Public Employees Retirement System of Ohio Decreases Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Public Employees Retirement System of Ohio lessened its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,176 shares of the real estate investment trust's stock after selling 1,805 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.18% of Mid-America Apartment Communities worth $32,023,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Mid-America Apartment Communities during the 4th quarter valued at about $826,562,000. Capital World Investors increased its stake in shares of Mid-America Apartment Communities by 45.9% during the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock valued at $1,025,868,000 after buying an additional 2,088,143 shares during the period. Deutsche Bank AG raised its holdings in shares of Mid-America Apartment Communities by 312.6% in the 4th quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust's stock valued at $189,507,000 after purchasing an additional 928,851 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Mid-America Apartment Communities by 26.9% during the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust's stock worth $517,015,000 after buying an additional 708,125 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Mid-America Apartment Communities during the fourth quarter valued at about $95,671,000. Institutional investors own 93.60% of the company's stock.

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the transaction, the chief executive officer now directly owns 319,813 shares in the company, valued at approximately $47,949,563.09. This represents a 0.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Amber Fairbanks sold 173 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total value of $28,865.05. Following the completion of the sale, the executive vice president now owns 3,012 shares in the company, valued at $502,552.20. This represents a 5.43% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,313 shares of company stock worth $1,171,707. Company insiders own 1.30% of the company's stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock traded up $0.55 on Wednesday, hitting $154.78. The company had a trading volume of 885,970 shares, compared to its average volume of 748,920. Mid-America Apartment Communities, Inc. has a twelve month low of $126.77 and a twelve month high of $173.38. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm has a market cap of $18.12 billion, a P/E ratio of 34.55, a price-to-earnings-growth ratio of 3.72 and a beta of 0.80. The company has a 50-day moving average price of $159.56 and a 200-day moving average price of $158.23.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The company had revenue of $549.30 million during the quarter, compared to analysts' expectations of $551.21 million. During the same period last year, the business earned $2.22 earnings per share. Mid-America Apartment Communities's quarterly revenue was up 1.0% on a year-over-year basis. As a group, equities research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be paid a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.92%. Mid-America Apartment Communities's dividend payout ratio (DPR) is 126.25%.

Analyst Ratings Changes

Several research analysts recently commented on MAA shares. Robert W. Baird boosted their price objective on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Truist Financial reduced their price target on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research report on Wednesday, May 21st. Barclays increased their price objective on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Mizuho dropped their target price on Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Jefferies Financial Group upgraded Mid-America Apartment Communities from a "hold" rating to a "buy" rating and increased their price target for the company from $148.00 to $190.00 in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $169.50.

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.