Norges Bank Invests $826.56 Million in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Norges Bank acquired a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,347,496 shares of the real estate investment trust's stock, valued at approximately $826,562,000. Norges Bank owned approximately 4.58% of Mid-America Apartment Communities at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Inspire Investing LLC raised its position in Mid-America Apartment Communities by 0.9% during the fourth quarter. Inspire Investing LLC now owns 7,978 shares of the real estate investment trust's stock worth $1,233,000 after acquiring an additional 68 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 68 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of Mid-America Apartment Communities by 0.6% during the 4th quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust's stock worth $1,704,000 after purchasing an additional 69 shares during the last quarter. Chesley Taft & Associates LLC lifted its stake in Mid-America Apartment Communities by 1.6% in the 4th quarter. Chesley Taft & Associates LLC now owns 4,828 shares of the real estate investment trust's stock valued at $746,000 after buying an additional 75 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Mid-America Apartment Communities by 30.5% during the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 75 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

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Mid-America Apartment Communities Stock Up 0.2 %

MAA traded up $0.29 during trading hours on Tuesday, reaching $167.87. 137,638 shares of the stock traded hands, compared to its average volume of 773,074. Mid-America Apartment Communities, Inc. has a fifty-two week low of $123.73 and a fifty-two week high of $173.38. The company has a market cap of $19.62 billion, a price-to-earnings ratio of 37.48, a PEG ratio of 3.72 and a beta of 0.90. 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 simple moving average is $159.95 and its two-hundred day simple moving average is $157.55.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating the consensus estimate 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, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities's payout ratio is 135.27%.

Analysts Set New Price Targets

MAA has been the topic of a number of analyst reports. KeyCorp raised Mid-America Apartment Communities from a "sector weight" rating to an "overweight" rating and set a $180.00 price objective on the stock in a research note on Tuesday, December 17th. Royal Bank of Canada upped their price objective on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a "sector perform" rating in a research note on Friday, February 7th. Barclays lifted 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 research note on Wednesday, February 19th. Scotiabank raised Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and increased their price target for the stock from $173.00 to $182.00 in a research note on Friday, February 14th. Finally, Evercore ISI raised their price objective on Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an "in-line" rating in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $168.90.

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.