Allstate Corp Acquires Shares of 3,567 Mid-America Apartment Communities, Inc. (NYSE:MAA)

Allstate Corp bought a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the fourth quarter, HoldingsChannel reports. The firm bought 3,567 shares of the real estate investment trust’s stock, valued at approximately $551,000.

Other hedge funds also recently made changes to their positions in the company. DnB Asset Management AS lifted its stake in Mid-America Apartment Communities by 1.0% during the fourth quarter. DnB Asset Management AS now owns 19,302 shares of the real estate investment trust’s stock worth $2,984,000 after purchasing an additional 185 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Mid-America Apartment Communities by 19.3% in the 4th quarter. Orion Portfolio Solutions LLC now owns 25,398 shares of the real estate investment trust’s stock worth $3,926,000 after buying an additional 4,104 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Mid-America Apartment Communities by 3.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 187,781 shares of the real estate investment trust’s stock valued at $29,025,000 after buying an additional 7,092 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in shares of Mid-America Apartment Communities by 271.3% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 289,188 shares of the real estate investment trust’s stock valued at $44,700,000 after buying an additional 211,308 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at about $1,926,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Down 0.1 %

Shares of MAA stock opened at $167.48 on Wednesday. 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 debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The business’s fifty day moving average is $160.29 and its 200-day moving average is $157.56. The stock has a market cap of $19.58 billion, a PE ratio of 37.38, a price-to-earnings-growth ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, topping 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%. Equities analysts expect 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. Investors 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 3.62%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 135.27%.

Analysts Set New Price Targets

MAA has been the subject of a number of research reports. BMO Capital Markets decreased their target price on 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. Mizuho lowered their price objective on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. KeyCorp raised Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price on the stock in a research report on Tuesday, December 17th. StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Wells Fargo & Company dropped their price objective on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.