Exchange Traded Concepts LLC Purchases 4,626 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Exchange Traded Concepts LLC raised its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 327.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,037 shares of the real estate investment trust's stock after buying an additional 4,626 shares during the period. Exchange Traded Concepts LLC's holdings in Mid-America Apartment Communities were worth $1,012,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Capital World Investors raised its position in shares of Mid-America Apartment Communities by 45.9% during the 4th quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock valued at $1,025,868,000 after buying an additional 2,088,143 shares in the last quarter. Norges Bank purchased a new position in Mid-America Apartment Communities in the 4th quarter worth $826,562,000. JPMorgan Chase & Co. raised its position in Mid-America Apartment Communities by 26.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust's stock worth $517,015,000 after purchasing an additional 708,125 shares during the period. Geode Capital Management LLC raised its position in Mid-America Apartment Communities by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust's stock worth $492,421,000 after purchasing an additional 52,050 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Mid-America Apartment Communities by 1.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,656,669 shares of the real estate investment trust's stock worth $410,641,000 after purchasing an additional 40,436 shares during the period. Hedge funds and other institutional investors own 93.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Barclays lifted their target price on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an "equal weight" rating in a research report on Friday, May 9th. Truist Financial decreased their target price on shares of 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. Wall Street Zen raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Friday, May 30th. JMP Securities raised their price target on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a report on Thursday, May 22nd. Finally, Mizuho cut 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of "Hold" and an average target price of $169.76.

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. sold 4,358 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total value of $724,473.92. Following the transaction, the chief executive officer now owns 324,171 shares in the company, valued at approximately $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 accessible through this link. 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 in the company, valued at approximately $502,552.20. This represents a 5.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,313 shares of company stock valued at $1,171,707 over the last quarter. Corporate insiders own 1.30% of the company's stock.

Mid-America Apartment Communities Stock Up 1.2%

NYSE:MAA traded up $1.71 during mid-day trading on Monday, hitting $150.27. 779,776 shares of the company's stock were exchanged, compared to its average volume of 776,331. Mid-America Apartment Communities, Inc. has a one year low of $137.51 and a one year high of $173.38. 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 business has a fifty day moving average price of $156.32 and a 200 day moving average price of $156.98. The company has a market cap of $17.59 billion, a PE ratio of 31.31, a P/E/G ratio of 3.80 and a beta of 0.78.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data 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. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. The business had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. During the same quarter in the previous year, the firm posted $2.22 earnings per share. Mid-America Apartment Communities's quarterly revenue was up 1.0% on a year-over-year basis. Equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 4.03%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's payout ratio is currently 126.25%.

Mid-America Apartment Communities Company Profile

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.