Illinois Municipal Retirement Fund Trims Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Illinois Municipal Retirement Fund trimmed its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 76.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,018 shares of the real estate investment trust’s stock after selling 22,993 shares during the period. Illinois Municipal Retirement Fund’s holdings in Mid-America Apartment Communities were worth $944,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MAA. FMR LLC grew its position in Mid-America Apartment Communities by 12.2% in the third quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock worth $702,125,000 after acquiring an additional 592,306 shares during the period. Morgan Stanley grew its holdings in shares of Mid-America Apartment Communities by 1.4% during the 3rd quarter. Morgan Stanley now owns 2,345,083 shares of the real estate investment trust’s stock worth $301,695,000 after purchasing an additional 31,813 shares during the period. Blackstone Inc. increased its position in shares of Mid-America Apartment Communities by 51.8% during the 3rd quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock worth $262,943,000 after purchasing an additional 697,200 shares during the last quarter. Northern Trust Corp increased its position in shares of Mid-America Apartment Communities by 5.7% during the 3rd quarter. Northern Trust Corp now owns 1,725,788 shares of the real estate investment trust’s stock worth $222,023,000 after purchasing an additional 93,020 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Mid-America Apartment Communities by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,014 shares of the real estate investment trust’s stock valued at $161,072,000 after buying an additional 16,889 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 1.6 %

MAA opened at $129.23 on Monday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $158.46. The business’s 50 day moving average is $129.06 and its two-hundred day moving average is $128.56. The firm has a market cap of $15.09 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.90 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.93). The business had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. Mid-America Apartment Communities’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company posted $2.32 EPS. On average, research analysts predict that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 2,807 shares of company stock worth $353,955 over the last 90 days. 1.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Piper Sandler reiterated a “neutral” rating and set a $140.00 price target on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Morgan Stanley boosted their target price on Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Mizuho lowered their price target on Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Finally, Jefferies Financial Group restated a “hold” rating and set a $136.00 target price (down from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $143.18.

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.