Public Sector Pension Investment Board raised its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 25.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,311 shares of the real estate investment trust's stock after buying an additional 4,110 shares during the period. Public Sector Pension Investment Board's holdings in Mid-America Apartment Communities were worth $3,227,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of MAA. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Mid-America Apartment Communities by 44.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 120,090 shares of the real estate investment trust's stock valued at $19,082,000 after purchasing an additional 36,786 shares during the period. First Commonwealth Financial Corp PA boosted its stake in shares of Mid-America Apartment Communities by 2.1% in the 3rd quarter. First Commonwealth Financial Corp PA now owns 4,178 shares of the real estate investment trust's stock valued at $664,000 after buying an additional 86 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $7,627,000. Townsquare Capital LLC grew its position in shares of Mid-America Apartment Communities by 8.7% during the third quarter. Townsquare Capital LLC now owns 53,060 shares of the real estate investment trust's stock worth $8,431,000 after buying an additional 4,259 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Mid-America Apartment Communities by 56.9% during the third quarter. BNP Paribas Financial Markets now owns 168,313 shares of the real estate investment trust's stock worth $26,745,000 after buying an additional 61,047 shares during the period. Institutional investors and hedge funds own 93.60% of the company's stock.
Shares of NYSE:MAA opened at $161.15 on Wednesday. Mid-America Apartment Communities, Inc. has a one year low of $121.51 and a one year high of $167.39. The stock has a market capitalization of $18.84 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 2.61 and a beta of 0.90. The company has a 50-day simple moving average of $156.70 and a 200-day simple moving average of $150.29. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company had revenue of $551.13 million for the quarter, compared to analysts' expectations of $548.53 million. During the same period in the prior year, the company earned $2.29 earnings per share. The firm's revenue was up 1.7% on a year-over-year basis. On average, analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.65%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 132.73%.
A number of research analysts recently issued reports on MAA shares. Truist Financial lifted their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a "buy" rating in a research note on Monday, August 26th. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Scotiabank dropped their target price on Mid-America Apartment Communities from $174.00 to $173.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. StockNews.com downgraded Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a report on Tuesday, November 5th. Finally, Raymond James raised Mid-America Apartment Communities from a "market perform" rating to a "strong-buy" rating and set a $175.00 price objective for the company in a research report on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $162.68.
View Our Latest Report on MAA
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.
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