Oak Thistle LLC Makes New $709,000 Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Oak Thistle LLC acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,230 shares of the real estate investment trust's stock, valued at approximately $709,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MAA. Principal Financial Group Inc. raised its holdings in Mid-America Apartment Communities by 1.5% during the 1st quarter. Principal Financial Group Inc. now owns 192,228 shares of the real estate investment trust's stock worth $32,214,000 after buying an additional 2,800 shares during the period. Aurora Investment Counsel acquired a new position in shares of Mid-America Apartment Communities during the first quarter worth about $1,929,000. Summit Trail Advisors LLC grew its holdings in shares of Mid-America Apartment Communities by 106.9% during the first quarter. Summit Trail Advisors LLC now owns 4,401 shares of the real estate investment trust's stock worth $738,000 after buying an additional 2,274 shares in the last quarter. Starwood Capital Group Management L.L.C. raised its position in Mid-America Apartment Communities by 17.7% in the 4th quarter. Starwood Capital Group Management L.L.C. now owns 219,407 shares of the real estate investment trust's stock valued at $33,914,000 after buying an additional 33,000 shares during the last quarter. Finally, Stratos Wealth Partners LTD. lifted its position in shares of Mid-America Apartment Communities by 92.0% in the first quarter. Stratos Wealth Partners LTD. now owns 28,134 shares of the real estate investment trust's stock worth $4,715,000 after purchasing an additional 13,482 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MAA has been the subject of a number of analyst reports. Robert W. Baird raised their price target on Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Truist Financial dropped their price target on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. The Goldman Sachs Group downgraded shares of Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price target for the company. in a research report on Friday, July 11th. Wall Street Zen upgraded shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Scotiabank lowered their target price on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating for the company in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $168.81.

Mid-America Apartment Communities Stock Up 0.0%

MAA traded up $0.07 during midday trading on Friday, hitting $151.75. The company had a trading volume of 560,418 shares, compared to its average volume of 860,699. The stock's 50 day moving average price is $151.35 and its 200 day moving average price is $156.20. Mid-America Apartment Communities, Inc. has a 52 week low of $139.60 and a 52 week high of $173.38. The company has a market capitalization of $17.76 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.88 and a beta of 0.75. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $0.04. The business had revenue of $549.30 million during the quarter, compared to analyst estimates of $551.21 million. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The firm's revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.22 EPS. On average, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be given a $1.515 dividend. This represents a $6.06 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's payout ratio is currently 126.25%.

Insider Buying and Selling

In other news, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the transaction, the executive vice president directly owned 3,012 shares in the company, valued at $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.20% of the company's stock.

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 and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.