Employees Retirement System of Texas Has $7.03 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Employees Retirement System of Texas lowered its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 30.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,477 shares of the real estate investment trust's stock after selling 20,000 shares during the quarter. Employees Retirement System of Texas' holdings in Mid-America Apartment Communities were worth $7,029,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. IFP Advisors Inc raised its position 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 purchasing an additional 68 shares during the period. Sanctuary Advisors LLC lifted its stake in Mid-America Apartment Communities by 0.6% in the 4th quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust's stock valued at $1,704,000 after acquiring an additional 69 shares in the last quarter. Huntington National Bank lifted its stake in Mid-America Apartment Communities by 6.4% in the 4th quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust's stock valued at $181,000 after acquiring an additional 70 shares in the last quarter. Keybank National Association OH lifted its stake in Mid-America Apartment Communities by 0.9% in the 4th quarter. Keybank National Association OH now owns 9,171 shares of the real estate investment trust's stock valued at $1,418,000 after acquiring an additional 85 shares in the last quarter. Finally, Sandy Spring Bank lifted its stake in Mid-America Apartment Communities by 25.2% in the 4th quarter. Sandy Spring Bank now owns 447 shares of the real estate investment trust's stock valued at $69,000 after acquiring an additional 90 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

MAA traded up $0.80 during trading on Friday, hitting $156.55. The stock had a trading volume of 1,329,352 shares, compared to its average volume of 752,710. The company has a 50 day moving average price of $159.14 and a 200-day moving average price of $158.15. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of 34.94, a P/E/G ratio of 3.72 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a one year low of $129.96 and a one 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 results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.04. The business had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The firm's quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.22 EPS. As a group, research analysts predict 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 announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given 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 dividend yield of 3.87%. Mid-America Apartment Communities's payout ratio is 126.25%.

Insider Activity

In other news, EVP Amber Fairbanks sold 173 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 3,012 shares in the company, valued at approximately $502,552.20. This represents a 5.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total value of $724,473.92. Following the sale, the chief executive officer now owns 324,171 shares of the company's stock, valued at approximately $53,890,187.04. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,313 shares of company stock worth $1,171,707. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on MAA. Scotiabank boosted their target price on Mid-America Apartment Communities from $182.00 to $194.00 and gave the company a "sector outperform" rating in a research note on Monday, May 12th. Evercore ISI boosted their target price on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Truist Financial cut their target price on 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. Mizuho cut their target price 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. Finally, Barclays boosted their price target on 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $169.50.

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.