IRON Financial LLC Increases Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

IRON Financial LLC raised its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 73.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,061 shares of the real estate investment trust's stock after purchasing an additional 2,147 shares during the quarter. IRON Financial LLC's holdings in Mid-America Apartment Communities were worth $848,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital World Investors raised its stake in 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 purchasing an additional 2,088,143 shares during the period. Norges Bank purchased a new position in shares of Mid-America Apartment Communities in the fourth quarter worth $826,562,000. JPMorgan Chase & Co. lifted its holdings in shares of Mid-America Apartment Communities by 26.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust's stock worth $517,015,000 after buying an additional 708,125 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Mid-America Apartment Communities by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust's stock worth $492,421,000 after acquiring an additional 52,050 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Mid-America Apartment Communities by 1.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,656,669 shares of the real estate investment trust's stock valued at $410,641,000 after acquiring an additional 40,436 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on MAA. Robert W. Baird boosted their price target on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. JMP Securities raised 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. Scotiabank decreased their target price on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a research report on Friday, June 13th. Mizuho dropped their price target on 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 cut their price target on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $169.76.

Mid-America Apartment Communities Stock Performance

NYSE:MAA traded up $0.12 during mid-day trading on Monday, hitting $147.97. The company's stock had a trading volume of 825,894 shares, compared to its average volume of 788,008. The business's fifty day moving average is $155.68 and its two-hundred day moving average is $156.67. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 3.78 and a beta of 0.78. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.11 and a quick ratio of 0.11. Mid-America Apartment Communities, Inc. has a 1 year low of $137.51 and a 1 year high of $180.00.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 EPS for the quarter, topping analysts' consensus estimates of $2.16 by $0.04. The firm had revenue of $549.30 million for the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The company's revenue was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.22 earnings per share. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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 dividend yield of 4.10%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is 126.25%.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, EVP Amber Fairbanks sold 173 shares of the firm'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 sale, the executive vice president owned 3,012 shares in the company, valued at approximately $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $724,473.92. Following the completion of the transaction, the chief executive officer owned 324,171 shares of the company's stock, valued at approximately $53,890,187.04. This trade represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,313 shares of company stock valued at $1,171,707. Company insiders own 1.30% of the company's stock.

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.