Kentucky Retirement Systems Insurance Trust Fund Sells 308 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,460 shares of the real estate investment trust’s stock after selling 308 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Mid-America Apartment Communities were worth $550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MAA. 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 acquiring an additional 77 shares in the last quarter. Telos Capital Management Inc. grew its position in Mid-America Apartment Communities by 0.8% in the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock valued at $1,437,000 after purchasing an additional 78 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Mid-America Apartment Communities by 6.4% in the 3rd quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 87 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in Mid-America Apartment Communities by 5.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock worth $227,000 after buying an additional 90 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Mid-America Apartment Communities by 12.3% during the 1st quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 93 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Ratings Changes

MAA has been the topic of a number of recent research reports. StockNews.com downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Scotiabank dropped their price objective on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Piper Sandler raised their target price on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and upped their price target for the stock from $144.00 to $189.00 in a research report on Monday, August 12th. Finally, BNP Paribas initiated coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average price target of $161.64.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $158.52 on Tuesday. The firm has a market cap of $18.53 billion, a P/E ratio of 35.78, a price-to-earnings-growth ratio of 2.54 and a beta of 0.88. The business’s 50 day moving average is $157.23 and its 200-day moving average is $148.46. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 1-year low of $120.32 and a 1-year high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.20). The firm had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.29 EPS. Equities research 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

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.