Bank of America Corp DE Takes $113.69 Million Position in Mid-America Apartment Communities, Inc. $MAA

Key Points

• Bank of America acquired 818,301 MAA shares worth approximately $113.7 million, giving it a 0.71% stake. Institutional investors collectively own 93.6% of the apartment REIT.
• MAA reported quarterly EPS of $2.08, well above the $0.76 consensus estimate, while revenue of $555.13 million was up 1% year over year and slightly below expectations.
• Shares opened at $118.98, near their 12-month low, while analysts maintain a consensus “Hold” rating with an average price target of $142.31 after several firms reduced their targets.

Bank of America Corp DE acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 818,301 shares of the real estate investment trust's stock, valued at approximately $113,695,000. Bank of America Corp DE owned about 0.71% of Mid-America Apartment Communities as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Mid-America Apartment Communities during the 2nd quarter worth $1,820,661,000. Norges Bank acquired a new position in Mid-America Apartment Communities in the fourth quarter valued at about $750,603,000. Geode Capital Management LLC boosted its stake in Mid-America Apartment Communities by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 3,423,986 shares of the real estate investment trust's stock worth $473,977,000 after buying an additional 40,028 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Mid-America Apartment Communities by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,772,445 shares of the real estate investment trust's stock valued at $216,450,000 after acquiring an additional 63,519 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at approximately $175,377,000. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Down 1.8%

MAA stock opened at $118.98 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities, Inc. has a 12 month low of $118.91 and a 12 month high of $144.41. The firm has a market capitalization of $13.80 billion, a PE ratio of 34.79 and a beta of 0.73. The company's 50 day simple moving average is $130.83 and its 200-day simple moving average is $130.58.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $2.08 earnings per share for the quarter, topping the consensus estimate of $0.76 by $1.32. Mid-America Apartment Communities had a return on equity of 6.99% and a net margin of 18.17%.The company had revenue of $555.13 million during the quarter, compared to the consensus estimate of $556.18 million. During the same quarter last year, the business posted $2.15 earnings per share. Mid-America Apartment Communities's revenue was up 1.0% compared to the same quarter last year. Mid-America Apartment Communities has set its FY 2026 guidance at 8.410-8.650 EPS and its Q3 2026 guidance at 2.040-2.160 EPS. Equities analysts expect that Mid-America Apartment Communities, Inc. will post 8.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MAA shares. Mizuho dropped their target price on shares of Mid-America Apartment Communities from $152.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday, September 8th. Wells Fargo & Company dropped their price objective on Mid-America Apartment Communities from $148.00 to $146.00 and set an "overweight" rating for the company in a research note on Tuesday, September 1st. Wall Street Zen upgraded Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings raised Mid-America Apartment Communities from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 20th. Finally, Truist Financial lowered their target price on Mid-America Apartment Communities from $146.00 to $132.00 and set a "buy" rating for the company in a report on Thursday. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of "Hold" and an average price target of $142.31.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc NYSE: MAA is a self-administered and self-managed real estate investment trust that owns, operates, acquires and develops multifamily apartment communities. The company focuses primarily on conventional apartment properties and generates revenue through leasing residential units to individuals and families.

MAA's portfolio is concentrated in the Sun Belt region of the United States, including markets across the Southeast, Southwest and parts of the South Central United States.

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