stock worth $44,700,000 after purchasing an additional 211,308 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

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Mid-America Apartment Communities Stock Down 0.8 %

MAA stock traded down $1.18 during mid-day trading on Monday, hitting $151.90. The stock had a trading volume of 624,187 shares, compared to its average volume of 708,843. Mid-America Apartment Communities, Inc. has a 1-year low of $123.73 and a 1-year high of $173.38. The company has a fifty day moving average of $161.14 and a 200 day moving average of $157.49. 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 stock has a market capitalization of $17.76 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 3.72 and a beta of 0.79.

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 EPS for the quarter, topping 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, equities analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a dividend of $1.515 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.06 annualized dividend and a yield of 3.99%. Mid-America Apartment Communities's dividend payout ratio (DPR) is 135.27%.

Insiders Place Their Bets

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 4,358 shares of the firm's 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 owns 324,171 shares in the company, valued at approximately $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 accessible through the SEC website. Insiders own 1.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MAA shares. BMO Capital Markets cut their price objective on Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating for the company in a research report on Tuesday, January 21st. Scotiabank raised shares of Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the stock from $173.00 to $182.00 in a report on Friday, February 14th. Jefferies Financial Group raised shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and increased their target price for the company from $148.00 to $190.00 in a report on Monday, March 10th. Wells Fargo & Company dropped their price objective on Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Finally, Evercore ISI raised their price target on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, nine have given 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.com, Mid-America Apartment Communities presently has an average rating of "Moderate Buy" and a consensus target price of $168.90.

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.