State of Michigan Retirement System Has $5.46 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

State of Michigan Retirement System raised its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,299 shares of the real estate investment trust’s stock after purchasing an additional 800 shares during the period. State of Michigan Retirement System’s holdings in Mid-America Apartment Communities were worth $5,456,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new stake in shares of Mid-America Apartment Communities during the third quarter worth approximately $2,890,000. Swedbank AB raised its position in shares of Mid-America Apartment Communities by 2.6% during the 3rd quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust’s stock valued at $32,350,000 after acquiring an additional 5,178 shares during the last quarter. Metis Global Partners LLC lifted its stake in shares of Mid-America Apartment Communities by 9.5% in the 4th quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust’s stock valued at $2,670,000 after purchasing an additional 1,499 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Mid-America Apartment Communities by 2.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust’s stock worth $28,711,000 after purchasing an additional 4,301 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in shares of Mid-America Apartment Communities during the third quarter worth $4,304,000. Institutional investors own 93.60% of the company’s stock.

Analysts Set New Price Targets

MAA has been the topic of several analyst reports. Morgan Stanley raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $159.50 to $168.00 in a research note on Friday, January 24th. Evercore ISI lifted their price objective on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. KeyCorp upgraded shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a report on Tuesday, December 17th. Wells Fargo & Company cut their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Finally, BMO Capital Markets decreased their price target on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $167.00.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $166.68 on Friday. Mid-America Apartment Communities, Inc. has a 12-month low of $123.73 and a 12-month high of $173.38. The firm’s 50 day moving average is $155.39 and its 200-day moving average is $157.02. The company has a market capitalization of $19.48 billion, a PE ratio of 37.20, a price-to-earnings-growth ratio of 3.72 and a beta of 0.91. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were given a dividend of $1.515 per share. The ex-dividend date was Wednesday, January 15th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 annualized dividend and a yield of 3.64%. Mid-America Apartment Communities’s dividend payout ratio is 135.27%.

Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.