KLP Kapitalforvaltning AS Buys Shares of 39,200 Mid-America Apartment Communities, Inc. (NYSE:MAA)

KLP Kapitalforvaltning AS bought a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the fourth quarter, HoldingsChannel.com reports. The fund bought 39,200 shares of the real estate investment trust’s stock, valued at approximately $6,059,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp grew its position in Mid-America Apartment Communities by 0.9% in the 3rd quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust’s stock valued at $1,228,569,000 after acquiring an additional 65,696 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Mid-America Apartment Communities by 1.6% in the third quarter. Geode Capital Management LLC now owns 3,141,138 shares of the real estate investment trust’s stock worth $497,624,000 after purchasing an additional 48,168 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Mid-America Apartment Communities by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,389,113 shares of the real estate investment trust’s stock worth $214,715,000 after buying an additional 33,528 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Mid-America Apartment Communities by 516.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,074,223 shares of the real estate investment trust’s stock valued at $170,694,000 after buying an additional 899,960 shares in the last quarter. Finally, Aew Capital Management L P boosted its position in Mid-America Apartment Communities by 516.3% in the 4th quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust’s stock valued at $97,533,000 after buying an additional 528,608 shares during the period. 93.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on MAA. Truist Financial lifted their price target on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, March 10th. Morgan Stanley upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $159.50 to $168.00 in a report on Friday, January 24th. Royal Bank of Canada raised their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Scotiabank raised shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $173.00 to $182.00 in a research note on Friday, February 14th. Finally, Raymond James raised their target price on shares of Mid-America Apartment Communities from $180.00 to $185.00 and gave the company a “strong-buy” rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $168.90.

Mid-America Apartment Communities Trading Down 0.3 %

Mid-America Apartment Communities stock opened at $163.19 on Wednesday. Mid-America Apartment Communities, Inc. has a one year low of $123.73 and a one year high of $173.38. The stock has a market cap of $19.08 billion, a PE ratio of 36.43, a price-to-earnings-growth ratio of 3.72 and a beta of 0.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a 50-day moving average of $158.72 and a two-hundred day moving average of $157.48.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. On average, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a $1.515 dividend. This represents a $6.06 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities’s payout ratio is 135.27%.

Mid-America Apartment Communities Company Profile

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.