Teachers Retirement System of The State of Kentucky Cuts Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 5.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,702 shares of the real estate investment trust’s stock after selling 548 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Mid-America Apartment Communities were worth $1,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Johnson Investment Counsel Inc. lifted its holdings in Mid-America Apartment Communities by 1.1% during the second quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock valued at $996,000 after purchasing an additional 77 shares in the last quarter. Telos Capital Management Inc. boosted its holdings in Mid-America Apartment Communities by 0.8% in the 2nd quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock worth $1,437,000 after buying an additional 78 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in Mid-America Apartment Communities by 1.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,057 shares of the real estate investment trust’s stock worth $962,000 after buying an additional 82 shares in the last quarter. First Commonwealth Financial Corp PA raised its holdings in shares of Mid-America Apartment Communities by 2.1% during the third quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust’s stock valued at $664,000 after acquiring an additional 86 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its position in shares of Mid-America Apartment Communities by 6.4% in the third quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 87 shares in 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 opened at $156.07 on Wednesday. The firm has a 50-day simple moving average of $156.93 and a two-hundred day simple moving average of $152.08. 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, Inc. has a 1-year low of $121.51 and a 1-year high of $167.39. The stock has a market cap of $18.24 billion, a PE ratio of 35.23, a P/E/G ratio of 2.55 and a beta of 0.90.

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 for the quarter, missing the consensus estimate 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 company had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. During the same quarter last year, the business posted $2.29 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be paid a dividend of $1.515 per share. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.06 annualized dividend and a yield of 3.88%. Mid-America Apartment Communities’s dividend payout ratio is presently 136.79%.

Analysts Set New Price Targets

MAA has been the subject of several research reports. StockNews.com cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. BNP Paribas assumed 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 target price for the company. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a research report on Monday, October 21st. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus target price of $163.76.

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.