Louisiana State Employees Retirement System Takes $955,000 Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Louisiana State Employees Retirement System bought a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 7,100 shares of the real estate investment trust’s stock, valued at approximately $955,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new position in shares of Mid-America Apartment Communities during the 3rd quarter valued at approximately $35,000. CVA Family Office LLC acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at approximately $40,000. First Financial Corp IN increased its position in Mid-America Apartment Communities by 40.8% in the fourth quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 86 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Mid-America Apartment Communities by 36.1% during the third quarter. Lindbrook Capital LLC now owns 400 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 106 shares during the period. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Mid-America Apartment Communities by 22.2% during the third quarter. Raleigh Capital Management Inc. now owns 463 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 84 shares during the period. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the transaction, the chief executive officer now owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a filing with the SEC, which is available at this link. In the last 90 days, insiders sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on MAA shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $136.00 target price (down previously from $140.00) on shares of Mid-America Apartment Communities in a research note on Tuesday, January 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $149.00 target price on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $136.00 target price on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Piper Sandler reaffirmed a “neutral” rating and set a $140.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $139.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $143.18.

Mid-America Apartment Communities Price Performance

NYSE:MAA opened at $128.40 on Thursday. The stock has a market cap of $14.99 billion, a P/E ratio of 27.26, a PEG ratio of 2.86 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $158.46. The company has a fifty day moving average price of $129.04 and a 200 day moving average price of $128.63. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The company had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. During the same quarter in the previous year, the company earned $2.32 earnings per share. Mid-America Apartment Communities’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is 124.84%.

About Mid-America Apartment Communities

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.