Municipal Employees Retirement System of Michigan raised its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 155.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,250 shares of the real estate investment trust’s stock after buying an additional 5,630 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Mid-America Apartment Communities were worth $974,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Mid-America Apartment Communities by 2.0% in the first quarter. Vanguard Group Inc. now owns 19,723,897 shares of the real estate investment trust’s stock valued at $2,006,709,000 after buying an additional 391,852 shares in the last quarter. BlackRock Inc. raised its stake in Mid-America Apartment Communities by 2,003.1% in the first quarter. BlackRock Inc. now owns 10,265,099 shares of the real estate investment trust’s stock valued at $1,044,371,000 after buying an additional 9,777,008 shares in the last quarter. State Street Corp raised its stake in Mid-America Apartment Communities by 2.0% in the first quarter. State Street Corp now owns 6,727,050 shares of the real estate investment trust’s stock valued at $684,403,000 after buying an additional 134,757 shares in the last quarter. APG Asset Management US Inc. raised its stake in Mid-America Apartment Communities by 7.7% in the second quarter. APG Asset Management US Inc. now owns 3,639,414 shares of the real estate investment trust’s stock valued at $383,521,000 after buying an additional 260,897 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Mid-America Apartment Communities by 6.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,656,631 shares of the real estate investment trust’s stock valued at $168,545,000 after buying an additional 104,406 shares in the last quarter. Hedge funds and other institutional investors own 92.30% of the company’s stock.

Mid-America Apartment Communities, Inc. (NYSE MAA) opened at 104.02 on Friday. Mid-America Apartment Communities, Inc. has a 52-week low of $85.04 and a 52-week high of $110.95. The stock has a 50 day moving average price of $103.32 and a 200 day moving average price of $101.70. The firm has a market cap of $11.82 billion, a P/E ratio of 48.09 and a beta of 0.35.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.03. The company had revenue of $382.80 million for the quarter, compared to analysts’ expectations of $382.17 million. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. Mid-America Apartment Communities’s revenue was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.54 EPS. Equities analysts predict that Mid-America Apartment Communities, Inc. will post $1.69 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 14th were issued a $0.87 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.35%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 148.72%.

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Several analysts have issued reports on MAA shares. BMO Capital Markets restated a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, July 27th. Royal Bank Of Canada restated a “buy” rating on shares of Mid-America Apartment Communities in a research note on Thursday, April 27th. Zacks Investment Research upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research note on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating and issued a $115.00 price objective on shares of Mid-America Apartment Communities in a research note on Monday, July 10th. Finally, BidaskClub upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research note on Saturday, June 10th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Mid-America Apartment Communities presently has a consensus rating of “Buy” and an average target price of $108.83.

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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