New York State Teachers Retirement System Has $16.20 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

New York State Teachers Retirement System cut its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 101,966 shares of the real estate investment trust’s stock after selling 9,728 shares during the quarter. New York State Teachers Retirement System’s holdings in Mid-America Apartment Communities were worth $16,202,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MAA. Massachusetts Financial Services Co. MA grew its stake in Mid-America Apartment Communities by 17.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after acquiring an additional 393,067 shares during the period. Dimensional Fund Advisors LP grew its position in Mid-America Apartment Communities by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock valued at $244,803,000 after purchasing an additional 97,672 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Mid-America Apartment Communities by 2.8% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock valued at $234,497,000 after purchasing an additional 44,621 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Mid-America Apartment Communities by 1.5% in the first quarter. Canada Pension Plan Investment Board now owns 1,444,641 shares of the real estate investment trust’s stock valued at $190,086,000 after buying an additional 21,000 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its holdings in shares of Mid-America Apartment Communities by 7.0% during the second quarter. 1832 Asset Management L.P. now owns 1,140,287 shares of the real estate investment trust’s stock valued at $162,616,000 after buying an additional 74,936 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $149.17 on Friday. The firm has a market capitalization of $17.43 billion, a PE ratio of 33.67, a P/E/G ratio of 2.45 and a beta of 0.88. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $158.25 and a two-hundred day moving average price of $145.78. Mid-America Apartment Communities, Inc. has a twelve month low of $118.68 and a twelve month high of $167.39.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.94%. Mid-America Apartment Communities’s dividend payout ratio is 132.73%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price target for the company from $144.00 to $189.00 in a research note on Monday, August 12th. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of 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. Wedbush upped their target price on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Truist Financial lifted their price target on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of “Moderate Buy” and a consensus price target of $161.69.

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.