Raymond James Trust N.A. increased its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 18.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,310 shares of the real estate investment trust’s stock after acquiring an additional 526 shares during the period. Raymond James Trust N.A.’s holdings in Mid-America Apartment Communities were worth $362,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Mid-America Apartment Communities by 2.1% in the 4th quarter. BlackRock Inc. now owns 11,359,757 shares of the real estate investment trust’s stock valued at $1,087,130,000 after purchasing an additional 238,613 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Mid-America Apartment Communities by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 1,833,523 shares of the real estate investment trust’s stock valued at $175,217,000 after purchasing an additional 142,096 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Mid-America Apartment Communities by 2.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,644,830 shares of the real estate investment trust’s stock valued at $157,411,000 after purchasing an additional 31,770 shares in the last quarter. Morgan Stanley raised its position in shares of Mid-America Apartment Communities by 8.8% in the 3rd quarter. Morgan Stanley now owns 1,591,653 shares of the real estate investment trust’s stock valued at $159,452,000 after purchasing an additional 129,006 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Mid-America Apartment Communities by 0.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,104,522 shares of the real estate investment trust’s stock valued at $110,651,000 after purchasing an additional 6,288 shares in the last quarter. 94.08% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Albert M. Campbell III sold 280 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $107.04, for a total transaction of $29,971.20. Following the completion of the transaction, the chief financial officer now directly owns 44,582 shares in the company, valued at approximately $4,772,057.28. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Thomas L. Grimes, Jr. sold 340 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $108.58, for a total value of $36,917.20. Following the transaction, the chief operating officer now owns 54,444 shares of the company’s stock, valued at $5,911,529.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,956 shares of company stock worth $527,800. Corporate insiders own 1.26% of the company’s stock.

A number of brokerages have issued reports on MAA. ValuEngine lowered Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Raymond James lowered Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $105.00 target price on the stock. in a research report on Thursday, April 4th. They noted that the move was a valuation call. Janney Montgomery Scott lowered Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $110.00 target price on the stock. in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. Zacks Investment Research lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Finally, BMO Capital Markets raised Mid-America Apartment Communities from a “market perform” rating to an “outperform” rating and upped their target price for the company from $102.00 to $120.00 in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $107.35.

MAA stock opened at $106.56 on Friday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.71. The company has a market cap of $12.14 billion, a P/E ratio of 17.64, a PEG ratio of 3.20 and a beta of 0.49. Mid-America Apartment Communities Inc has a 12-month low of $87.47 and a 12-month high of $111.10.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, January 30th. The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.55. The business had revenue of $398.15 million for the quarter, compared to analyst estimates of $399.19 million. Mid-America Apartment Communities had a return on equity of 3.41% and a net margin of 14.01%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.50 EPS. Sell-side analysts expect that Mid-America Apartment Communities Inc will post 6.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 63.58%.

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Mid-America Apartment Communities Company Profile

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

Further Reading: Why investors pay attention to retained earnings

Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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