Norges Bank Takes Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Norges Bank purchased a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,347,496 shares of the real estate investment trust’s stock, valued at approximately $826,562,000. Norges Bank owned approximately 4.58% of Mid-America Apartment Communities at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Mid-America Apartment Communities by 516.4% in the third 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. JPMorgan Chase & Co. lifted its stake in shares of Mid-America Apartment Communities by 26.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock valued at $517,015,000 after purchasing an additional 708,125 shares during the period. Raymond James Financial Inc. bought a new position in shares of Mid-America Apartment Communities in the 4th quarter worth $95,671,000. Aew Capital Management L P grew its stake in shares of 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 purchasing an additional 528,608 shares during the period. Finally, Sei Investments Co. increased its holdings in Mid-America Apartment Communities by 535.1% in the fourth quarter. Sei Investments Co. now owns 176,442 shares of the real estate investment trust’s stock valued at $27,273,000 after purchasing an additional 148,662 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $164.68 on Friday. Mid-America Apartment Communities, Inc. has a fifty-two week low of $123.73 and a fifty-two week high of $173.38. The firm has a market capitalization of $19.25 billion, a PE ratio of 36.76, a PEG ratio of 3.72 and a beta of 0.90. The company’s 50-day moving average is $159.30 and its 200-day moving average is $157.58. 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 released its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, beating the consensus estimate 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 analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The business 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 dividend of $1.515 per share. This represents a $6.06 annualized dividend and a yield of 3.68%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 135.27%.

Analysts Set New Price Targets

MAA has been the topic of a number of recent analyst reports. BMO Capital Markets reduced their target price on Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a report on Tuesday, January 21st. StockNews.com upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. Evercore ISI upped their target price on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. JMP Securities reissued a “market outperform” rating and issued a $160.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, February 11th. Finally, Royal Bank of Canada raised their price objective 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. One 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $168.90.

About Mid-America Apartment Communities

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.