Wells Fargo & Company MN Has $31.92 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wells Fargo & Company MN decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 206,515 shares of the real estate investment trust's stock after selling 3,127 shares during the quarter. Wells Fargo & Company MN owned about 0.18% of Mid-America Apartment Communities worth $31,921,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the business. Huntington National Bank increased its stake in shares of Mid-America Apartment Communities by 6.4% in the fourth quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust's stock worth $181,000 after purchasing an additional 70 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 buying an additional 40,436 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Mid-America Apartment Communities during the fourth quarter valued at $46,000. Geode Capital Management LLC lifted its holdings in Mid-America Apartment Communities by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust's stock valued at $492,421,000 after purchasing an additional 52,050 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Mid-America Apartment Communities by 9.4% in the 4th quarter. Franklin Resources Inc. now owns 483,743 shares of the real estate investment trust's stock worth $74,772,000 after acquiring an additional 41,390 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.

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Mid-America Apartment Communities Stock Up 0.6 %

Shares of MAA stock traded up $0.94 during trading hours on Wednesday, hitting $155.83. 471,723 shares of the company were exchanged, compared to its average volume of 876,591. The company has a market capitalization of $18.22 billion, a PE ratio of 34.78, a PEG ratio of 3.72 and a beta of 0.79. Mid-America Apartment Communities, Inc. has a 52 week low of $123.84 and a 52 week high of $173.38. The business has a 50 day moving average of $161.29 and a two-hundred day moving average of $157.09. 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 released its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 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%. Analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 dividend yield of 3.89%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities's dividend payout ratio is currently 135.27%.

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $149.93, for a total transaction of $396,264.99. Following the sale, the chief executive officer now owns 319,813 shares in the company, valued at $47,949,563.09. This represents a 0.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders have sold 7,140 shares of company stock worth $1,142,842. Corporate insiders own 1.30% of the company's stock.

Analyst Upgrades and Downgrades

MAA has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and boosted their target price for the stock from $148.00 to $190.00 in a research note on Monday, March 10th. Scotiabank raised Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the stock from $173.00 to $182.00 in a report on Friday, February 14th. Mizuho decreased their price objective on Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating on the stock in a research report on Monday, January 6th. 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, Morgan Stanley upgraded Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $159.50 to $168.00 in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.