Calamos Advisors LLC Reduces Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Calamos Advisors LLC reduced its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 64,985 shares of the real estate investment trust’s stock after selling 849 shares during the period. Calamos Advisors LLC’s holdings in Mid-America Apartment Communities were worth $8,738,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Mid-America Apartment Communities by 1.0% in the 1st quarter. BlackRock Inc. now owns 11,362,466 shares of the real estate investment trust’s stock worth $1,716,187,000 after buying an additional 112,194 shares in the last quarter. FMR LLC boosted its stake in shares of Mid-America Apartment Communities by 12.2% during the 3rd quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock worth $702,125,000 after purchasing an additional 592,306 shares during the period. Norges Bank purchased a new position in shares of Mid-America Apartment Communities during the 4th quarter worth about $543,026,000. JPMorgan Chase & Co. boosted its stake in shares of Mid-America Apartment Communities by 41.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,251,030 shares of the real estate investment trust’s stock worth $491,036,000 after purchasing an additional 956,154 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Mid-America Apartment Communities by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 2,635,202 shares of the real estate investment trust’s stock worth $397,203,000 after purchasing an additional 60,949 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Trading Up 1.2 %

NYSE:MAA opened at $126.08 on Friday. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $158.46. 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 firm has a market cap of $14.72 billion, a P/E ratio of 26.77, a P/E/G ratio of 2.80 and a beta of 0.80. The firm has a 50-day simple moving average of $128.92 and a 200-day simple moving average of $128.63.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.93). The firm had revenue of $542.25 million for the quarter, compared to the consensus estimate of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The company’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.32 EPS. Equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $1.47 per share. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 annualized dividend and a dividend yield of 4.66%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 124.84%.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the transaction, the chief executive officer now owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 2,807 shares of company stock worth $353,955 in the last 90 days. 1.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

MAA has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $136.00 price target (down from $140.00) on shares of Mid-America Apartment Communities in a research note on Tuesday, January 2nd. Mizuho dropped their price target on shares of 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $139.00 price target for the company. Scotiabank raised shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the stock from $133.00 to $147.00 in a research note on Tuesday, January 16th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $149.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $143.18.

About Mid-America Apartment Communities

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.