Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,656,669 shares of the real estate investment trust’s stock after acquiring an additional 40,436 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Mid-America Apartment Communities were worth $410,641,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at about $826,562,000. JPMorgan Chase & Co. lifted its holdings in Mid-America Apartment Communities by 26.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock valued at $517,015,000 after acquiring an additional 708,125 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Mid-America Apartment Communities in the fourth quarter worth approximately $95,671,000. Aew Capital Management L P increased its stake in Mid-America Apartment Communities by 516.3% during the fourth quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust’s stock worth $97,533,000 after acquiring an additional 528,608 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in Mid-America Apartment Communities by 271.3% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 289,188 shares of the real estate investment trust’s stock valued at $44,700,000 after purchasing an additional 211,308 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Up 0.4 %

Shares of Mid-America Apartment Communities stock opened at $168.08 on Thursday. Mid-America Apartment Communities, Inc. has a 52-week low of $123.73 and a 52-week high of $173.38. The company has a 50 day moving average of $160.71 and a 200 day moving average of $157.63. 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 company has a market capitalization of $19.65 billion, a P/E ratio of 37.52, a P/E/G ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last issued 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%. As a group, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be given a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 135.27%.

Analyst Ratings Changes

Several brokerages recently issued reports on MAA. KeyCorp upgraded shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective on the stock in a report on Tuesday, December 17th. Scotiabank raised shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the company from $173.00 to $182.00 in a research note on Friday, February 14th. Barclays upped their price objective on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Truist Financial lifted their target price on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Morgan Stanley upgraded 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 note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.90.

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.