Retirement Systems of Alabama Cuts Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Retirement Systems of Alabama decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 96,013 shares of the real estate investment trust’s stock after selling 665 shares during the period. Retirement Systems of Alabama owned about 0.08% of Mid-America Apartment Communities worth $12,910,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new position in Mid-America Apartment Communities in the third quarter valued at $35,000. First Financial Corp IN increased its holdings 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 valued at $40,000 after buying an additional 86 shares in the last quarter. CVA Family Office LLC purchased a new position in Mid-America Apartment Communities in the fourth quarter valued at $40,000. Emfo LLC purchased a new position in Mid-America Apartment Communities in the fourth quarter valued at $40,000. Finally, Lindbrook Capital LLC increased its stake 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 worth $51,000 after purchasing an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $130.62 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market capitalization of $15.25 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 2.92 and a beta of 0.80. The company’s 50-day moving average is $129.17 and its two-hundred day moving average is $128.51. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last posted its 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 firm had revenue of $542.25 million during the quarter, compared to analyst estimates of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The business’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 firm earned $2.32 earnings per share. Analysts forecast that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a $1.47 dividend. The ex-dividend date was Friday, April 12th. This represents a $5.88 annualized dividend and a yield of 4.50%. Mid-America Apartment Communities’s payout ratio is 124.84%.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 2,807 shares of company stock worth $353,955 in the last ninety days. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MAA. Scotiabank raised shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the stock from $133.00 to $147.00 in a research note on Tuesday, January 16th. Mizuho cut their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Wedbush reissued a “neutral” rating and set a $135.00 target price on shares of Mid-America Apartment Communities in a research note on Monday. Piper Sandler reissued 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, Royal Bank of Canada reissued 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. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and an average target price of $143.06.

Mid-America Apartment Communities Company 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.