Synovus Financial Corp Sells 4,400 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Synovus Financial Corp trimmed its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 14.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,363 shares of the real estate investment trust's stock after selling 4,400 shares during the period. Synovus Financial Corp's holdings in Mid-America Apartment Communities were worth $3,920,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. IFP Advisors Inc increased its holdings in Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 68 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $46,000. UMB Bank n.a. increased its stake in shares of Mid-America Apartment Communities by 30.5% in the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 75 shares during the period. Catalyst Capital Advisors LLC lifted its position in Mid-America Apartment Communities by 57.8% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock valued at $56,000 after purchasing an additional 133 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Mid-America Apartment Communities in the third quarter valued at approximately $63,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Mid-America Apartment Communities Stock Up 2.1 %

Shares of MAA traded up $3.16 during trading hours on Friday, reaching $156.98. 895,687 shares of the stock traded hands, compared to its average volume of 737,209. Mid-America Apartment Communities, Inc. has a 52 week low of $125.17 and a 52 week high of $173.38. 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 fifty day simple moving average of $161.23 and a 200 day simple moving average of $157.05. The company has a market cap of $18.35 billion, a price-to-earnings ratio of 35.04, a PEG ratio of 3.72 and a beta of 0.79.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its earnings results 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 return on equity of 8.53% and a net margin of 24.03%. On average, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.86%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is 135.27%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MAA. StockNews.com lowered Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a report on Monday, April 14th. Raymond James raised their target price on shares of Mid-America Apartment Communities from $180.00 to $185.00 and gave the company a "strong-buy" rating in a research report on Thursday, March 20th. Wells Fargo & Company decreased their target price on shares of 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. Mizuho cut 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 research note on Monday, January 6th. Finally, Royal Bank of Canada upped their price objective on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a "sector perform" rating in a research note on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $168.76.

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.