Pictet Asset Management Holding SA Decreases Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Pictet Asset Management Holding SA lowered its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,707 shares of the real estate investment trust’s stock after selling 2,783 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Mid-America Apartment Communities worth $11,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its position in Mid-America Apartment Communities by 3.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 187,781 shares of the real estate investment trust’s stock worth $29,025,000 after acquiring an additional 7,092 shares during the last quarter. Duff & Phelps Investment Management Co. raised its position in shares of Mid-America Apartment Communities by 271.3% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 289,188 shares of the real estate investment trust’s stock worth $44,700,000 after purchasing an additional 211,308 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Mid-America Apartment Communities in the 4th quarter valued at approximately $1,926,000. Norges Bank acquired a new stake in Mid-America Apartment Communities during the 4th quarter valued at $826,562,000. Finally, NEOS Investment Management LLC increased its position in Mid-America Apartment Communities by 28.4% during the fourth quarter. NEOS Investment Management LLC now owns 5,614 shares of the real estate investment trust’s stock worth $868,000 after buying an additional 1,242 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MAA. Mizuho reduced their price objective on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Raymond James raised their price target on shares of Mid-America Apartment Communities from $180.00 to $185.00 and gave the stock a “strong-buy” rating in a research note on Thursday, March 20th. Royal Bank of Canada boosted their price objective on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. JMP Securities restated a “market outperform” rating and set a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company cut their price target on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $168.90.

Mid-America Apartment Communities Price Performance

MAA opened at $168.08 on Thursday. Mid-America Apartment Communities, Inc. has a 52-week low of $123.73 and a 52-week high of $173.38. The company has a 50 day moving average of $160.71 and a two-hundred day moving average of $157.63. The company has a market cap of $19.65 billion, a P/E ratio of 37.52, a P/E/G ratio of 3.72 and a beta of 0.90. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. On average, analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a dividend of $1.515 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.61%. Mid-America Apartment Communities’s payout ratio is currently 135.27%.

Mid-America Apartment Communities 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.