California Public Employees Retirement System Has $28.66 Million Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

California Public Employees Retirement System cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,124 shares of the real estate investment trust’s stock after selling 3,555 shares during the quarter. California Public Employees Retirement System owned approximately 0.18% of Mid-America Apartment Communities worth $28,657,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cullen Frost Bankers Inc. acquired a new stake in Mid-America Apartment Communities in the third quarter valued at about $35,000. CVA Family Office LLC acquired a new stake in Mid-America Apartment Communities in the fourth quarter valued at about $40,000. First Financial Corp IN boosted its stake 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. Emfo LLC acquired a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at about $40,000. Finally, Lindbrook Capital LLC boosted 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 valued at $51,000 after purchasing an additional 106 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAA has been the topic of a number of recent research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $136.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Piper Sandler reissued a “neutral” rating and set a $140.00 price target on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Morgan Stanley lifted their price target on Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Scotiabank raised Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the company from $133.00 to $147.00 in a research note on Tuesday, January 16th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $143.18.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the sale, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 2,807 shares of company stock worth $353,955 over the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Trading Up 1.6 %

Shares of MAA stock opened at $129.23 on Friday. The company has a market cap of $15.09 billion, a P/E ratio of 27.44, a PEG ratio of 2.90 and a beta of 0.80. The stock has a 50 day simple moving average of $129.06 and a two-hundred day simple moving average of $128.59. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.09 and a current ratio of 0.09. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). The business had revenue of $542.25 million during the quarter, compared to the consensus estimate of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The company’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 posted $2.32 earnings per share. Research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a dividend of $1.47 per share. The ex-dividend date is Friday, April 12th. This represents a $5.88 annualized dividend and a dividend yield of 4.55%. Mid-America Apartment Communities’s dividend payout ratio is 124.84%.

Mid-America Apartment Communities 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.