PNC Financial Services Group Inc. Boosts Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

PNC Financial Services Group Inc. boosted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,589 shares of the real estate investment trust’s stock after buying an additional 191 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Mid-America Apartment Communities were worth $2,255,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at approximately $25,000. Activest Wealth Management acquired a new position in Mid-America Apartment Communities in the 3rd quarter valued at $32,000. IFP Advisors Inc raised its holdings in Mid-America Apartment Communities by 37.2% in the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 68 shares during the last quarter. Quarry LP acquired a new position in Mid-America Apartment Communities in the 3rd quarter valued at $45,000. Finally, UMB Bank n.a. raised its holdings in Mid-America Apartment Communities by 30.5% in the 4th quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $163.32 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a 50-day moving average of $156.69 and a two-hundred day moving average of $157.45. The stock has a market cap of $19.09 billion, a P/E ratio of 36.46, a PEG ratio of 3.72 and a beta of 0.90. Mid-America Apartment Communities, Inc. has a 1-year low of $123.73 and a 1-year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, beating 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, research analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MAA shares. Royal Bank of Canada boosted their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $160.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, February 11th. Evercore ISI boosted their price target on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an “in-line” rating in a report on Monday, February 10th. Jefferies Financial Group upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and boosted their price target for the company from $148.00 to $190.00 in a report on Monday, March 10th. Finally, Mizuho dropped their price objective on Mid-America Apartment Communities from $163.00 to $159.00 and set a “neutral” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $168.43.

About Mid-America Apartment Communities

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.