Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,291 shares of the real estate investment trust’s stock after purchasing an additional 1,815 shares during the period. Principal Financial Group Inc. owned about 0.12% of Mid-America Apartment Communities worth $19,864,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Mid-America Apartment Communities during the fourth quarter worth approximately $713,500,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Mid-America Apartment Communities by 188.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock valued at $195,179,000 after acquiring an additional 949,171 shares during the period. Balyasny Asset Management L.P. raised its position in Mid-America Apartment Communities by 96.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock valued at $164,085,000 after purchasing an additional 600,547 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Mid-America Apartment Communities by 103.1% during the 4th quarter. 1832 Asset Management L.P. now owns 1,030,038 shares of the real estate investment trust’s stock worth $138,499,000 after purchasing an additional 522,851 shares during the period. Finally, Ceredex Value Advisors LLC grew its position in Mid-America Apartment Communities by 107.1% during the 2nd quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock worth $94,424,000 after purchasing an additional 342,335 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MAA has been the subject of a number of research reports. Janney Montgomery Scott raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price for the company in a report on Thursday, June 13th. Scotiabank increased their price objective on Mid-America Apartment Communities from $151.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $138.00 to $174.00 in a report on Monday, August 26th. Piper Sandler upped their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Morgan Stanley lifted their price objective on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a research report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $154.66.

Mid-America Apartment Communities Price Performance

MAA stock opened at $163.57 on Wednesday. The firm has a 50 day moving average of $147.80 and a 200-day moving average of $137.69. The company has a market cap of $19.11 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 3.61 and a beta of 0.85. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. Mid-America Apartment Communities, Inc. has a 12-month low of $115.56 and a 12-month high of $164.88.

Mid-America Apartment Communities Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.