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

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MAA. Duquesne Family Office LLC bought a new stake in Mid-America Apartment Communities during the 2nd quarter worth approximately $91,868,000. Long Pond Capital LP boosted its stake in Mid-America Apartment Communities by 550.9% in the second quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock worth $92,270,000 after purchasing an additional 547,607 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Mid-America Apartment Communities by 17.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after purchasing an additional 393,067 shares during the last quarter. Ceredex Value Advisors LLC increased its stake in shares of Mid-America Apartment Communities by 107.1% in the second quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock valued at $94,424,000 after buying an additional 342,335 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Mid-America Apartment Communities by 176.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 339,081 shares of the real estate investment trust’s stock valued at $48,356,000 after buying an additional 216,610 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

Shares of MAA stock opened at $158.52 on Tuesday. 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 firm has a fifty day moving average of $157.23 and a 200-day moving average of $148.46. The firm has a market capitalization 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 posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The business had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.29 earnings per share. On average, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $1.47 dividend. 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 currently 132.73%.

Analyst Upgrades and Downgrades

MAA has been the subject of several research reports. Truist Financial raised their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. BNP Paribas began coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price target for the company. StockNews.com downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their target price on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, Wedbush upped their price target on 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $161.64.

Mid-America Apartment Communities Company 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.