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

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

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in Mid-America Apartment Communities in the fourth quarter valued at about $826,562,000. Capital World Investors boosted its holdings in shares of Mid-America Apartment Communities by 45.9% in 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 in the last quarter. Deutsche Bank AG increased its stake in shares of Mid-America Apartment Communities by 312.6% in the 4th quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust's stock valued at $189,507,000 after purchasing an additional 928,851 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Mid-America Apartment Communities by 26.9% during the 4th 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. Finally, GAMMA Investing LLC raised its holdings in shares of Mid-America Apartment Communities by 22,463.1% during the 1st quarter. GAMMA Investing LLC now owns 581,000 shares of the real estate investment trust's stock worth $97,364,000 after buying an additional 578,425 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Trading Down 0.2%

Shares of NYSE MAA traded down $0.37 during trading hours on Friday, reaching $150.73. The stock had a trading volume of 940,004 shares, compared to its average volume of 803,858. Mid-America Apartment Communities, Inc. has a 52-week low of $138.89 and a 52-week high of $173.38. The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 31.40, a P/E/G ratio of 3.86 and a beta of 0.75. The business's fifty day moving average price is $153.68 and its two-hundred day moving average price is $156.36. 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 (NYSE:MAA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. During the same period in the previous year, the company posted $2.22 earnings per share. The firm's quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect 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 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 4.02%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is 126.25%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MAA. 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 research report on Friday, May 9th. Truist Financial decreased their price objective 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. Mizuho reduced their target price on Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. The Goldman Sachs Group lowered shares of Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price objective for the company. in a research note on Friday. Finally, Raymond James Financial lowered shares of Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $168.71.

Insider Activity

In other Mid-America Apartment Communities news, EVP Amber Fairbanks sold 173 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 3,012 shares in the company, valued at approximately $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

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.