Teachers Retirement System of The State of Kentucky Purchases Shares of 46,956 Mid-America Apartment Communities, Inc. (NYSE:MAA)

Teachers Retirement System of The State of Kentucky purchased a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) in the 3rd quarter, Holdings Channel reports. The firm purchased 46,956 shares of the real estate investment trust’s stock, valued at approximately $7,282,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Karp Capital Management Corp purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $26,000. Selway Asset Management purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $31,000. Guardian Wealth Advisors LLC purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $33,000. American Research & Management Co. purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $37,000. Finally, Ronald Blue Trust Inc. purchased a new stake in shares of Mid-America Apartment Communities during the 2nd quarter worth about $61,000. Hedge funds and other institutional investors own 91.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on MAA shares. UBS Group started coverage on Mid-America Apartment Communities in a report on Thursday, December 15th. They set a “sell” rating and a $150.00 target price for the company. Wolfe Research started coverage on Mid-America Apartment Communities in a report on Tuesday, November 22nd. They set a “market perform” rating for the company. Barclays boosted their target price on Mid-America Apartment Communities from $185.00 to $192.00 and gave the stock an “overweight” rating in a report on Wednesday, March 1st. Credit Suisse Group cut Mid-America Apartment Communities from an “outperform” rating to a “neutral” rating and set a $160.00 target price for the company. in a report on Monday, January 9th. Finally, JMP Securities boosted their price target on Mid-America Apartment Communities from $180.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average price target of $177.00.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $145.29 on Friday. The business’s 50 day moving average is $161.98 and its two-hundred day moving average is $159.35. Mid-America Apartment Communities, Inc. has a 52-week low of $141.13 and a 52-week high of $217.64. The firm has a market cap of $16.94 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 8.26 and a beta of 0.77. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.71.

Mid-America Apartment Communities (NYSE:MAA – Get Rating) last announced its earnings results on Thursday, February 2nd. The real estate investment trust reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.61). Mid-America Apartment Communities had a net margin of 31.51% and a return on equity of 10.72%. The business had revenue of $527.97 million during the quarter, compared to analyst estimates of $529.90 million. During the same period in the previous year, the company earned $1.90 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. Analysts forecast that Mid-America Apartment Communities, Inc. will post 9.17 EPS for the current fiscal year.

Mid-America Apartment Communities Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be given a $1.063 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Tuesday, March 14th. Mid-America Apartment Communities’s payout ratio is 102.00%.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, EVP Melanie Carpenter sold 242 shares of the firm’s stock in a transaction on Friday, January 6th. The stock was sold at an average price of $153.85, for a total transaction of $37,231.70. Following the transaction, the executive vice president now directly owns 17,883 shares in the company, valued at $2,751,299.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 242 shares of Mid-America Apartment Communities stock in a transaction on Friday, January 6th. The shares were sold at an average price of $153.85, for a total value of $37,231.70. Following the completion of the transaction, the executive vice president now owns 17,883 shares of the company’s stock, valued at $2,751,299.55. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO H Eric Bolton, Jr. sold 975 shares of Mid-America Apartment Communities stock in a transaction on Friday, January 6th. The stock was sold at an average price of $153.85, for a total transaction of $150,003.75. Following the completion of the transaction, the chief executive officer now directly owns 287,141 shares of the company’s stock, valued at approximately $44,176,642.85. The disclosure for this sale can be found here. Insiders have sold a total of 2,462 shares of company stock valued at $379,401 in the last three months. Corporate insiders own 1.34% of the company’s stock.

Mid-America Apartment Communities Company Profile

(Get Rating)

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 following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.