40,168 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Purchased by Ibex Wealth Advisors

Ibex Wealth Advisors acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 40,168 shares of the real estate investment trust's stock, valued at approximately $6,731,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CoreCap Advisors LLC grew its holdings in Mid-America Apartment Communities by 94.9% in the 4th quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 112 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 68 shares during the period. GoalVest Advisory LLC raised its holdings in Mid-America Apartment Communities by 200.0% during the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 160 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Mid-America Apartment Communities during the 4th quarter valued at $46,000. Finally, NBC Securities Inc. acquired a new stake in shares of Mid-America Apartment Communities during the first quarter worth $46,000. 93.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MAA shares. Wall Street Zen raised Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and lifted their target price for the stock from $148.00 to $190.00 in a research report on Monday, March 10th. JMP Securities lifted 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 report on Thursday, May 22nd. Mizuho reduced their price target on shares of 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. Finally, Truist Financial lowered 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 note on Wednesday, May 21st. One investment 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. According to data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of "Hold" and a consensus target price of $169.50.

Insider Activity

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the transaction, the executive vice president now directly owns 3,012 shares of the company's stock, valued at approximately $502,552.20. The trade was a 5.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the completion of the transaction, the chief executive officer now directly owns 319,813 shares in the company, valued at $47,949,563.09. This trade represents a 0.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,313 shares of company stock worth $1,171,707. 1.20% of the stock is currently owned by insiders.

Mid-America Apartment Communities Price Performance

NYSE:MAA traded down $1.67 during trading hours on Wednesday, reaching $150.19. 1,399,976 shares of the company were exchanged, compared to its average volume of 765,293. The business has a 50 day moving average of $157.09 and a 200 day moving average of $157.75. The company has a market capitalization of $17.58 billion, a P/E ratio of 33.53, a P/E/G ratio of 3.72 and a beta of 0.78. Mid-America Apartment Communities, Inc. has a 1-year low of $136.85 and a 1-year high of $173.38. 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 released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The company had revenue of $549.30 million for the quarter, compared to analysts' expectations of $551.21 million. During the same quarter in the prior year, the firm earned $2.22 EPS. The business's revenue was up 1.0% on a year-over-year basis. Research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be issued a dividend of $1.515 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 dividend on an annualized basis and a yield of 4.03%. Mid-America Apartment Communities's dividend payout ratio (DPR) is 126.25%.

Mid-America Apartment Communities 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.