KLP Kapitalforvaltning AS Takes Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

KLP Kapitalforvaltning AS acquired a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,200 shares of the real estate investment trust’s stock, valued at approximately $6,059,000.

A number of other hedge funds also recently bought and sold shares of the company. Sei Investments Co. grew its stake in shares of Mid-America Apartment Communities by 535.1% during the 4th quarter. Sei Investments Co. now owns 176,442 shares of the real estate investment trust’s stock valued at $27,273,000 after purchasing an additional 148,662 shares during the period. American Century Companies Inc. boosted its holdings in shares of Mid-America Apartment Communities by 4.6% in the fourth quarter. American Century Companies Inc. now owns 39,927 shares of the real estate investment trust’s stock worth $6,172,000 after buying an additional 1,760 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in Mid-America Apartment Communities by 46.2% during the fourth quarter. Mizuho Securities USA LLC now owns 11,078 shares of the real estate investment trust’s stock valued at $1,712,000 after buying an additional 3,499 shares during the last quarter. Kiker Wealth Management LLC purchased a new stake in Mid-America Apartment Communities during the fourth quarter valued at approximately $362,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Mid-America Apartment Communities by 36.9% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 62,627 shares of the real estate investment trust’s stock worth $9,680,000 after acquiring an additional 16,871 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

MAA has been the subject of a number of recent research reports. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 price objective for the company in a research report on Tuesday, December 17th. Truist Financial upped their price target on Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Barclays lifted their price objective on Mid-America Apartment Communities from $152.00 to $163.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Mizuho lowered their price target on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $168.90.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock opened at $163.19 on Wednesday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities, Inc. has a twelve month low of $123.73 and a twelve month high of $173.38. The company’s 50-day moving average price is $158.72 and its 200-day moving average price is $157.48. The company has a market cap of $19.08 billion, a PE ratio of 36.43, a price-to-earnings-growth ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (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%. On average, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company 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. This represents a $6.06 annualized dividend and a yield of 3.71%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities’s payout ratio is 135.27%.

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.