State of New Jersey Common Pension Fund D Grows Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

State of New Jersey Common Pension Fund D raised its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 56,883 shares of the real estate investment trust’s stock after buying an additional 4,628 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Mid-America Apartment Communities were worth $7,648,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MAA. DAVENPORT & Co LLC raised its holdings in shares of Mid-America Apartment Communities by 4.5% in the 3rd quarter. DAVENPORT & Co LLC now owns 3,537 shares of the real estate investment trust’s stock worth $455,000 after purchasing an additional 153 shares during the period. Czech National Bank raised its holdings in shares of Mid-America Apartment Communities by 47.7% during the 3rd quarter. Czech National Bank now owns 20,392 shares of the real estate investment trust’s stock valued at $2,623,000 after buying an additional 6,582 shares during the period. Asset Management One Co. Ltd. raised its holdings in shares of Mid-America Apartment Communities by 4.7% during the 3rd quarter. Asset Management One Co. Ltd. now owns 248,211 shares of the real estate investment trust’s stock valued at $31,932,000 after buying an additional 11,184 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Mid-America Apartment Communities by 16.5% during the 3rd quarter. Handelsbanken Fonder AB now owns 31,429 shares of the real estate investment trust’s stock valued at $4,043,000 after buying an additional 4,444 shares during the period. Finally, Ballentine Partners LLC purchased a new stake in shares of Mid-America Apartment Communities during the 3rd quarter valued at about $312,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on MAA. Jefferies Financial Group reiterated 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. Scotiabank upgraded Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and raised their target price for the company from $133.00 to $147.00 in a report on Tuesday, January 16th. Piper Sandler restated a “neutral” rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. The Goldman Sachs Group restated a “buy” rating and set a $149.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Finally, Morgan Stanley raised their price objective on Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $143.18.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock traded up $2.04 during mid-day trading on Friday, hitting $129.24. 874,720 shares of the company’s stock traded hands, compared to its average volume of 877,239. The firm has a 50 day moving average price of $129.06 and a 200 day moving average price of $128.62. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. The company has a market cap of $15.09 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 2.88 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $158.46.

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 the consensus estimate of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.32 EPS. On average, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid 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 of this dividend is Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio is presently 124.84%.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 2,807 shares of company stock valued at $353,955. Corporate insiders own 1.30% of the company’s stock.

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.