Kentucky Retirement Systems Insurance Trust Fund Has $507,000 Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,852 shares of the real estate investment trust’s stock after selling 305 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Mid-America Apartment Communities were worth $507,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Covestor Ltd increased its stake in Mid-America Apartment Communities by 12.3% in the 1st quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 93 shares during the period. Blue Trust Inc. increased its stake in Mid-America Apartment Communities by 22.8% in the 4th quarter. Blue Trust Inc. now owns 511 shares of the real estate investment trust’s stock valued at $65,000 after buying an additional 95 shares during the period. Oakworth Capital Inc. grew its position in Mid-America Apartment Communities by 0.6% in the fourth quarter. Oakworth Capital Inc. now owns 15,212 shares of the real estate investment trust’s stock worth $2,045,000 after acquiring an additional 98 shares in the last quarter. Czech National Bank grew its position in Mid-America Apartment Communities by 0.5% in the first quarter. Czech National Bank now owns 20,536 shares of the real estate investment trust’s stock worth $2,702,000 after acquiring an additional 99 shares in the last quarter. Finally, State of Michigan Retirement System grew its position in Mid-America Apartment Communities by 0.3% in the first quarter. State of Michigan Retirement System now owns 33,599 shares of the real estate investment trust’s stock worth $4,421,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Mizuho boosted their target price on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Scotiabank boosted their target price on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. Morgan Stanley boosted their target price on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an “equal weight” rating in a research report on Wednesday, May 15th. Truist Financial boosted their target price on shares of Mid-America Apartment Communities from $148.00 to $156.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Finally, UBS Group upped their price objective on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $141.59.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock traded up $1.03 on Monday, hitting $143.53. The company’s stock had a trading volume of 148,899 shares, compared to its average volume of 766,823. The company has a fifty day moving average price of $138.84 and a 200-day moving average price of $133.24. The firm has a market cap of $16.77 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 3.17 and a beta of 0.85. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $150.79. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.23 by ($1.01). The business had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.28 earnings per share. On average, equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $1.47 dividend. The ex-dividend date is Monday, July 15th. This represents a $5.88 dividend on an annualized basis and a yield of 4.10%. Mid-America Apartment Communities’s payout ratio is presently 123.27%.

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.