5,189 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Acquired by WESPAC Advisors LLC

WESPAC Advisors LLC bought a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,189 shares of the real estate investment trust's stock, valued at approximately $870,000.

Several other hedge funds have also modified their holdings of MAA. CoreCap Advisors LLC raised its stake in shares of Mid-America Apartment Communities by 94.9% during the 4th quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 112 shares in the last quarter. GoalVest Advisory LLC raised its stake in shares of Mid-America Apartment Communities by 200.0% during the 1st quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 160 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Mid-America Apartment Communities during the 4th quarter worth about $46,000. NBC Securities Inc. purchased a new stake in shares of Mid-America Apartment Communities during the 1st quarter worth about $46,000. Finally, Wayfinding Financial LLC purchased a new stake in shares of Mid-America Apartment Communities during the 1st quarter worth about $60,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Mid-America Apartment Communities Price Performance

Shares of Mid-America Apartment Communities stock traded down $0.37 during midday trading on Friday, hitting $150.73. 940,004 shares of the company were exchanged, compared to its average volume of 804,472. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market cap of $17.64 billion, a P/E ratio of 31.40, a PEG ratio of 3.87 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 52 week low of $138.89 and a 52 week high of $173.38. The firm has a 50 day simple moving average of $153.68 and a 200-day simple moving average of $156.35.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, topping the consensus estimate of $2.16 by $0.04. The business had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. Mid-America Apartment Communities's revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $2.22 EPS. Research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a $1.515 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.02%. Mid-America Apartment Communities's payout ratio is 126.25%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MAA. Mizuho cut their price target on Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Wall Street Zen downgraded Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Truist Financial cut their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Robert W. Baird raised their price objective 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. Finally, JMP Securities raised their price objective on Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $168.71.

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.