Zacks Investment Management Sells 14,952 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Zacks Investment Management lowered its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 12.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,800 shares of the real estate investment trust's stock after selling 14,952 shares during the quarter. Zacks Investment Management owned 0.09% of Mid-America Apartment Communities worth $16,817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MAA. IFP Advisors Inc grew its position in shares of Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after buying an additional 68 shares during the last quarter. Headlands Technologies LLC bought a new position in Mid-America Apartment Communities during the 4th quarter worth approximately $46,000. UMB Bank n.a. boosted 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 purchasing an additional 75 shares during the last quarter. Catalyst Capital Advisors LLC raised its stake in Mid-America Apartment Communities by 57.8% during the fourth quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust's stock worth $56,000 after buying an additional 133 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Mid-America Apartment Communities in the third quarter valued at $63,000. Institutional investors own 93.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MAA shares. Scotiabank raised Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and boosted their price objective for the company from $173.00 to $182.00 in a research note on Friday, February 14th. Barclays cut their price target on Mid-America Apartment Communities from $163.00 to $160.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. JMP Securities reiterated a "market outperform" rating and issued a $160.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, February 11th. Truist Financial increased their target price on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a "buy" rating in a research note on Monday, March 10th. Finally, BMO Capital Markets decreased their price target on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating for the company in a research note on Tuesday, January 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of "Moderate Buy" and an average target price of $168.76.

Insider Activity at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 4,358 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total transaction of $724,473.92. Following the completion of the sale, the chief executive officer now owns 324,171 shares of the company's stock, valued at approximately $53,890,187.04. This represents a 1.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 7,140 shares of company stock worth $1,142,842 in the last ninety days. 1.30% of the stock is owned by company insiders.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA traded up $4.71 during midday trading on Tuesday, reaching $159.53. The company had a trading volume of 110,948 shares, compared to its average volume of 734,798. The stock has a market cap of $18.65 billion, a P/E ratio of 35.62, a P/E/G ratio of 3.72 and a beta of 0.79. 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 $125.55 and a 52-week high of $173.38. The company's 50 day moving average price is $161.21 and its 200 day moving average price is $157.06.

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 (EPS) for the quarter, beating analysts' consensus estimates 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%. As a group, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS 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. Stockholders 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 dividend yield of 3.80%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 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.