New York State Teachers Retirement System raised its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 50.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 253,176 shares of the real estate investment trust’s stock after buying an additional 85,423 shares during the period. New York State Teachers Retirement System owned approximately 0.22% of Mid-America Apartment Communities worth $24,791,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MAA. Catalyst Capital Advisors LLC acquired a new position in shares of Mid-America Apartment Communities during the third quarter valued at about $153,000. Kemper Corp Master Retirement Trust acquired a new position in shares of Mid-America Apartment Communities during the third quarter valued at about $172,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Mid-America Apartment Communities during the fourth quarter valued at about $219,000. First New York Securities LLC NY acquired a new position in shares of Mid-America Apartment Communities during the third quarter valued at about $214,000. Finally, Prudential PLC acquired a new position in shares of Mid-America Apartment Communities during the fourth quarter valued at about $229,000. Hedge funds and other institutional investors own 97.98% of the company’s stock.

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

Mid-America Apartment Communities, Inc. (NYSE:MAA) traded up 1.28% during midday trading on Thursday, hitting $99.47. 544,415 shares of the stock traded hands. Mid-America Apartment Communities, Inc. has a 52 week low of $85.04 and a 52 week high of $110.01. The stock’s 50-day moving average price is $96.85 and its 200 day moving average price is $94.55. The company has a market capitalization of $11.29 billion, a price-to-earnings ratio of 36.98 and a beta of 0.29.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, February 1st. The real estate investment trust reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.01. Mid-America Apartment Communities had a net margin of 18.83% and a return on equity of 6.14%. The business earned $307.20 million during the quarter, compared to analyst estimates of $302.58 million. During the same period in the previous year, the business posted $1.45 earnings per share. Mid-America Apartment Communities’s revenue for the quarter was up 16.7% on a year-over-year basis. On average, equities research analysts predict that Mid-America Apartment Communities, Inc. will post $2.07 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Friday, January 13th were given a dividend of $0.87 per share. The ex-dividend date was Wednesday, January 11th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.82. This represents a $3.48 annualized dividend and a yield of 3.50%. Mid-America Apartment Communities’s payout ratio is presently 128.41%.

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Several brokerages have issued reports on MAA. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 10th. Cantor Fitzgerald set a $107.00 price target on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a research report on Tuesday, December 6th. Robert W. Baird upgraded shares of Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and set a $100.00 price target for the company in a research report on Friday, December 2nd. RBC Capital Markets upgraded shares of Mid-America Apartment Communities from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from $106.00 to $103.00 in a research report on Tuesday, December 13th. Finally, Royal Bank Of Canada upgraded shares of Mid-America Apartment Communities from a “sector perform” rating to an “outperform” rating and decreased their price target for the company from $106.00 to $103.00 in a research report on Tuesday, December 13th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $106.07.

About Mid-America Apartment Communities

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