Illinois Municipal Retirement Fund Has $7.37 Million Position in Mid-America Apartment Communities, Inc. $MAA

Illinois Municipal Retirement Fund lifted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 49,778 shares of the real estate investment trust’s stock after purchasing an additional 1,800 shares during the period. Illinois Municipal Retirement Fund’s holdings in Mid-America Apartment Communities were worth $7,368,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. ProShare Advisors LLC lifted its position in Mid-America Apartment Communities by 7.8% during the 2nd quarter. ProShare Advisors LLC now owns 33,128 shares of the real estate investment trust’s stock worth $4,903,000 after buying an additional 2,391 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Mid-America Apartment Communities in the 2nd quarter valued at about $455,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Mid-America Apartment Communities in the second quarter worth about $208,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Mid-America Apartment Communities by 5.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 308,199 shares of the real estate investment trust’s stock worth $45,617,000 after purchasing an additional 16,824 shares in the last quarter. Finally, Aviva PLC lifted its position in shares of Mid-America Apartment Communities by 1,834.7% during the second quarter. Aviva PLC now owns 87,274 shares of the real estate investment trust’s stock worth $12,917,000 after purchasing an additional 82,763 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO H Eric Bolton, Jr. purchased 578 shares of the stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of $129.36 per share, with a total value of $74,770.08. Following the purchase, the chief executive officer directly owned 320,391 shares in the company, valued at $41,445,779.76. The trade was a 0.18% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MAA. Piper Sandler lowered their price target on shares of Mid-America Apartment Communities from $153.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, November 3rd. Scotiabank decreased their price objective on Mid-America Apartment Communities from $162.00 to $146.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 4th. Mizuho raised Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $161.00 to $150.00 in a research note on Thursday, August 14th. Evercore ISI dropped their target price on Mid-America Apartment Communities from $153.00 to $144.00 and set an “in-line” rating for the company in a research report on Monday, November 3rd. Finally, Wells Fargo & Company upped their price target on Mid-America Apartment Communities from $156.00 to $157.00 and gave the company an “overweight” rating in a research note on Monday, October 13th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $156.50.

Mid-America Apartment Communities Price Performance

MAA opened at $131.53 on Wednesday. The company has a fifty day moving average price of $136.06 and a two-hundred day moving average price of $145.46. The firm has a market capitalization of $15.40 billion, a PE ratio of 27.87, a P/E/G ratio of 3.38 and a beta of 0.78. Mid-America Apartment Communities, Inc. has a 52 week low of $125.75 and a 52 week high of $173.38. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.10 and a current ratio of 0.10.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.01). Mid-America Apartment Communities had a return on equity of 9.10% and a net margin of 25.23%.The company had revenue of $554.37 million during the quarter, compared to the consensus estimate of $557.22 million. During the same quarter in the prior year, the business earned $2.21 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Mid-America Apartment Communities has set its FY 2025 guidance at 8.680-8.800 EPS. Q4 2025 guidance at 2.170-2.290 EPS. As a group, analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 15th were given a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Wednesday, October 15th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. Mid-America Apartment Communities’s dividend payout ratio is presently 128.39%.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.