Royal Bank of Canada raised its stake in Mid-America Apartment Communities Inc. (NYSE:MAA) by 8.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 748,813 shares of the real estate investment trust’s stock after buying an additional 57,231 shares during the period. Royal Bank of Canada owned about 0.99% of Mid-America Apartment Communities worth $76,536,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. Deutsche Bank AG boosted its position in shares of Mid-America Apartment Communities by 791.0% in the fourth quarter. Deutsche Bank AG now owns 1,349,605 shares of the real estate investment trust’s stock valued at $122,555,000 after buying an additional 1,198,140 shares in the last quarter. Norges Bank acquired a new position in shares of Mid-America Apartment Communities during the fourth quarter valued at about $54,005,000. State Street Corp boosted its position in shares of Mid-America Apartment Communities by 15.7% in the first quarter. State Street Corp now owns 3,553,434 shares of the real estate investment trust’s stock valued at $363,194,000 after buying an additional 481,915 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Mid-America Apartment Communities by 10.7% in the first quarter. Goldman Sachs Group Inc. now owns 3,238,697 shares of the real estate investment trust’s stock valued at $331,028,000 after buying an additional 314,024 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Mid-America Apartment Communities by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 10,755,085 shares of the real estate investment trust’s stock valued at $976,669,000 after buying an additional 295,225 shares in the last quarter.
Shares of Mid-America Apartment Communities Inc. (NYSE:MAA) traded down 2.20% on Wednesday, reaching $103.44. 544,693 shares of the company were exchanged. Mid-America Apartment Communities Inc. has a 12 month low of $75.00 and a 12 month high of $110.01. The stock has a 50 day moving average price of $104.20 and a 200-day moving average price of $98.23. The stock has a market capitalization of $7.81 billion and a P/E ratio of 24.80.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be given a dividend of $0.82 per share. The ex-dividend date is Wednesday, July 13th. This represents a $3.28 annualized dividend and a yield of 3.10%.
Several research analysts have recently weighed in on MAA shares. Cantor Fitzgerald reissued a “buy” rating and issued a $99.00 target price on shares of Mid-America Apartment Communities in a research report on Sunday, June 5th. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $119.00 target price on the stock in a research report on Friday, July 15th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $115.00 target price (up from $104.00) on shares of Mid-America Apartment Communities in a research report on Wednesday, April 13th. Zacks Investment Research raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research report on Wednesday, April 6th. Finally, Jefferies Group dropped their target price on shares of Mid-America Apartment Communities from $104.00 to $103.00 and set a “hold” rating on the stock in a research report on Wednesday, June 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $100.70.
