Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Bought by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC grew its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,026 shares of the real estate investment trust's stock after purchasing an additional 2,028 shares during the quarter. Mid-America Apartment Communities makes up 1.1% of Baker Ellis Asset Management LLC's holdings, making the stock its 27th biggest holding. Baker Ellis Asset Management LLC's holdings in Mid-America Apartment Communities were worth $7,713,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Virginia Wealth Management Group Inc. boosted its holdings in Mid-America Apartment Communities by 0.6% in the first quarter. Virginia Wealth Management Group Inc. now owns 30,717 shares of the real estate investment trust's stock valued at $5,148,000 after acquiring an additional 192 shares during the last quarter. Alhambra Investment Management LLC raised its holdings in shares of Mid-America Apartment Communities by 3.1% in the 1st quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust's stock worth $363,000 after acquiring an additional 66 shares during the last quarter. CX Institutional bought a new position in shares of Mid-America Apartment Communities in the first quarter valued at approximately $153,000. Integrated Advisors Network LLC bought a new position in Mid-America Apartment Communities during the 1st quarter valued at $2,971,000. Finally, SG Americas Securities LLC lifted its position in shares of Mid-America Apartment Communities by 94.1% during the first quarter. SG Americas Securities LLC now owns 6,229 shares of the real estate investment trust's stock valued at $1,044,000 after purchasing an additional 3,020 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 4,358 shares of the company's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total value of $724,473.92. Following the completion of the sale, the chief executive officer now owns 324,171 shares in the company, valued at $53,890,187.04. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Amber Fairbanks sold 173 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was 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 now owns 3,012 shares of the company's stock, valued at approximately $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,313 shares of company stock worth $1,171,707. 1.20% of the stock is owned by insiders.

Mid-America Apartment Communities Stock Up 0.2%

Shares of NYSE:MAA traded up $0.33 during midday trading on Thursday, reaching $150.69. The company's stock had a trading volume of 430,814 shares, compared to its average volume of 764,004. The firm has a market capitalization of $17.64 billion, a P/E ratio of 33.64, a PEG ratio of 3.72 and a beta of 0.78. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities, Inc. has a 12-month low of $136.85 and a 12-month high of $173.38. The firm has a 50 day moving average of $157.09 and a 200-day moving average of $157.75.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.04. The firm 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 8.53% and a net margin of 24.03%. The company's revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $2.22 earnings per share. On average, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MAA. JMP Securities boosted their price objective on Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 22nd. Wall Street Zen upgraded shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Scotiabank boosted their target price on Mid-America Apartment Communities from $182.00 to $194.00 and gave the stock a "sector outperform" rating in a research report on Monday, May 12th. Mizuho decreased their price target on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Finally, Truist Financial decreased their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities currently has a consensus rating of "Hold" and a consensus price target of $169.50.

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.