Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Acquired by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 25.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,311 shares of the real estate investment trust’s stock after acquiring an additional 4,110 shares during the period. Public Sector Pension Investment Board’s holdings in Mid-America Apartment Communities were worth $3,227,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Johnson Investment Counsel Inc. grew its stake in shares of Mid-America Apartment Communities by 1.1% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock worth $996,000 after purchasing an additional 77 shares during the period. Telos Capital Management Inc. boosted its stake in shares of Mid-America Apartment Communities by 0.8% during the 2nd quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock worth $1,437,000 after acquiring an additional 78 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Mid-America Apartment Communities by 1.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust’s stock worth $962,000 after acquiring an additional 82 shares during the period. First Commonwealth Financial Corp PA increased its stake in Mid-America Apartment Communities by 2.1% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust’s stock valued at $664,000 after purchasing an additional 86 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in Mid-America Apartment Communities by 6.4% during the third quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock worth $229,000 after purchasing an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Truist Financial upped their target price on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 26th. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a “buy” rating and a $187.00 target price for the company. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and increased their price target for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $138.00 to $174.00 in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $162.68.

Mid-America Apartment Communities Trading Down 0.7 %

Shares of MAA stock opened at $161.15 on Wednesday. Mid-America Apartment Communities, Inc. has a 1-year low of $121.51 and a 1-year high of $167.39. The firm’s 50-day simple moving average is $156.70 and its 200-day simple moving average is $150.29. The firm has a market cap of $18.84 billion, a P/E ratio of 36.38, a PEG ratio of 2.61 and a beta of 0.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. During the same quarter last year, the business earned $2.29 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

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.