California Public Employees Retirement System Purchases 31,920 Shares of Mid-America Apartment Communities, Inc. (MAA)

California Public Employees Retirement System increased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 12.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 280,653 shares of the real estate investment trust’s stock after buying an additional 31,920 shares during the period. California Public Employees Retirement System owned about 0.25% of Mid-America Apartment Communities worth $29,996,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. increased its stake in Mid-America Apartment Communities by 32.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 382 shares during the last quarter. Group One Trading L.P. purchased a new position in Mid-America Apartment Communities in the third quarter valued at approximately $209,000. Timber Hill LLC purchased a new position in Mid-America Apartment Communities in the third quarter valued at approximately $218,000. Commerce Bank purchased a new position in Mid-America Apartment Communities in the second quarter valued at approximately $223,000. Finally, Parametrica Management Ltd purchased a new position in Mid-America Apartment Communities in the third quarter valued at approximately $236,000. Hedge funds and other institutional investors own 92.97% of the company’s stock.

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) opened at $103.10 on Monday. The firm has a market capitalization of $11,714.94, a P/E ratio of 17.36, a PEG ratio of 2.49 and a beta of 0.34. Mid-America Apartment Communities, Inc. has a fifty-two week low of $92.50 and a fifty-two week high of $110.95.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.61. Mid-America Apartment Communities had a return on equity of 4.22% and a net margin of 16.73%. The business had revenue of $384.60 million during the quarter, compared to the consensus estimate of $386.96 million. During the same period in the prior year, the company earned $1.47 earnings per share. The company’s revenue was up 38.9% compared to the same quarter last year. research analysts anticipate that Mid-America Apartment Communities, Inc. will post 5.92 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be issued a dividend of $0.9225 per share. The ex-dividend date is Thursday, January 11th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. This represents a $3.69 annualized dividend and a dividend yield of 3.58%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 156.76%.

In related news, Director William Reid Sanders purchased 7,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was purchased at an average cost of $100.11 per share, with a total value of $700,770.00. Following the completion of the acquisition, the director now directly owns 8,209 shares in the company, valued at $821,802.99. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.25% of the stock is owned by company insiders.

Several equities analysts have commented on the stock. Jefferies Group lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. JMP Securities downgraded Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a report on Thursday, October 19th. UBS downgraded Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 29th. Finally, BMO Capital Markets downgraded Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $107.00 price objective for the company. in a report on Monday, November 27th. Nine research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Mid-America Apartment Communities presently has a consensus rating of “Buy” and an average price target of $110.50.

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About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.

Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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