Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Bought by Korea Investment CORP

Korea Investment CORP lifted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 135.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,632 shares of the real estate investment trust's stock after purchasing an additional 40,052 shares during the period. Korea Investment CORP owned approximately 0.06% of Mid-America Apartment Communities worth $10,763,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in Mid-America Apartment Communities in the third quarter valued at about $2,890,000. Metis Global Partners LLC increased its stake in Mid-America Apartment Communities by 9.5% in the 4th quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust's stock valued at $2,670,000 after purchasing an additional 1,499 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Mid-America Apartment Communities by 2.4% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust's stock valued at $28,711,000 after purchasing an additional 4,301 shares in the last quarter. Paradigm Asset Management Co. LLC raised its holdings in Mid-America Apartment Communities by 1,582.9% during the fourth quarter. Paradigm Asset Management Co. LLC now owns 6,698 shares of the real estate investment trust's stock worth $1,035,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Capital Investment Advisors LLC boosted its position in Mid-America Apartment Communities by 27.1% during the fourth quarter. Capital Investment Advisors LLC now owns 58,484 shares of the real estate investment trust's stock worth $9,040,000 after purchasing an additional 12,454 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

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Mid-America Apartment Communities Trading Down 1.8 %

Shares of MAA traded down $3.00 during mid-day trading on Thursday, hitting $165.00. The company had a trading volume of 227,206 shares, compared to its average volume of 702,788. Mid-America Apartment Communities, Inc. has a 1-year low of $123.73 and a 1-year high of $173.38. 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 business's 50-day simple moving average is $160.71 and its 200-day simple moving average is $157.63. The stock has a market cap of $19.29 billion, a PE ratio of 36.83, a P/E/G ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating analysts' consensus estimates 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%. Sell-side 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 declared 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 of this dividend is Tuesday, April 15th. This represents a $6.06 annualized dividend and a yield of 3.67%. Mid-America Apartment Communities's dividend payout ratio is presently 135.27%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MAA shares. Wells Fargo & Company cut their price target on Mid-America Apartment Communities from $174.00 to $164.00 and set an "overweight" rating for the company in a research note on Friday, January 24th. Royal Bank of Canada lifted their target price on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Scotiabank raised shares of Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and upped their price target for the company from $173.00 to $182.00 in a report on Friday, February 14th. BMO Capital Markets dropped their price objective 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 note on Tuesday, January 21st. Finally, Truist Financial upped their target price on Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company 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.