California State Teachers Retirement System Sells 14,550 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

California State Teachers Retirement System lowered its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,002 shares of the real estate investment trust's stock after selling 14,550 shares during the period. California State Teachers Retirement System owned 0.13% of Mid-America Apartment Communities worth $23,186,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. IFP Advisors Inc raised its stake in Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 68 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Mid-America Apartment Communities by 0.6% in the fourth quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust's stock valued at $1,704,000 after purchasing an additional 69 shares during the last quarter. Huntington National Bank grew its stake in shares of Mid-America Apartment Communities by 6.4% in the fourth quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust's stock valued at $181,000 after buying an additional 70 shares in the last quarter. Keybank National Association OH raised its stake in Mid-America Apartment Communities by 0.9% in the fourth quarter. Keybank National Association OH now owns 9,171 shares of the real estate investment trust's stock valued at $1,418,000 after purchasing an additional 85 shares in the last quarter. Finally, Sandy Spring Bank grew its holdings in shares of Mid-America Apartment Communities by 25.2% during the fourth quarter. Sandy Spring Bank now owns 447 shares of the real estate investment trust's stock worth $69,000 after purchasing an additional 90 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mid-America Apartment Communities

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 sale, the executive vice president now directly owns 3,012 shares in the company, valued at $502,552.20. The trade was a 5.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of Mid-America Apartment Communities stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the sale, the chief executive officer now owns 319,813 shares in the company, valued at $47,949,563.09. This represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,313 shares of company stock valued at $1,171,707. 1.20% of the stock is currently owned by insiders.

Mid-America Apartment Communities Stock Down 2.3%

Shares of NYSE MAA traded down $3.65 during mid-day trading on Tuesday, reaching $152.02. 445,765 shares of the company's stock traded hands, compared to its average volume of 748,522. Mid-America Apartment Communities, Inc. has a 1-year low of $133.19 and a 1-year high of $173.38. The stock has a market cap of $17.80 billion, a P/E ratio of 33.93, a PEG ratio of 3.72 and a beta of 0.80. The business has a 50-day simple moving average of $158.96 and a 200 day simple moving average of $158.12. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.16 by $0.04. The company had revenue of $549.30 million during the quarter, compared to analysts' expectations of $551.21 million. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The firm's revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.22 EPS. On average, analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

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

Wall Street Analyst Weigh In

MAA has been the subject of several analyst reports. Barclays raised their target price on Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Evercore ISI upped their target price on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. Raymond James cut Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and cut their target price for the stock from $185.00 to $175.00 in a research note on Thursday, May 15th. Truist Financial cut their target price on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research report on Wednesday, May 21st. Finally, Scotiabank upped their price objective on Mid-America Apartment Communities from $182.00 to $194.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price 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.