Teacher Retirement System of Texas lifted its holdings in Mid-America Apartment Communities Inc (NYSE:MAA) by 118.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 193,135 shares of the real estate investment trust’s stock after acquiring an additional 104,749 shares during the period. Teacher Retirement System of Texas owned 0.17% of Mid-America Apartment Communities worth $25,467,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Amundi Pioneer Asset Management Inc. boosted its position in Mid-America Apartment Communities by 18.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 140,458 shares of the real estate investment trust’s stock valued at $15,357,000 after acquiring an additional 21,688 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Mid-America Apartment Communities by 10.9% in the 3rd quarter. Pacer Advisors Inc. now owns 11,933 shares of the real estate investment trust’s stock worth $1,551,000 after purchasing an additional 1,169 shares in the last quarter. Valeo Financial Advisors LLC bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $260,000. SeaCrest Wealth Management LLC bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $443,000. Finally, Wealthfront Advisers LLC boosted its position in shares of Mid-America Apartment Communities by 2.1% in the 3rd quarter. Wealthfront Advisers LLC now owns 11,986 shares of the real estate investment trust’s stock worth $1,558,000 after purchasing an additional 252 shares in the last quarter. 92.84% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on MAA. Scotiabank raised Mid-America Apartment Communities from an “underperform” rating to a “sector perform” rating and set a $138.00 price target on the stock in a research report on Tuesday, November 26th. Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research report on Friday, November 8th. They issued a “neutral” rating and a $149.00 price target on the stock. Capital One Financial raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 4th. Citigroup boosted their price target on Mid-America Apartment Communities from $135.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Mizuho cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $145.00 to $140.00 in a research report on Wednesday, January 15th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Mid-America Apartment Communities has an average rating of “Buy” and an average target price of $130.58.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, January 29th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.33). The business had revenue of $416.82 million during the quarter, compared to the consensus estimate of $417.43 million. Mid-America Apartment Communities had a net margin of 21.50% and a return on equity of 5.28%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $1.55 earnings per share. Analysts expect that Mid-America Apartment Communities Inc will post 6.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were given a $1.00 dividend. The ex-dividend date was Tuesday, January 14th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.96. This represents a $4.00 annualized dividend and a yield of 2.76%. Mid-America Apartment Communities’s dividend payout ratio is 61.07%.
In other Mid-America Apartment Communities news, EVP Robert J. Delpriore sold 289 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $132.16, for a total transaction of $38,194.24. Following the completion of the sale, the executive vice president now directly owns 43,946 shares in the company, valued at approximately $5,807,903.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Claude B. Nielsen sold 3,423 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.04, for a total transaction of $469,087.92. Following the sale, the director now owns 13,740 shares of the company’s stock, valued at $1,882,929.60. The disclosure for this sale can be found here. Insiders sold a total of 4,675 shares of company stock worth $634,333 over the last ninety days. 1.30% of the stock is currently owned by insiders.
Mid-America Apartment Communities Profile
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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