APG Asset Management N.V. Boosts Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

APG Asset Management N.V. grew its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 76.1% in the 4th quarter, HoldingsChannel reports. The firm owned 144,400 shares of the real estate investment trust’s stock after purchasing an additional 62,400 shares during the quarter. APG Asset Management N.V.’s holdings in Mid-America Apartment Communities were worth $21,555,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new position in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $826,562,000. JPMorgan Chase & Co. lifted its stake 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 worth $517,015,000 after acquiring an additional 708,125 shares during the last quarter. Geode Capital Management LLC lifted its stake in Mid-America Apartment Communities by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust’s stock worth $492,421,000 after acquiring an additional 52,050 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Mid-America Apartment Communities by 1.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,656,669 shares of the real estate investment trust’s stock worth $410,641,000 after acquiring an additional 40,436 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted 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 worth $214,715,000 after acquiring an additional 33,528 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock opened at $157.90 on Thursday. The firm’s fifty day simple moving average is $161.32 and its 200-day simple moving average is $157.22. The stock has a market capitalization of $18.46 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 3.72 and a beta of 0.79. Mid-America Apartment Communities, Inc. has a 12 month low of $123.73 and a 12 month high of $173.38. 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 announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (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%. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a $1.515 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $6.06 annualized dividend and a yield of 3.84%. Mid-America Apartment Communities’s dividend payout ratio is currently 135.27%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MAA shares. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price target on shares of Mid-America Apartment Communities in a research note on Tuesday, February 11th. Royal Bank of Canada lifted their price target on shares of 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 upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $159.50 to $168.00 in a research note on Friday, January 24th. Truist Financial lifted their price target 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. Finally, Evercore ISI boosted their price objective on shares of Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $168.90.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,643 shares of the business’s stock in a transaction on Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the transaction, the chief executive officer now directly owns 319,813 shares of the company’s stock, valued at approximately $47,949,563.09. The trade was a 0.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 7,140 shares of company stock valued at $1,142,842. 1.30% of the stock is owned by company insiders.

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.