Wellington Management Group LLP Boosts Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wellington Management Group LLP lifted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 118.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,530 shares of the real estate investment trust’s stock after buying an additional 5,160 shares during the period. Wellington Management Group LLP’s holdings in Mid-America Apartment Communities were worth $1,226,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MAA. Murphy Middleton Hinkle & Parker Inc. boosted its position in Mid-America Apartment Communities by 3.8% in the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 1,910 shares of the real estate investment trust’s stock worth $300,000 after purchasing an additional 70 shares during the last quarter. Cape ANN Savings Bank grew its position in Mid-America Apartment Communities by 2.5% during the second quarter. Cape ANN Savings Bank now owns 3,339 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 80 shares during the period. Pathstone Family Office LLC increased its holdings in Mid-America Apartment Communities by 2.4% during the third quarter. Pathstone Family Office LLC now owns 3,425 shares of the real estate investment trust’s stock worth $531,000 after buying an additional 80 shares during the last quarter. Glenmede Trust Co. NA raised its position in Mid-America Apartment Communities by 6.1% in the third quarter. Glenmede Trust Co. NA now owns 1,463 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 84 shares during the period. Finally, Horizon Investments LLC boosted its stake in Mid-America Apartment Communities by 3.8% in the first quarter. Horizon Investments LLC now owns 2,813 shares of the real estate investment trust’s stock valued at $586,000 after acquiring an additional 104 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Trading Up 0.6 %

Shares of MAA stock opened at $131.58 on Friday. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The business’s fifty day moving average is $129.20 and its 200 day moving average is $129.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $15.36 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 4.12 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.93). The business had revenue of $542.25 million during the quarter, compared to analysts’ expectations of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The business’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.32 EPS. On average, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.94 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities’s payout ratio is 124.84%.

Insider Activity

In related news, CEO H Eric Bolton, Jr. sold 4,028 shares of the company’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the transaction, the chief executive officer now directly owns 304,523 shares in the company, valued at $39,651,939.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO H Eric Bolton, Jr. sold 4,028 shares of the company’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the transaction, the chief executive officer now directly owns 304,523 shares in the company, valued at approximately $39,651,939.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Melanie Carpenter sold 371 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $131.33, for a total value of $48,723.43. Following the transaction, the executive vice president now directly owns 19,067 shares in the company, valued at $2,504,069.11. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.

Wall Street Analyst Weigh In

MAA has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price target on the stock. Mizuho cut their price target on Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Royal Bank of Canada restated a “sector perform” rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. The Goldman Sachs Group reiterated a “buy” rating and set a $149.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Finally, Truist Financial raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and boosted their price target for the company from $154.00 to $158.00 in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and an average target price of $143.76.

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.