Korea Investment CORP Raises Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Korea Investment CORP boosted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 135.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,632 shares of the real estate investment trust’s stock after buying an additional 40,052 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Mid-America Apartment Communities worth $10,763,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Mid-America Apartment Communities by 0.9% in the third quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust’s stock valued at $1,228,569,000 after purchasing an additional 65,696 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Mid-America Apartment Communities by 1.6% in 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 during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Mid-America Apartment Communities by 2.5% in the 4th 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 buying an additional 33,528 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Mid-America Apartment Communities by 516.4% during 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 worth $170,694,000 after buying an additional 899,960 shares in the last quarter. Finally, Aew Capital Management L P raised its holdings in shares of Mid-America Apartment Communities by 516.3% in the fourth quarter. Aew Capital Management L P now owns 630,994 shares of the real estate investment trust’s stock valued at $97,533,000 after acquiring an additional 528,608 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $165.93 on Monday. Mid-America Apartment Communities, Inc. has a 52 week low of $123.73 and a 52 week high of $173.38. The business’s 50 day moving average price is $159.61 and its 200 day moving average price is $157.52. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm has a market cap of $19.40 billion, a P/E ratio of 37.04, a P/E/G ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data 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%. On average, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The business 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 dividend of $1.515 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.65%. Mid-America Apartment Communities’s payout ratio is currently 135.27%.

Analysts Set New Price Targets

Several brokerages have issued reports on MAA. Barclays increased their target price on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 19th. Truist Financial lifted their price objective on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a report on Monday, March 10th. Mizuho lowered their target price on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Scotiabank raised Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $173.00 to $182.00 in a research report on Friday, February 14th. Finally, Raymond James raised their price objective on Mid-America Apartment Communities from $180.00 to $185.00 and gave the company a “strong-buy” rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Moderate Buy” and a consensus target price 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.