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

Teachers Retirement System of The State of Kentucky cut its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 5.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,702 shares of the real estate investment trust’s stock after selling 548 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Mid-America Apartment Communities were worth $1,383,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MAA. State Street Corp lifted its stake in Mid-America Apartment Communities by 0.9% in the third quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust’s stock worth $1,228,569,000 after acquiring an additional 65,696 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Mid-America Apartment Communities by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 3,141,138 shares of the real estate investment trust’s stock worth $497,624,000 after purchasing an additional 48,168 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Mid-America Apartment Communities by 17.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after purchasing an additional 393,067 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Mid-America Apartment Communities by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock valued at $244,803,000 after buying an additional 97,672 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in Mid-America Apartment Communities by 2.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock valued at $234,497,000 after buying an additional 44,621 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on MAA. Piper Sandler upped their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $138.00 to $174.00 in a research note on Monday, August 26th. Royal Bank of Canada reduced their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Scotiabank dropped their target price on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Finally, Barclays began coverage on shares of Mid-America Apartment Communities in a research report on Tuesday. They issued an “equal weight” rating and a $166.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $163.76.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $156.07 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The business has a 50 day simple moving average of $156.93 and a 200-day simple moving average of $152.08. Mid-America Apartment Communities, Inc. has a 12 month low of $121.51 and a 12 month high of $167.39. The stock has a market capitalization of $18.24 billion, a PE ratio of 35.23, a price-to-earnings-growth ratio of 2.55 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The firm had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 EPS. Equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date is Wednesday, January 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s payout ratio is currently 136.79%.

Mid-America Apartment Communities Profile

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.