Wellington Management Group LLP Buys 30,855 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wellington Management Group LLP increased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 323.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 40,385 shares of the real estate investment trust’s stock after purchasing an additional 30,855 shares during the quarter. Wellington Management Group LLP’s holdings in Mid-America Apartment Communities were worth $5,430,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First United Bank & Trust bought a new position in shares of Mid-America Apartment Communities during the 4th quarter worth about $27,000. First Financial Corp IN grew its stake in shares of Mid-America Apartment Communities by 40.8% in the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 86 shares during the period. CVA Family Office LLC acquired a new position in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $40,000. Emfo LLC bought a new position in shares of Mid-America Apartment Communities during the 4th quarter worth approximately $40,000. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in Mid-America Apartment Communities by 53.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 378 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 132 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MAA has been the subject of several recent analyst reports. Mizuho increased their price objective on Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Wells Fargo & Company increased their target price on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. Wedbush upgraded shares of Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $135.00 to $154.00 in a research report on Monday, May 6th. Morgan Stanley raised their price objective on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 15th. Finally, Truist Financial boosted their target price on Mid-America Apartment Communities from $148.00 to $156.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $142.44.

Insider Buying and Selling

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 2,807 shares of company stock valued at $353,955 over the last three months. Company insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Price Performance

Shares of MAA stock opened at $142.61 on Friday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $158.46. The firm has a market cap of $16.66 billion, a price-to-earnings ratio of 29.90, a PEG ratio of 3.13 and a beta of 0.84. The stock has a 50-day moving average price of $135.43 and a 200 day moving average price of $132.18.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The business had revenue of $543.60 million for the quarter, compared to the consensus estimate of $541.44 million. During the same period last year, the firm earned $2.28 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Research analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be given a $1.47 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $5.88 annualized dividend and a dividend yield of 4.12%. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Mid-America Apartment Communities Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.