California Public Employees Retirement System Trims Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

California Public Employees Retirement System lowered its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 197,763 shares of the real estate investment trust’s stock after selling 10,852 shares during the period. California Public Employees Retirement System owned 0.17% of Mid-America Apartment Communities worth $30,568,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. IFP Advisors Inc boosted its stake in Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 68 shares during the period. Quarry LP bought a new position in shares of Mid-America Apartment Communities in the third quarter valued at approximately $45,000. UMB Bank n.a. grew its stake in Mid-America Apartment Communities by 30.5% during the fourth quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 75 shares in the last quarter. Catalyst Capital Advisors LLC increased its holdings in Mid-America Apartment Communities by 57.8% during the 4th quarter. Catalyst Capital Advisors LLC now owns 363 shares of the real estate investment trust’s stock worth $56,000 after acquiring an additional 133 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Mid-America Apartment Communities in the 3rd quarter worth approximately $63,000. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Price Performance

MAA stock opened at $168.08 on Thursday. The stock has a market capitalization of $19.65 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 3.72 and a beta of 0.90. The firm’s 50-day moving average price is $160.71 and its two-hundred day moving average price is $157.63. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities, Inc. has a 12-month low of $123.73 and a 12-month high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. As a group, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a $1.515 dividend. This represents a $6.06 annualized dividend and a yield of 3.61%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 135.27%.

Analyst Upgrades and Downgrades

MAA has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Morgan Stanley raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $159.50 to $168.00 in a report on Friday, January 24th. Evercore ISI boosted their price objective on Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. JMP Securities reiterated a “market outperform” rating and set a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Finally, KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price target on the stock in a report on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $168.90.

Mid-America Apartment Communities Company Profile

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.