Zacks Investment Management Has $16.82 Million Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Zacks Investment Management trimmed its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 12.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MAA. NewEdge Advisors LLC raised its holdings in Mid-America Apartment Communities by 117.7% during the fourth quarter. NewEdge Advisors LLC now owns 973 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 526 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth about $309,000. Ontario Teachers Pension Plan Board raised its holdings in shares of Mid-America Apartment Communities by 48.8% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 24,263 shares of the real estate investment trust’s stock worth $3,750,000 after acquiring an additional 7,956 shares during the last quarter. Rossby Financial LCC bought a new position in Mid-America Apartment Communities in the 4th quarter valued at about $475,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in Mid-America Apartment Communities during the 4th quarter valued at about $100,000. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Price Performance

MAA opened at $153.89 on Thursday. The company has a market capitalization of $17.99 billion, a price-to-earnings ratio of 34.35, a PEG 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. The firm has a 50-day moving average price of $161.21 and a 200-day moving average price of $157.06. Mid-America Apartment Communities, Inc. has a twelve month low of $123.84 and a twelve month high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data 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 net margin of 24.03% and a return on equity of 8.53%. Equities analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.515 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a yield of 3.94%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 135.27%.

Wall Street Analysts Forecast Growth

MAA has been the subject of several analyst reports. StockNews.com downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Monday. Raymond James increased their price target on 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 dropped their price objective on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and upped their target price for the stock from $173.00 to $182.00 in a research note on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and boosted their price target for the stock from $148.00 to $190.00 in a report on Monday, March 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Mid-America Apartment Communities currently has an average rating of “Moderate Buy” and an average target price of $168.76.

Insiders Place Their Bets

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the company’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the transaction, the chief executive officer now 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 document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 7,140 shares of company stock worth $1,142,842 in the last quarter. 1.30% of the stock is owned by company insiders.

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.