California State Teachers Retirement System Decreases Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

California State Teachers Retirement System decreased its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 1.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 190,525 shares of the real estate investment trust’s stock after selling 2,094 shares during the period. California State Teachers Retirement System’s holdings in Mid-America Apartment Communities were worth $29,545,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MAA. American Century Companies Inc. increased its position in shares of Mid-America Apartment Communities by 228.2% during the 1st quarter. American Century Companies Inc. now owns 3,984 shares of the real estate investment trust’s stock valued at $834,000 after purchasing an additional 2,770 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Mid-America Apartment Communities by 62.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,148 shares of the real estate investment trust’s stock valued at $1,078,000 after purchasing an additional 1,974 shares during the last quarter. Cetera Advisor Networks LLC increased its position in shares of Mid-America Apartment Communities by 22.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,794 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 325 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Mid-America Apartment Communities during the 1st quarter valued at about $393,000. Finally, Sei Investments Co. increased its position in shares of Mid-America Apartment Communities by 7.5% during the 1st quarter. Sei Investments Co. now owns 50,699 shares of the real estate investment trust’s stock valued at $10,619,000 after purchasing an additional 3,544 shares during the last quarter. Hedge funds and other institutional investors own 91.20% of the company’s stock.

Insider Activity

In other news, EVP Melanie Carpenter sold 269 shares of the stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $155.57, for a total transaction of $41,848.33. Following the completion of the transaction, the executive vice president now directly owns 17,499 shares in the company, valued at approximately $2,722,319.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO H Eric Bolton, Jr. sold 975 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $44,176,642.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Melanie Carpenter sold 269 shares of the stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $155.57, for a total value of $41,848.33. Following the sale, the executive vice president now owns 17,499 shares in the company, valued at approximately $2,722,319.43. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,462 shares of company stock worth $379,401. 1.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on MAA shares. Truist Financial lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and reduced their price target for the company from $176.00 to $167.00 in a research report on Tuesday, January 17th. Capital One Financial reiterated an “overweight” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, November 30th. BTIG Research cut their price objective on Mid-America Apartment Communities from $225.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, January 11th. Scotiabank downgraded Mid-America Apartment Communities from a “sector outperform” rating to a “sector perform” rating and set a $163.00 price objective for the company. in a research note on Tuesday, March 14th. Finally, StockNews.com assumed coverage on Mid-America Apartment Communities in a research note on Thursday. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued 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 Trading Down 2.8 %

MAA stock opened at $145.29 on Friday. Mid-America Apartment Communities, Inc. has a 1-year low of $141.13 and a 1-year high of $217.64. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.10 and a quick ratio of 0.10. The company has a market capitalization of $16.94 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 8.23 and a beta of 0.77. The business has a 50 day simple moving average of $161.72 and a two-hundred day simple moving average of $159.18.

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

Mid-America Apartment Communities Cuts Dividend

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

Mid-America Apartment Communities Profile

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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.