Public Sector Pension Investment Board Buys 4,110 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Public Sector Pension Investment Board lifted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 25.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,311 shares of the real estate investment trust's stock after purchasing an additional 4,110 shares during the period. Public Sector Pension Investment Board's holdings in Mid-America Apartment Communities were worth $3,227,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MAA. Ashton Thomas Securities LLC acquired a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $25,000. EdgeRock Capital LLC acquired a new position in Mid-America Apartment Communities in the 2nd quarter valued at about $26,000. Activest Wealth Management acquired a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $32,000. Catalyst Capital Advisors LLC acquired a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $37,000. Finally, UMB Bank n.a. grew its position 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. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Trading Down 0.8 %

NYSE MAA traded down $1.25 during mid-day trading on Wednesday, reaching $159.74. 245,389 shares of the stock were exchanged, compared to its average volume of 743,374. Mid-America Apartment Communities, Inc. has a one year low of $121.51 and a one year high of $167.39. The stock has a 50 day simple moving average of $156.66 and a 200-day simple moving average of $150.45. The stock has a market cap of $18.67 billion, a P/E ratio of 36.31, a P/E/G ratio of 2.61 and a beta of 0.90. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. During the same period in the prior year, the business earned $2.29 EPS. Mid-America Apartment Communities's quarterly revenue was up 1.7% on a year-over-year basis. On average, analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS 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 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 132.73%.

Analyst Ratings Changes

A number of brokerages have issued reports on MAA. Royal Bank of Canada decreased their target price 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 report on Friday, November 1st. Piper Sandler increased their target price on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a "neutral" rating in a research report on Monday, August 26th. Truist Financial upped their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a "buy" rating in a report on Monday, August 26th. Scotiabank cut their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a "sector perform" rating for the company in a report on Thursday, November 14th. Finally, Raymond James raised shares of Mid-America Apartment Communities from a "market perform" rating to a "strong-buy" rating and set a $175.00 price target for the company in a report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities currently has an average rating of "Hold" and an average target price of $162.68.

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.