Kentucky Retirement Systems Insurance Trust Fund Lowers Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 7.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,852 shares of the real estate investment trust’s stock after selling 305 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Mid-America Apartment Communities were worth $507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Mid-America Apartment Communities during the fourth quarter valued at approximately $713,500,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Mid-America Apartment Communities by 188.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock worth $195,179,000 after buying an additional 949,171 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Mid-America Apartment Communities by 96.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock worth $164,085,000 after buying an additional 600,547 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Mid-America Apartment Communities by 103.1% in the fourth quarter. 1832 Asset Management L.P. now owns 1,030,038 shares of the real estate investment trust’s stock worth $138,499,000 after buying an additional 522,851 shares in the last quarter. Finally, Anchor Capital Advisors LLC increased its position in Mid-America Apartment Communities by 10,178.6% in the fourth quarter. Anchor Capital Advisors LLC now owns 349,575 shares of the real estate investment trust’s stock worth $47,004,000 after purchasing an additional 346,174 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Price Performance

NYSE MAA traded up $1.03 on Monday, hitting $143.53. The company had a trading volume of 148,899 shares, compared to its average volume of 766,823. Mid-America Apartment Communities, Inc. has a 12-month low of $115.56 and a 12-month high of $150.79. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.12. The company’s fifty day moving average price is $138.84 and its 200-day moving average price is $133.24. The company has a market capitalization of $16.77 billion, a PE ratio of 29.87, a PEG ratio of 3.17 and a beta of 0.85.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($1.01). The business had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm earned $2.28 EPS. As a group, analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be given a $1.47 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $5.88 dividend on an annualized basis and a yield of 4.10%. Mid-America Apartment Communities’s payout ratio is currently 123.27%.

Analysts Set New Price Targets

Several analysts have commented on MAA shares. UBS Group increased their price target on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research report on Thursday, July 18th. Morgan Stanley increased their price objective on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a research report on Wednesday, May 15th. Mizuho increased their price target on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. Truist Financial raised their price target on shares of Mid-America Apartment Communities from $148.00 to $156.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, Janney Montgomery Scott raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus price target of $141.59.

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.