Wellington Management Group LLP Raises Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wellington Management Group LLP lifted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 106.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,153 shares of the real estate investment trust's stock after buying an additional 48,574 shares during the period. Wellington Management Group LLP owned about 0.08% of Mid-America Apartment Communities worth $14,553,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $2,890,000. Metis Global Partners LLC increased its position in Mid-America Apartment Communities by 9.5% in the 4th quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust's stock valued at $2,670,000 after acquiring an additional 1,499 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Mid-America Apartment Communities by 2.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust's stock worth $28,711,000 after purchasing an additional 4,301 shares during the last quarter. Paradigm Asset Management Co. LLC raised its position in shares of Mid-America Apartment Communities by 1,582.9% during the fourth quarter. Paradigm Asset Management Co. LLC now owns 6,698 shares of the real estate investment trust's stock worth $1,035,000 after acquiring an additional 6,300 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its position in shares of Mid-America Apartment Communities by 27.1% in the 4th quarter. Capital Investment Advisors LLC now owns 58,484 shares of the real estate investment trust's stock worth $9,040,000 after purchasing an additional 12,454 shares during the period. Institutional investors and hedge funds own 93.60% of the company's stock.

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Analyst Ratings Changes

MAA has been the topic of a number of recent analyst reports. KeyCorp raised Mid-America Apartment Communities from a "sector weight" rating to an "overweight" rating and set a $180.00 price objective on the stock in a research note on Tuesday, December 17th. Scotiabank upgraded shares of Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and raised their price objective for the stock from $173.00 to $182.00 in a report on Friday, February 14th. Jefferies Financial Group raised Mid-America Apartment Communities from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $148.00 to $190.00 in a report on Monday, March 10th. Royal Bank of Canada boosted their target price on 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. Finally, Truist Financial increased their price target on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a "buy" rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $168.76.

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 4,358 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total value of $724,473.92. Following the completion of the transaction, the chief executive officer now owns 324,171 shares in the company, valued at $53,890,187.04. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 7,140 shares of company stock valued at $1,142,842 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Mid-America Apartment Communities Stock Up 1.4 %

Shares of NYSE:MAA traded up $2.22 on Monday, reaching $156.52. The company had a trading volume of 48,297 shares, compared to its average volume of 859,338. The firm's 50 day simple moving average is $161.35 and its 200-day simple moving average is $157.10. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities, Inc. has a 52-week low of $123.73 and a 52-week high of $173.38. The firm has a market capitalization of $18.30 billion, a PE ratio of 35.00, a PEG ratio of 3.72 and a beta of 0.79.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating 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%. As a group, analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities's dividend payout ratio is currently 135.27%.

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.