Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Bought by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 238.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,801 shares of the real estate investment trust's stock after purchasing an additional 3,381 shares during the period. Kestra Private Wealth Services LLC's holdings in Mid-America Apartment Communities were worth $805,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Diversify Advisory Services LLC purchased a new stake in shares of Mid-America Apartment Communities during the 1st quarter valued at approximately $244,000. Jennison Associates LLC purchased a new stake in Mid-America Apartment Communities during the 1st quarter worth about $558,000. Saturna Capital Corp grew its position in shares of Mid-America Apartment Communities by 23.3% during the first quarter. Saturna Capital Corp now owns 3,490 shares of the real estate investment trust's stock worth $585,000 after buying an additional 660 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Mid-America Apartment Communities by 11.9% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 3,556 shares of the real estate investment trust's stock valued at $596,000 after purchasing an additional 379 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in Mid-America Apartment Communities by 107.1% in the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 91 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Scotiabank dropped their price objective on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a report on Friday, June 13th. Wall Street Zen raised Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Mizuho dropped their price target on Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. The Goldman Sachs Group lowered Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price target on the stock. in a research report on Friday, July 11th. Finally, Raymond James Financial downgraded Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities has a consensus rating of "Hold" and an average target price of $168.81.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock traded up $0.07 during trading hours on Friday, reaching $151.75. 560,418 shares of the company's stock were exchanged, compared to its average volume of 860,699. 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 company's 50 day moving average is $151.35 and its two-hundred day moving average is $156.20. The company has a market cap of $17.76 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 3.88 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 1 year low of $139.60 and a 1 year high of $173.38.

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 the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The firm had revenue of $549.30 million during the quarter, compared to analysts' expectations of $551.21 million. During the same quarter in the prior year, the business posted $2.22 earnings per share. Mid-America Apartment Communities's revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

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. This represents a $6.06 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio is currently 126.25%.

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 shares were sold at an average price of $166.85, for a total value of $28,865.05. Following the completion of the transaction, the executive vice president directly owned 3,012 shares of the company's stock, valued at approximately $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.20% of the company's stock.

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.