Allianz SE Takes $1.06 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Allianz SE purchased a new position in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,949 shares of the real estate investment trust’s stock, valued at approximately $1,063,000.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp raised its holdings in Mid-America Apartment Communities by 0.9% in the third quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust’s stock worth $1,228,569,000 after purchasing an additional 65,696 shares in the last quarter. Norges Bank purchased a new position in shares of Mid-America Apartment Communities in the 4th quarter worth approximately $826,562,000. JPMorgan Chase & Co. raised its stake in shares of Mid-America Apartment Communities by 26.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock worth $517,015,000 after acquiring an additional 708,125 shares in the last quarter. Geode Capital Management LLC lifted its position in Mid-America Apartment Communities by 1.6% during the third quarter. Geode Capital Management LLC now owns 3,141,138 shares of the real estate investment trust’s stock valued at $497,624,000 after acquiring an additional 48,168 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Mid-America Apartment Communities by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,389,113 shares of the real estate investment trust’s stock valued at $214,715,000 after acquiring an additional 33,528 shares in the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MAA has been the topic of a number of recent analyst reports. Morgan Stanley raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $159.50 to $168.00 in a research report on Friday, January 24th. Evercore ISI upped their target price on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Royal Bank of Canada raised their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Truist Financial lifted their target price on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a “buy” rating in a research note on Monday, March 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Moderate Buy” and an average target price of $168.90.

Mid-America Apartment Communities Stock Performance

MAA opened at $165.93 on Monday. The firm has a fifty day moving average price of $159.61 and a 200 day moving average price of $157.52. Mid-America Apartment Communities, Inc. has a 1 year low of $123.73 and a 1 year high of $173.38. The stock has a market cap of $19.40 billion, a P/E ratio of 37.04, a P/E/G ratio of 3.72 and a beta of 0.90. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share 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%. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 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.