Lord Abbett & CO. LLC Sells 27,000 Shares of Mid-America Apartment Communities Inc (MAA)

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Lord Abbett & CO. LLC decreased its stake in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 54.3% during the fourth quarter, HoldingsChannel reports. The firm owned 22,700 shares of the real estate investment trust’s stock after selling 27,000 shares during the period. Lord Abbett & CO. LLC’s holdings in Mid-America Apartment Communities were worth $2,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Mid-America Apartment Communities by 2.1% during the 4th quarter. BlackRock Inc. now owns 11,359,757 shares of the real estate investment trust’s stock worth $1,087,130,000 after purchasing an additional 238,613 shares in the last quarter. Deutsche Bank AG increased its stake in Mid-America Apartment Communities by 17.8% in the 3rd quarter. Deutsche Bank AG now owns 2,376,730 shares of the real estate investment trust’s stock worth $238,097,000 after acquiring an additional 358,406 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 worth $175,217,000 after acquiring an additional 142,096 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in 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 worth $157,411,000 after acquiring an additional 31,770 shares during the last quarter. Finally, Morgan Stanley increased its stake in 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 worth $159,452,000 after acquiring an additional 129,006 shares during the last quarter. 92.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of Mid-America Apartment Communities stock opened at $107.94 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market cap of $12.28 billion, a PE ratio of 17.85, a PEG ratio of 3.32 and a beta of 0.49. Mid-America Apartment Communities Inc has a 12 month low of $86.61 and a 12 month high of $109.19.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, January 30th. The real estate investment trust reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. The firm 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 company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.50 EPS. Research analysts forecast that Mid-America Apartment Communities Inc will post 6.18 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a dividend of $0.96 per share. The ex-dividend date is Friday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.56%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 63.58%.

A number of brokerages have weighed in on MAA. Zacks Investment Research upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. ValuEngine upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research note on Tuesday, December 18th. KeyCorp set a $108.00 target price on Mid-America Apartment Communities and gave the stock a “buy” rating in a research note on Thursday, December 20th. Barclays restated a “buy” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, January 23rd. Finally, TheStreet upgraded Mid-America Apartment Communities from a “c+” rating to a “b-” rating in a research note on Thursday, February 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus target price of $105.06.

In other news, CEO H Eric Bolton, Jr. sold 338 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $107.04, for a total transaction of $36,179.52. Following the transaction, the chief executive officer now directly owns 222,316 shares in the company, valued at approximately $23,796,704.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider H Eric Bolton, Jr. sold 262 shares of the stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $97.84, for a total value of $25,634.08. Following the transaction, the insider now owns 224,347 shares in the company, valued at $21,950,110.48. The disclosure for this sale can be found here. Insiders have sold a total of 3,942 shares of company stock worth $404,628 over the last quarter. Corporate insiders own 1.26% of the company’s stock.

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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 Communities, and Non-Same Store and Other segments. The Same Store Communities segment focuses on communities that the company has owned and have been stabilized for at least a full twelve months as of the first day of the calendar year.

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

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