Trade Report: Today: First Citizens Bank & Trust Co. Raises its position in Mid-America Apartment Communities Inc. (MAA) as a favorable investment target.

Today: First Citizens Bank & Trust Co. Raises its position in Mid-America Apartment Communities Inc. (MAA) as a favorable investment target.

First Citizens Bank & Trust Co. raised its position in Mid-America Apartment Communities Inc. (NYSE:MAA) by 6.8% during the second quarter, Holdings Channel reports. The institutional investor owned 4,269 shares of the real estate investment trust’s stock after buying an additional 272 shares during the period. First Citizens Bank & Trust Co.’s holdings in Mid-America Apartment Communities were worth $454,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of MAA. State Street Corp raised its position in 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 worth $363,194,000 after buying an additional 481,915 shares in the last quarter. NN Investment Partners Holdings N.V. raised its position in Mid-America Apartment Communities by 1,481.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 478,541 shares of the real estate investment trust’s stock worth $50,918,000 after buying an additional 448,279 shares in the last quarter. Goldman Sachs Group Inc. raised its position in 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 worth $331,028,000 after buying an additional 314,024 shares in the last quarter. Bank of Montreal Can acquired a new position in Mid-America Apartment Communities during the second quarter worth about $13,838,000. Finally, Renaissance Technologies LLC raised its position in Mid-America Apartment Communities by 19.3% in the first quarter. Renaissance Technologies LLC now owns 775,000 shares of the real estate investment trust’s stock worth $79,213,000 after buying an additional 125,638 shares in the last quarter. 96.86% of the stock is owned by institutional investors.

Shares of Mid-America Apartment Communities Inc. (NYSE:MAA) traded up 0.12% during midday trading on Friday, reaching $89.00. 745,423 shares of the company’s stock traded hands. Mid-America Apartment Communities Inc. has a 52 week low of $82.05 and a 52 week high of $110.01. The stock’s 50 day moving average is $92.80 and its 200-day moving average is $99.29. The company has a market capitalization of $6.72 billion, a PE ratio of 30.08 and a beta of 0.33.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.08. The business earned $272.20 million during the quarter, compared to the consensus estimate of $272.71 million. Mid-America Apartment Communities had a return on equity of 7.10% and a net margin of 20.93%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 earnings per share. On average, analysts forecast that Mid-America Apartment Communities Inc. will post $5.92 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, October 14th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Wednesday, October 12th. Mid-America Apartment Communities’s payout ratio is currently 111.56%.

MAA has been the subject of a number of recent research reports. KeyCorp raised shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $119.00 price target for the company in a research report on Friday, July 15th. SunTrust Banks Inc. raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $108.00 price target for the company in a research report on Friday, August 19th. Citigroup Inc. raised their price target on shares of Mid-America Apartment Communities from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. Zacks Investment Research raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a report on Wednesday, July 6th. Finally, BTIG Research assumed coverage on shares of Mid-America Apartment Communities in a report on Thursday, August 25th. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Mid-America Apartment Communities currently has an average rating of “Hold” and a consensus price target of $103.25.

About Mid-America Apartment Communities

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