1,990 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Purchased by RNC Capital Management LLC

RNC Capital Management LLC acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,990 shares of the real estate investment trust’s stock, valued at approximately $308,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Mid-America Apartment Communities by 0.9% during the 3rd 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. Geode Capital Management LLC increased its position in Mid-America Apartment Communities by 1.6% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Mid-America Apartment Communities by 3.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,355,585 shares of the real estate investment trust’s stock valued at $215,402,000 after buying an additional 39,123 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Mid-America Apartment Communities by 516.4% in 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 during the period. Finally, Swiss National Bank grew its holdings in Mid-America Apartment Communities by 0.3% in the 3rd quarter. Swiss National Bank now owns 346,676 shares of the real estate investment trust’s stock valued at $55,087,000 after buying an additional 1,100 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $158.04 on Friday. The business’s 50 day moving average is $153.77 and its two-hundred day moving average is $155.12. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The firm has a market cap of $18.47 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 2.46 and a beta of 0.91. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Analysts forecast that Mid-America Apartment Communities, Inc. will post 8.89 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were given a dividend of $1.515 per share. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. This represents a $6.06 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, January 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 136.79%.

Analyst Ratings Changes

MAA has been the subject of several recent analyst reports. BMO Capital Markets lowered their price target on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a report on Tuesday, January 21st. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price target for the company in a report on Tuesday, December 17th. StockNews.com upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Thursday. Barclays lowered their price target on Mid-America Apartment Communities from $166.00 to $152.00 and set an “equal weight” rating for the company in a report on Friday, January 24th. Finally, JMP Securities reiterated a “market outperform” rating and set a $160.00 target price on shares of Mid-America Apartment Communities in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Moderate Buy” and an average price target of $165.80.

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.