Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 15.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,460 shares of the real estate investment trust’s stock after acquiring an additional 3,114 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Mid-America Apartment Communities were worth $3,018,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MAA. Cullen Frost Bankers Inc. bought a new position in Mid-America Apartment Communities in the 3rd quarter worth about $35,000. ST Germain D J Co. Inc. bought a new position in Mid-America Apartment Communities in the 2nd quarter worth about $36,000. Quarry LP lifted its position in shares of Mid-America Apartment Communities by 186.5% in the 1st quarter. Quarry LP now owns 275 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 179 shares during the period. Hibernia Wealth Partners LLC purchased a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $46,000. Finally, Lindbrook Capital LLC lifted its position in shares of Mid-America Apartment Communities by 36.1% in the 3rd quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 106 shares during the period. 93.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MAA. Truist Financial raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and upped their price target for the stock from $154.00 to $158.00 in a research report on Tuesday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a research report on Friday. Morgan Stanley began coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, December 12th. They issued an “equal weight” rating and a $128.00 price target for the company. Mizuho upped their price target on shares of 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. Finally, Scotiabank raised shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and upped their price target for the stock from $133.00 to $147.00 in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $145.26.

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Mid-America Apartment Communities Trading Up 0.8 %

NYSE MAA opened at $125.47 on Tuesday. The company has a fifty day simple moving average of $131.44 and a two-hundred day simple moving average of $132.45. The stock has a market cap of $14.64 billion, a P/E ratio of 26.64, a P/E/G ratio of 4.70 and a beta of 0.81. Mid-America Apartment Communities, Inc. has a 12-month low of $115.56 and a 12-month high of $173.43. The company has a current ratio of 0.09, a quick ratio of 0.26 and a debt-to-equity ratio of 0.72.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The company had revenue of $542.25 million during the quarter, compared to analysts’ expectations of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.32 EPS. On average, analysts forecast that Mid-America Apartment Communities, Inc. will post 9.05 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th were issued a $1.47 dividend. The ex-dividend date was Thursday, January 11th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.69%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 124.84%.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 4,028 shares of the stock in a transaction 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 sale, the chief executive officer now owns 304,523 shares in the company, valued at $39,651,939.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Melanie Carpenter sold 371 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $131.33, for a total value of $48,723.43. Following the sale, the executive vice president now owns 19,067 shares in the company, valued at $2,504,069.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of the firm’s stock in a transaction on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total transaction of $524,485.88. Following the sale, the chief executive officer now owns 304,523 shares in the company, valued at approximately $39,651,939.83. The disclosure for this sale can be found here. Company insiders own 1.33% of the company’s stock.

Mid-America Apartment Communities Profile

(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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