Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) by 6.5% during the third quarter, according to the company in its most recent disclosure 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. American Century Companies Inc. raised 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 worth $834,000 after acquiring an additional 2,770 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Mid-America Apartment Communities by 62.2% during 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 increased its position in shares of Mid-America Apartment Communities by 22.1% during the first 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 in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at about $393,000. Finally, Sei Investments Co. boosted its position in shares of Mid-America Apartment Communities by 7.5% in 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 purchasing an additional 3,544 shares during the period. Hedge funds and other institutional investors own 93.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Mid-America Apartment Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $139.00 price target on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a research report on Friday. Piper Sandler downgraded shares of Mid-America Apartment Communities from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $182.00 to $130.00 in a research report on Tuesday, October 31st. Jefferies Financial Group restated a “hold” rating and issued a $136.00 price objective (down from $140.00) on shares of Mid-America Apartment Communities in a research note on Tuesday, January 2nd. Finally, Mizuho increased their target price on shares of Mid-America Apartment Communities from $124.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $145.26.

Read Our Latest Stock Report on MAA

Mid-America Apartment Communities Stock Up 0.8 %

Mid-America Apartment Communities stock opened at $125.47 on Tuesday. The stock’s 50 day moving average price is $131.44 and its 200 day moving average price is $132.45. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $173.43. The company has a market cap of $14.64 billion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 4.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.26.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last issued 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). The company had revenue of $542.25 million for the quarter, compared to analysts’ expectations of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. Mid-America Apartment Communities’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.32 earnings per share. On average, sell-side 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. Stockholders of record on Friday, January 12th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.69%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. The ex-dividend date was Thursday, January 11th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 124.84%.

Insider Transactions at Mid-America Apartment Communities

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

About Mid-America Apartment Communities

(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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