Panagora Asset Management Inc. boosted its position in Mid-America Apartment Communities Inc. (NYSE:MAA) by 64.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 250,679 shares of the real estate investment trust’s stock after buying an additional 97,923 shares during the period. Panagora Asset Management Inc. owned approximately 0.33% of Mid-America Apartment Communities worth $25,622,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Huntington Asset Advisors Inc. purchased a new stake in shares of Mid-America Apartment Communities during the first quarter valued at $166,000. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Mid-America Apartment Communities during the first quarter valued at $203,000. IFP Advisors Inc increased its stake in shares of Mid-America Apartment Communities by 117.5% in the first quarter. IFP Advisors Inc now owns 2,697 shares of the real estate investment trust’s stock valued at $276,000 after buying an additional 1,457 shares during the period. Virginia Retirement System purchased a new stake in shares of Mid-America Apartment Communities during the first quarter valued at $329,000. Finally, Terra Nova Asset Management LLC increased its stake in shares of Mid-America Apartment Communities by 10.7% in the first quarter. Terra Nova Asset Management LLC now owns 7,967 shares of the real estate investment trust’s stock valued at $814,000 after buying an additional 770 shares during the period.
Shares of Mid-America Apartment Communities Inc. (NYSE:MAA) traded down 1.971% during mid-day trading on Wednesday, reaching $103.685. 798,815 shares of the company’s stock were exchanged. Mid-America Apartment Communities Inc. has a 1-year low of $75.00 and a 1-year high of $110.01. The company’s 50 day moving average is $104.20 and its 200 day moving average is $98.23. The stock has a market capitalization of $7.83 billion and a PE ratio of 24.859.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be paid a $0.82 dividend. The ex-dividend date is Wednesday, July 13th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.10%.
Several brokerages recently weighed in on MAA. BMO Capital Markets reissued a “buy” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, May 4th. Zacks Investment Research downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Jefferies Group reaffirmed a “hold” rating and issued a $104.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, May 5th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Mid-America Apartment Communities in a research report on Thursday, May 5th. Finally, SunTrust Banks Inc. reaffirmed a “hold” rating and issued a $110.00 target price (up previously from $103.00) on shares of Mid-America Apartment Communities in a research report on Friday, July 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Mid-America Apartment Communities has an average rating of “Hold” and a consensus target price of $100.70.
