State of Tennessee Department of Treasury Sells 794 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

State of Tennessee Department of Treasury trimmed its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 191,000 shares of the real estate investment trust’s stock after selling 794 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Mid-America Apartment Communities were worth $29,523,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Mid-America Apartment Communities during the 4th quarter valued at about $826,562,000. Capital World Investors increased its position in Mid-America Apartment Communities by 45.9% during 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 during the period. JPMorgan Chase & Co. raised its holdings in shares of Mid-America Apartment Communities by 26.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock valued at $517,015,000 after purchasing an additional 708,125 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $95,671,000. Finally, Aew Capital Management L P boosted its stake in shares of Mid-America Apartment Communities by 516.3% during the fourth quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust’s stock valued at $97,533,000 after purchasing an additional 528,608 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Down 1.3 %

MAA stock opened at $154.98 on Tuesday. The company has a market capitalization of $18.12 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 3.72 and a beta of 0.79. Mid-America Apartment Communities, Inc. has a 12 month low of $125.55 and a 12 month high of $173.38. The firm’s fifty day simple moving average is $161.21 and its 200-day simple moving average is $157.06. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. As a group, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $1.515 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.91%. Mid-America Apartment Communities’s payout ratio is 135.27%.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 4,358 shares of the firm’s stock in a transaction dated 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 now directly owns 324,171 shares in the company, valued at $53,890,187.04. This trade represents a 1.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 7,140 shares of company stock valued at $1,142,842 in the last three months. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of analyst reports. JMP Securities restated a “market outperform” rating and set a $160.00 target price on shares of Mid-America Apartment Communities in a report on Tuesday, February 11th. Wells Fargo & Company cut their target price on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a research note on Friday, January 24th. Truist Financial raised their price target on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a report on Monday, March 10th. Scotiabank raised shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and increased their target price for the company from $173.00 to $182.00 in a research report on Friday, February 14th. Finally, BMO Capital Markets reduced their price target on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $168.76.

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.