Pictet Asset Management Holding SA Cuts Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Pictet Asset Management Holding SA lowered its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,707 shares of the real estate investment trust's stock after selling 2,783 shares during the period. Pictet Asset Management Holding SA owned approximately 0.06% of Mid-America Apartment Communities worth $11,238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new stake in Mid-America Apartment Communities during the 4th quarter valued at $826,562,000. JPMorgan Chase & Co. grew its holdings 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 valued at $517,015,000 after buying an additional 708,125 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth about $95,671,000. Aew Capital Management L P raised its holdings in shares of Mid-America Apartment Communities by 516.3% in the 4th quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust's stock worth $97,533,000 after acquiring an additional 528,608 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its position in Mid-America Apartment Communities by 271.3% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 289,188 shares of the real estate investment trust's stock valued at $44,700,000 after acquiring an additional 211,308 shares in the last quarter. Institutional investors own 93.60% of the company's stock.

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Insider Activity

In related news, CEO H Eric Bolton, Jr. sold 4,358 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 324,171 shares of the company's stock, valued at approximately $53,890,187.04. The trade was a 1.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders sold 7,140 shares of company stock worth $1,142,842. 1.30% of the stock is owned by corporate insiders.

Mid-America Apartment Communities Stock Performance

MAA traded down $2.10 during trading hours on Monday, hitting $150.98. The stock had a trading volume of 1,861,608 shares, compared to its average volume of 713,380. Mid-America Apartment Communities, Inc. has a 1 year low of $123.73 and a 1 year high of $173.38. The company's fifty day simple moving average is $161.08 and its 200 day simple moving average is $157.39. The stock has a market cap of $17.65 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 3.72 and a beta of 0.79. 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 earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share 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%. Equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities's payout ratio is currently 135.27%.

Wall Street Analyst Weigh In

A number of analysts have commented on MAA shares. Jefferies Financial Group raised Mid-America Apartment Communities from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $148.00 to $190.00 in a report on Monday, March 10th. Evercore ISI upped their price target on Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. Barclays raised 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. Raymond James lifted their price objective on shares of Mid-America Apartment Communities from $180.00 to $185.00 and gave the stock a "strong-buy" rating in a report on Thursday, March 20th. Finally, BMO Capital Markets lowered their target price 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. 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 issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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.