Kentucky Retirement Systems Has $1.29 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Kentucky Retirement Systems lessened its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 7.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,142 shares of the real estate investment trust’s stock after selling 662 shares during the quarter. Kentucky Retirement Systems’ holdings in Mid-America Apartment Communities were worth $1,294,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MAA. Ashton Thomas Securities LLC acquired a new position in shares of Mid-America Apartment Communities in the third quarter worth $25,000. EdgeRock Capital LLC purchased a new position in Mid-America Apartment Communities in the second quarter valued at about $26,000. Versant Capital Management Inc increased its position in Mid-America Apartment Communities by 3,071.4% in the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 215 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Mid-America Apartment Communities by 82.4% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 108 shares in the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 0.3 %

Mid-America Apartment Communities stock opened at $158.52 on Tuesday. The business has a 50 day moving average price of $157.23 and a two-hundred day moving average price of $148.46. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 12 month low of $120.32 and a 12 month high of $167.39. The stock has a market cap of $18.53 billion, a price-to-earnings ratio of 35.78, a price-to-earnings-growth ratio of 2.54 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS 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 firm had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. During the same quarter in the previous year, the company posted $2.29 earnings per share. The business’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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 132.73%.

Wall Street Analysts Forecast Growth

MAA has been the topic of several analyst reports. Royal Bank of Canada dropped their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Piper Sandler boosted their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Truist Financial increased their price target 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. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. Finally, Wedbush raised their target price on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Two analysts have rated the stock with a sell rating, eight have assigned 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, the company currently has a consensus rating of “Hold” and a consensus price target of $161.64.

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.