Principal Financial Group Inc. Raises Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Principal Financial Group Inc. grew its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 1.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,228 shares of the real estate investment trust's stock after purchasing an additional 2,800 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of Mid-America Apartment Communities worth $32,214,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC lifted its stake in Mid-America Apartment Communities by 106.9% during the first quarter. Summit Trail Advisors LLC now owns 4,401 shares of the real estate investment trust's stock worth $738,000 after purchasing an additional 2,274 shares in the last quarter. Starwood Capital Group Management L.L.C. lifted its stake in Mid-America Apartment Communities by 17.7% during the fourth quarter. Starwood Capital Group Management L.L.C. now owns 219,407 shares of the real estate investment trust's stock worth $33,914,000 after purchasing an additional 33,000 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Mid-America Apartment Communities by 1.6% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 362,264 shares of the real estate investment trust's stock worth $60,708,000 after purchasing an additional 5,650 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Mid-America Apartment Communities by 7.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,328 shares of the real estate investment trust's stock worth $1,396,000 after purchasing an additional 608 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Mid-America Apartment Communities by 22.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 147,482 shares of the real estate investment trust's stock worth $22,796,000 after purchasing an additional 27,392 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $150.09 on Tuesday. The stock's 50-day moving average is $154.57 and its two-hundred day moving average is $156.48. The firm has a market cap of $17.57 billion, a price-to-earnings ratio of 31.27, a PEG ratio of 3.85 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 1 year low of $137.51 and a 1 year high of $173.38. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.11 and a current ratio of 0.11.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The company had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. During the same quarter last year, the company posted $2.22 earnings per share. The business's quarterly revenue was up 1.0% compared to the same quarter last year. Analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be issued a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio is currently 126.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JMP Securities upped their price target on Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 22nd. Jefferies Financial Group upgraded Mid-America Apartment Communities from a "hold" rating to a "buy" rating and increased their price objective for the company from $148.00 to $190.00 in a research note on Monday, March 10th. Barclays increased their price objective on Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an "equal weight" rating in a research note on Friday, May 9th. Truist Financial reduced their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Finally, Scotiabank reduced their price objective on Mid-America Apartment Communities from $194.00 to $180.00 and set a "sector outperform" rating on the stock in a research note on Friday, June 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $169.76.

Insider Activity

In related news, EVP Amber Fairbanks sold 173 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the transaction, the executive vice president owned 3,012 shares of the company's stock, valued at $502,552.20. This trade represents a 5.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Company 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.

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