Bank of America Corp DE Has $102.77 Million Position in Mid-America Apartment Communities, Inc. $MAA

Bank of America Corp DE lifted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 11.5% during the first quarter, HoldingsChannel reports. The firm owned 841,563 shares of the real estate investment trust’s stock after buying an additional 87,091 shares during the quarter. Bank of America Corp DE’s holdings in Mid-America Apartment Communities were worth $102,772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth $750,603,000. Viking Global Investors LP acquired a new position in Mid-America Apartment Communities in the 3rd quarter worth $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Mid-America Apartment Communities by 621.0% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock worth $168,805,000 after purchasing an additional 1,040,525 shares in the last quarter. Millennium Management LLC increased its holdings in Mid-America Apartment Communities by 3,129.2% during the 4th quarter. Millennium Management LLC now owns 738,065 shares of the real estate investment trust’s stock worth $102,525,000 after purchasing an additional 715,209 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Mid-America Apartment Communities by 30.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,030,848 shares of the real estate investment trust’s stock valued at $282,105,000 after purchasing an additional 474,989 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Ratings Changes

MAA has been the topic of several research reports. Citigroup restated a “market outperform” rating on shares of Mid-America Apartment Communities in a research note on Wednesday, June 10th. Mizuho lifted their price objective on shares of Mid-America Apartment Communities from $148.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. UBS Group cut their price objective on shares of Mid-America Apartment Communities from $134.00 to $132.00 and set a “neutral” rating on the stock in a research report on Thursday, May 14th. Piper Sandler reduced their target price on shares of Mid-America Apartment Communities from $143.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Finally, Truist Financial raised their target price on shares of Mid-America Apartment Communities from $136.00 to $146.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $145.38.

Insider Buying and Selling

In other Mid-America Apartment Communities news, Director Tamara D. Fischer acquired 1,100 shares of Mid-America Apartment Communities stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average cost of $128.55 per share, with a total value of $141,405.00. Following the completion of the purchase, the director directly owned 1,100 shares of the company’s stock, valued at $141,405. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Trading Up 1.0%

Shares of MAA stock opened at $134.90 on Friday. Mid-America Apartment Communities, Inc. has a 12-month low of $120.30 and a 12-month high of $146.41. The company has a market capitalization of $15.65 billion, a PE ratio of 39.44 and a beta of 0.73. The firm has a 50 day moving average price of $135.60 and a two-hundred day moving average price of $131.72. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.02.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Wednesday, July 15th were paid a $1.53 dividend. This represents a $6.12 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Wednesday, July 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 178.95%.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.