Teacher Retirement System of Texas Takes $2.86 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Teacher Retirement System of Texas purchased a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,087 shares of the real estate investment trust's stock, valued at approximately $2,863,000.

Other hedge funds have also made changes to their positions in the company. Alhambra Investment Management LLC increased its position in Mid-America Apartment Communities by 3.1% during the 1st quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust's stock worth $363,000 after purchasing an additional 66 shares in the last quarter. Huntington National Bank increased its position in Mid-America Apartment Communities by 6.4% during the 4th quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust's stock worth $181,000 after purchasing an additional 70 shares in the last quarter. Sandy Spring Bank increased its position in Mid-America Apartment Communities by 25.2% during the 4th quarter. Sandy Spring Bank now owns 447 shares of the real estate investment trust's stock worth $69,000 after purchasing an additional 90 shares in the last quarter. Naviter Wealth LLC increased its position in Mid-America Apartment Communities by 1.1% during the 1st quarter. Naviter Wealth LLC now owns 8,567 shares of the real estate investment trust's stock worth $1,421,000 after purchasing an additional 93 shares in the last quarter. Finally, Commerce Bank increased its position in Mid-America Apartment Communities by 1.1% during the 4th quarter. Commerce Bank now owns 8,998 shares of the real estate investment trust's stock worth $1,391,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

Insider Buying and Selling at Mid-America Apartment Communities

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 value of $28,865.05. Following the completion of the sale, the executive vice president owned 3,012 shares in the company, valued at $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Scotiabank lowered their price target on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating for the company in a report on Friday, June 13th. Raymond James Financial lowered Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Mizuho reduced their price objective 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. Truist Financial reduced their price objective 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. Finally, Robert W. Baird boosted their price target on Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $169.76.

Mid-America Apartment Communities Stock Performance

MAA traded down $0.09 during trading on Wednesday, reaching $150.17. 800,789 shares of the company were exchanged, compared to its average volume of 800,157. The stock has a market cap of $17.58 billion, a P/E ratio of 31.29, a PEG ratio of 3.84 and a beta of 0.75. The firm has a 50 day moving average of $154.43 and a 200 day moving average of $156.43. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.82. Mid-America Apartment Communities, Inc. has a 52 week low of $137.51 and a 52 week high of $173.38.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $549.30 million during the quarter, compared to analyst estimates of $551.21 million. During the same quarter in the previous year, the firm posted $2.22 EPS. The firm's quarterly revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be issued a $1.515 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a dividend yield of 4.04%. Mid-America Apartment Communities's dividend payout ratio (DPR) is 126.25%.

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.