California Public Employees Retirement System Reduces Stake in Mid-America Apartment Communities, Inc. $MAA

Key Points

• CalPERS cut its stake in Mid-America Apartment Communities by 34% in the first quarter, selling 138,697 shares and leaving it with 269,258 shares valued at about $32.9 million.
• MAA reported strong quarterly earnings of $2.13 per share, well above analyst expectations of $0.83, while revenue came in slightly below estimates. The company also raised guidance for Q2 2026 and FY 2026.
• The company continues to pay a sizable dividend, declaring a quarterly payout of $1.53 per share, which annualizes to $6.12 and implies a 4.6% yield.

California Public Employees Retirement System lessened its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 34.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 269,258 shares of the real estate investment trust's stock after selling 138,697 shares during the period. California Public Employees Retirement System owned 0.23% of Mid-America Apartment Communities worth $32,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its holdings in shares of Mid-America Apartment Communities by 1.6% in the third quarter. State Street Corp now owns 8,119,375 shares of the real estate investment trust's stock valued at $1,134,520,000 after purchasing an additional 125,130 shares during the period. Norges Bank acquired a new stake in Mid-America Apartment Communities during the fourth quarter worth about $750,603,000. Viking Global Investors LP raised its stake in Mid-America Apartment Communities by 46.7% during the fourth quarter. Viking Global Investors LP now owns 3,880,048 shares of the real estate investment trust's stock worth $538,977,000 after purchasing an additional 1,234,966 shares during the period. Geode Capital Management LLC raised its stake in Mid-America Apartment Communities by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 3,423,986 shares of the real estate investment trust's stock worth $473,977,000 after purchasing an additional 40,028 shares during the period. Finally, Invesco Ltd. boosted its holdings in Mid-America Apartment Communities by 6.7% in the 4th quarter. Invesco Ltd. now owns 2,154,600 shares of the real estate investment trust's stock valued at $299,295,000 after purchasing an additional 134,739 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock opened at $132.24 on Wednesday. The stock has a market capitalization of $15.39 billion, a price-to-earnings ratio of 40.07 and a beta of 0.74. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.13 and a quick ratio of 0.13. The business has a 50-day moving average of $134.45 and a 200 day moving average of $131.95. Mid-America Apartment Communities, Inc. has a 12 month low of $120.30 and a 12 month high of $153.93.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $1.30. Mid-America Apartment Communities had a net margin of 17.60% and a return on equity of 6.61%. The company had revenue of $553.73 million for the quarter, compared to analyst estimates of $555.75 million. During the same period in the prior year, the firm earned $2.20 earnings per share. The business's revenue for the quarter was up .8% compared to the same quarter last year. Mid-America Apartment Communities has set its Q2 2026 guidance at 2.000-2.120 EPS and its FY 2026 guidance at 8.370-8.690 EPS. As a group, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.5 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be paid a $1.53 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.12 annualized dividend and a dividend yield of 4.6%. Mid-America Apartment Communities's payout ratio is 185.45%.

Insider Activity

In related news, Director Tamara D. Fischer bought 1,100 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was purchased at an average cost of $128.55 per share, for a total transaction of $141,405.00. Following the completion of the acquisition, the director owned 1,100 shares in the company, valued at approximately $141,405. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Scotiabank increased their price target on shares of Mid-America Apartment Communities from $129.00 to $137.00 and gave the company a "sector underperform" rating in a research note on Thursday, July 9th. Morgan Stanley lifted their price target on shares of Mid-America Apartment Communities from $150.00 to $155.00 and gave the company an "overweight" rating in a research report on Thursday, June 25th. Piper Sandler upped their price objective on Mid-America Apartment Communities from $140.00 to $143.00 and gave the company a "neutral" rating in a report on Tuesday. Truist Financial increased their price objective on Mid-America Apartment Communities from $136.00 to $146.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Finally, Cantor Fitzgerald cut their target price on Mid-America Apartment Communities from $141.00 to $132.00 and set a "neutral" rating for the company in a research note on Monday, May 4th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Mid-America Apartment Communities currently has an average rating of "Hold" and an average price target of $144.75.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc NYSE: MAA is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA's portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.

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