GAMMA Investing LLC Grows Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

GAMMA Investing LLC raised its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 22,463.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 581,000 shares of the real estate investment trust's stock after purchasing an additional 578,425 shares during the period. GAMMA Investing LLC owned about 0.50% of Mid-America Apartment Communities worth $97,364,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Blue Trust Inc. grew its stake in Mid-America Apartment Communities by 23.5% in the 4th quarter. Blue Trust Inc. now owns 2,309 shares of the real estate investment trust's stock valued at $367,000 after acquiring an additional 440 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Mid-America Apartment Communities by 12.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,792 shares of the real estate investment trust's stock valued at $1,514,000 after purchasing an additional 1,081 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $158,000. CENTRAL TRUST Co increased its stake in shares of Mid-America Apartment Communities by 60.0% during the 4th quarter. CENTRAL TRUST Co now owns 4,216 shares of the real estate investment trust's stock worth $652,000 after purchasing an additional 1,581 shares in the last quarter. Finally, Alliance Wealth Advisors LLC UT increased its stake in shares of Mid-America Apartment Communities by 2.6% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 22,531 shares of the real estate investment trust's stock worth $3,483,000 after purchasing an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

Insiders Place Their Bets

In other news, EVP Amber Fairbanks sold 173 shares of the business's stock in a transaction dated 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 sale, the executive vice president now owns 3,012 shares in the company, 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 this link. Also, CEO H Eric Bolton, Jr. sold 2,643 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $149.93, for a total transaction of $396,264.99. Following the sale, the chief executive officer now directly owns 319,813 shares of the company's stock, valued at approximately $47,949,563.09. This trade represents a 0.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,313 shares of company stock worth $1,171,707 over the last three months. 1.20% of the stock is owned by insiders.

Analysts Set New Price Targets

MAA has been the topic of a number of recent research reports. JMP Securities upped their target price on Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a research note on Thursday, May 22nd. Raymond James downgraded Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the company from $185.00 to $175.00 in a research report on Thursday, May 15th. Royal Bank of Canada increased their price objective on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a "sector perform" rating in a research note on Friday, February 7th. Truist Financial dropped their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. Finally, Evercore ISI upped their target price on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an "in-line" rating in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $169.50.

Mid-America Apartment Communities Trading Down 2.0%

Mid-America Apartment Communities stock traded down $3.11 during trading on Tuesday, reaching $152.56. The company had a trading volume of 1,252,782 shares, compared to its average volume of 751,653. Mid-America Apartment Communities, Inc. has a 12-month low of $133.19 and a 12-month high of $173.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The stock's 50 day moving average price is $158.96 and its two-hundred day moving average price is $158.12. The firm has a market capitalization of $17.86 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 3.72 and a beta of 0.80.

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

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 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.