State of New Jersey Common Pension Fund D Reduces Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

State of New Jersey Common Pension Fund D cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,255 shares of the real estate investment trust’s stock after selling 3,657 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Mid-America Apartment Communities were worth $6,723,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. lifted its stake in 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 acquiring an additional 2,770 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Mid-America Apartment Communities by 62.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,148 shares of the real estate investment trust’s stock worth $1,078,000 after purchasing an additional 1,974 shares during the last quarter. Cetera Advisor Networks LLC grew its position in Mid-America Apartment Communities by 22.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,794 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 325 shares during the period. Acadian Asset Management LLC bought a new stake in Mid-America Apartment Communities in the 1st quarter worth approximately $393,000. Finally, Sei Investments Co. raised its stake in 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 buying an additional 3,544 shares during the last quarter. 93.42% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Performance

NYSE MAA opened at $125.47 on Tuesday. The company has a quick ratio of 0.26, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. Mid-America Apartment Communities, Inc. has a twelve month low of $115.56 and a twelve month high of $173.43. The business has a 50-day moving average price of $131.44 and a 200-day moving average price of $132.45. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 4.70 and a beta of 0.81.

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 for the quarter, missing the consensus estimate of $2.30 by ($0.93). The business had revenue of $542.25 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.32 earnings per share. As a group, equities research analysts predict that Mid-America Apartment Communities, Inc. will post 9.05 EPS for the current fiscal 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. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. This represents a $5.88 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend was Thursday, January 11th. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several brokerages recently commented on MAA. Colliers Securities raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $144.00 price objective for the company in a report on Tuesday, November 28th. Scotiabank upgraded Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and boosted their price target for the company from $133.00 to $147.00 in a research note on Tuesday, January 16th. Truist Financial upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and increased their price objective for the stock from $154.00 to $158.00 in a research note on Tuesday, January 16th. Mizuho boosted their target price on shares of Mid-America Apartment Communities from $124.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Finally, Morgan Stanley started 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 on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $145.26.

Check Out Our Latest Stock Analysis on MAA

Mid-America Apartment Communities Company 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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