Teacher Retirement System of Texas Purchases 3,582 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Teacher Retirement System of Texas increased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 6.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,617 shares of the real estate investment trust’s stock after acquiring an additional 3,582 shares during the period. Teacher Retirement System of Texas’ holdings in Mid-America Apartment Communities were worth $7,412,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. raised its holdings in Mid-America Apartment Communities by 4.9% during the second quarter. BlackRock Inc. now owns 11,923,401 shares of the real estate investment trust’s stock worth $1,810,688,000 after acquiring an additional 560,935 shares in the last quarter. State Street Corp raised its holdings in Mid-America Apartment Communities by 1.0% during the second quarter. State Street Corp now owns 7,648,431 shares of the real estate investment trust’s stock worth $1,161,491,000 after acquiring an additional 74,662 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Mid-America Apartment Communities by 7.4% during the second quarter. JPMorgan Chase & Co. now owns 3,490,414 shares of the real estate investment trust’s stock worth $530,054,000 after acquiring an additional 239,384 shares in the last quarter. Norges Bank bought a new stake in Mid-America Apartment Communities during the fourth quarter worth about $543,026,000. Finally, Geode Capital Management LLC raised its holdings in Mid-America Apartment Communities by 2.7% during the second quarter. Geode Capital Management LLC now owns 2,705,060 shares of the real estate investment trust’s stock worth $409,812,000 after acquiring an additional 69,858 shares in the last quarter. Institutional investors own 93.42% of the company’s stock.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $135.24 on Friday. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $176.36. The stock’s 50 day moving average is $129.61 and its 200-day moving average is $135.52. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $15.78 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 4.92 and a beta of 0.82.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be paid a $1.47 dividend. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. This represents a $5.88 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Thursday, January 11th. Mid-America Apartment Communities’s payout ratio is 117.37%.

Analysts Set New Price Targets

MAA has been the topic of several analyst reports. Piper Sandler lowered Mid-America Apartment Communities from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $182.00 to $130.00 in a report on Tuesday, October 31st. Mizuho boosted their price target on Mid-America Apartment Communities from $124.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Jefferies Financial Group reissued a “hold” rating and set a $136.00 price target (down previously from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. StockNews.com initiated coverage on Mid-America Apartment Communities in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Wedbush initiated coverage on Mid-America Apartment Communities in a research report on Tuesday, October 3rd. They set a “neutral” rating and a $137.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus price target of $149.03.

Check Out Our Latest Report on MAA

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 4,028 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the sale, the chief executive officer now directly owns 304,523 shares in the company, valued at $39,651,939.83. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Melanie Carpenter sold 371 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $131.33, for a total value of $48,723.43. Following the completion of the sale, the executive vice president now directly owns 19,067 shares in the company, valued at $2,504,069.11. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the sale, the chief executive officer now owns 304,523 shares of the company’s stock, valued at $39,651,939.83. The disclosure for this sale can be found here. 1.33% of the stock is currently owned by corporate insiders.

About Mid-America Apartment Communities

(Free Report)

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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