Russell Investments Group Ltd. Boosts Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Russell Investments Group Ltd. boosted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 200.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 455,640 shares of the real estate investment trust's stock after purchasing an additional 304,021 shares during the period. Russell Investments Group Ltd. owned about 0.39% of Mid-America Apartment Communities worth $70,300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MAA. State Street Corp lifted its holdings in Mid-America Apartment Communities by 0.9% in the third quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust's stock valued at $1,228,569,000 after acquiring an additional 65,696 shares during the period. Norges Bank purchased a new stake in Mid-America Apartment Communities during the fourth quarter valued at approximately $826,562,000. JPMorgan Chase & Co. raised its position in Mid-America Apartment Communities by 26.9% in 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 acquiring an additional 708,125 shares during the period. Geode Capital Management LLC increased its stake in shares of Mid-America Apartment Communities by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust's stock worth $492,421,000 after purchasing an additional 52,050 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Mid-America Apartment Communities by 1.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,656,669 shares of the real estate investment trust's stock worth $410,641,000 after purchasing an additional 40,436 shares during the period. Hedge funds and other institutional investors own 93.60% of the company's stock.

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Insiders Place Their Bets

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,643 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $149.93, for a total transaction of $396,264.99. Following the completion of the sale, the chief executive officer now directly owns 319,813 shares of the company's stock, valued at approximately $47,949,563.09. This represents a 0.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 7,140 shares of company stock worth $1,142,842 over the last 90 days. Company insiders own 1.30% of the company's stock.

Mid-America Apartment Communities Trading Down 1.3 %

Shares of NYSE MAA traded down $1.95 during mid-day trading on Friday, reaching $152.92. The company had a trading volume of 583,544 shares, compared to its average volume of 725,332. The stock has a market cap of $17.88 billion, a price-to-earnings ratio of 34.10, a price-to-earnings-growth ratio of 3.72 and a beta of 0.79. The business's 50-day moving average is $161.36 and its 200-day moving average is $157.16. Mid-America Apartment Communities, Inc. has a 52 week low of $123.73 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.

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

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be paid a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is 135.27%.

Wall Street Analysts Forecast Growth

MAA has been the topic of several recent research reports. Jefferies Financial Group raised Mid-America Apartment Communities from a "hold" rating to a "buy" rating and raised their price objective for the stock from $148.00 to $190.00 in a research note on Monday, March 10th. Wells Fargo & Company dropped their price target on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating for the company in a research report on Friday, January 24th. 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 on the stock in a research note on Tuesday, January 21st. Raymond James increased their price target on Mid-America Apartment Communities from $180.00 to $185.00 and gave the stock a "strong-buy" rating in a research note on Thursday, March 20th. Finally, Barclays upped their price objective on Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $168.90.

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.