65,021 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 65,021 shares of the real estate investment trust's stock, valued at approximately $10,012,000. Resona Asset Management Co. Ltd. owned approximately 0.06% of Mid-America Apartment Communities as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of the company. Huntington National Bank increased its stake in shares of Mid-America Apartment Communities by 6.4% in the 4th quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust's stock valued at $181,000 after purchasing an additional 70 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 valued at $410,641,000 after purchasing an additional 40,436 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $46,000. Geode Capital Management LLC raised its stake in shares of Mid-America Apartment Communities by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust's stock worth $492,421,000 after buying an additional 52,050 shares during the period. Finally, Franklin Resources Inc. lifted its position in shares of Mid-America Apartment Communities by 9.4% during the 4th quarter. Franklin Resources Inc. now owns 483,743 shares of the real estate investment trust's stock valued at $74,772,000 after buying an additional 41,390 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Truist Financial boosted 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 report on Monday, March 10th. BMO Capital Markets reduced their price target on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating for the company in a research report on Tuesday, January 21st. Raymond James raised their price target on shares of Mid-America Apartment Communities from $180.00 to $185.00 and gave the company a "strong-buy" rating in a research note on Thursday, March 20th. Morgan Stanley upgraded Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $159.50 to $168.00 in a research note on Friday, January 24th. Finally, JMP Securities restated a "market outperform" rating and issued a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of "Moderate Buy" and an average price target of $168.90.

Mid-America Apartment Communities Trading Down 1.8 %

Shares of MAA stock traded down $2.77 during trading on Friday, hitting $152.10. 499,156 shares of the stock traded hands, compared to its average volume of 725,010. The firm has a market capitalization of $17.78 billion, a P/E ratio of 33.90, a price-to-earnings-growth ratio of 3.72 and a beta of 0.79. Mid-America Apartment Communities, Inc. has a 52-week low of $123.73 and a 52-week 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. The firm's fifty day moving average price is $161.36 and its 200-day moving average price is $157.16.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. As a group, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is 135.27%.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,643 shares of Mid-America Apartment Communities stock in a transaction on Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 7,140 shares of company stock valued at $1,142,842. Company insiders own 1.30% of the company's stock.

Mid-America Apartment Communities Company 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.