Summit Trail Advisors LLC Grows Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Summit Trail Advisors LLC increased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 106.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,401 shares of the real estate investment trust's stock after acquiring an additional 2,274 shares during the period. Summit Trail Advisors LLC's holdings in Mid-America Apartment Communities were worth $738,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. CoreCap Advisors LLC boosted its position in Mid-America Apartment Communities by 94.9% during the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 112 shares during the period. IFP Advisors Inc boosted its holdings in shares of Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock worth $39,000 after buying an additional 68 shares during the period. GoalVest Advisory LLC grew its stake in Mid-America Apartment Communities by 200.0% in the 1st quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 160 shares during the last quarter. Headlands Technologies LLC bought a new position in Mid-America Apartment Communities in the 4th quarter valued at about $46,000. Finally, NBC Securities Inc. acquired a new stake in Mid-America Apartment Communities during the first quarter worth approximately $46,000. 93.60% of the stock is owned by institutional investors.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction that occurred on 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 in the company, valued at approximately $502,552.20. The trade was a 5.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO H Eric Bolton, Jr. sold 4,358 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total transaction of $724,473.92. Following the sale, the chief executive officer directly owned 324,171 shares in the company, valued at $53,890,187.04. This trade represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,313 shares of company stock valued at $1,171,707 in the last quarter. 1.30% of the stock is owned by corporate insiders.

Mid-America Apartment Communities Trading Up 0.2%

Shares of NYSE MAA traded up $0.36 during midday trading on Wednesday, reaching $149.26. The stock had a trading volume of 1,680,623 shares, compared to its average volume of 793,515. Mid-America Apartment Communities, Inc. has a twelve month low of $137.51 and a twelve month high of $173.38. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.11 and a current ratio of 0.11. The company's 50 day moving average price is $155.35 and its 200 day moving average price is $156.56. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 31.10, a price-to-earnings-growth ratio of 3.79 and a beta of 0.75.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.16 by $0.04. The firm had revenue of $549.30 million during the quarter, compared to analysts' expectations of $551.21 million. Mid-America Apartment Communities had a net margin of 25.70% and a return on equity of 9.19%. The business's revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $2.22 earnings per share. As a group, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared 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 of this dividend is Tuesday, July 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.06%. Mid-America Apartment Communities's dividend payout ratio is presently 126.25%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MAA. Mizuho reduced their target price on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Wall Street Zen lowered shares of Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Scotiabank lowered their target price on shares of 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. 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 research note on Wednesday, May 21st. Finally, Barclays raised their target price on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $169.76.

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.