Massachusetts Financial Services Co. MA Boosts Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Massachusetts Financial Services Co. MA boosted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,656,669 shares of the real estate investment trust’s stock after purchasing an additional 40,436 shares during the period. Massachusetts Financial Services Co. MA owned about 2.27% of Mid-America Apartment Communities worth $410,641,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MAA. Y Intercept Hong Kong Ltd bought a new position in shares of Mid-America Apartment Communities during the 3rd quarter valued at approximately $2,890,000. Metis Global Partners LLC boosted its position in shares of Mid-America Apartment Communities by 9.5% in the fourth quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust’s stock worth $2,670,000 after purchasing an additional 1,499 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Mid-America Apartment Communities by 2.4% in the third quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust’s stock worth $28,711,000 after purchasing an additional 4,301 shares during the period. Paradigm Asset Management Co. LLC raised its position in shares of Mid-America Apartment Communities by 1,582.9% during the 4th quarter. Paradigm Asset Management Co. LLC now owns 6,698 shares of the real estate investment trust’s stock valued at $1,035,000 after purchasing an additional 6,300 shares during the period. Finally, Capital Investment Advisors LLC lifted its stake in shares of Mid-America Apartment Communities by 27.1% during the 4th quarter. Capital Investment Advisors LLC now owns 58,484 shares of the real estate investment trust’s stock valued at $9,040,000 after buying an additional 12,454 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

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

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data 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, equities analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.61%. Mid-America Apartment Communities’s dividend payout ratio is currently 135.27%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Scotiabank raised Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $173.00 to $182.00 in a report on Friday, February 14th. Truist Financial lifted their target price on 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. Royal Bank of Canada upped their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Morgan Stanley raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $159.50 to $168.00 in a report on Friday, January 24th. Finally, Mizuho cut their target price on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of “Moderate Buy” and a consensus price target of $168.90.

Mid-America Apartment Communities 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.