Zurich Insurance Group Ltd FI increased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 36.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 19,363 shares of the real estate investment trust’s stock after purchasing an additional 5,143 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Mid-America Apartment Communities were worth $2,040,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Aviva PLC boosted its stake in Mid-America Apartment Communities by 1.2% in the 2nd quarter. Aviva PLC now owns 70,978 shares of the real estate investment trust’s stock worth $7,481,000 after purchasing an additional 860 shares during the period. State Street Corp boosted its stake in Mid-America Apartment Communities by 2.0% in the 1st quarter. State Street Corp now owns 6,727,050 shares of the real estate investment trust’s stock worth $684,403,000 after purchasing an additional 134,757 shares during the period. GAM Holding AG boosted its stake in Mid-America Apartment Communities by 2.4% in the 2nd quarter. GAM Holding AG now owns 15,525 shares of the real estate investment trust’s stock worth $1,636,000 after purchasing an additional 365 shares during the period. Retirement Systems of Alabama boosted its stake in Mid-America Apartment Communities by 295.1% in the 2nd quarter. Retirement Systems of Alabama now owns 216,868 shares of the real estate investment trust’s stock worth $22,854,000 after purchasing an additional 161,982 shares during the period. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Mid-America Apartment Communities by 5.6% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 91,366 shares of the real estate investment trust’s stock worth $9,296,000 after purchasing an additional 4,824 shares during the period. 91.76% of the stock is owned by hedge funds and other institutional investors.

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MAA has been the subject of a number of research reports. BidaskClub raised shares of Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 20th. ValuEngine raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research note on Friday, September 8th. Jefferies Group LLC reissued a “buy” rating and set a $120.00 target price on shares of Mid-America Apartment Communities in a research note on Sunday, September 10th. BTIG Research raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Friday, September 8th. Finally, Stifel Nicolaus initiated coverage on shares of Mid-America Apartment Communities in a research note on Thursday, August 31st. They set a “hold” rating and a $113.00 target price for the company. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $109.75.

In other news, Director David P. Stockert sold 6,872 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total value of $730,768.48. Following the sale, the director now directly owns 77,180 shares in the company, valued at approximately $8,207,321.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.25% of the company’s stock.

Mid-America Apartment Communities, Inc. (NYSE MAA) opened at 107.93 on Friday. The firm has a market capitalization of $12.26 billion, a price-to-earnings ratio of 49.90 and a beta of 0.37. Mid-America Apartment Communities, Inc. has a 52-week low of $85.34 and a 52-week high of $110.95. The firm has a 50-day moving average of $107.09 and a 200-day moving average of $103.93.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.03. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The company had revenue of $382.80 million for the quarter, compared to the consensus estimate of $382.17 million. During the same period last year, the company posted $1.54 EPS. The firm’s quarterly revenue was up 40.6% compared to the same quarter last year. On average, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post $1.68 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be paid a $0.87 dividend. The ex-dividend date is Thursday, October 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.22%. Mid-America Apartment Communities’s payout ratio is currently 148.72%.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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