Principal Financial Group Inc. Boosts Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Principal Financial Group Inc. increased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 143,909 shares of the real estate investment trust’s stock after purchasing an additional 4,618 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Mid-America Apartment Communities worth $22,867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MAA. State Street Corp lifted its stake in Mid-America Apartment Communities by 0.9% in 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 grew its position in shares of 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 buying an additional 48,168 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Mid-America Apartment Communities by 17.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after purchasing an additional 393,067 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Mid-America Apartment Communities by 6.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock worth $244,803,000 after purchasing an additional 97,672 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Mid-America Apartment Communities by 2.8% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock valued at $234,497,000 after buying an additional 44,621 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 0.9 %

NYSE MAA opened at $154.76 on Thursday. The firm’s 50-day moving average is $156.94 and its two-hundred day moving average is $152.82. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities, Inc. has a 12 month low of $121.51 and a 12 month high of $167.39. The stock has a market capitalization of $18.09 billion, a P/E ratio of 34.93, a PEG ratio of 2.53 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. During the same quarter in the prior year, the firm posted $2.29 EPS. Mid-America Apartment Communities’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a $1.515 dividend. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.92%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s payout ratio is 136.79%.

Analyst Ratings Changes

Several brokerages recently weighed in on MAA. StockNews.com downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Barclays assumed coverage on Mid-America Apartment Communities in a report on Tuesday, December 17th. They issued an “equal weight” rating and a $166.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 target price on the stock. Finally, BNP Paribas began coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $163.76.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.