Ontario Teachers Pension Plan Board Has $2.59 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Ontario Teachers Pension Plan Board cut its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 49.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,307 shares of the real estate investment trust’s stock after selling 15,915 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Mid-America Apartment Communities were worth $2,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at $25,000. EdgeRock Capital LLC acquired a new position in Mid-America Apartment Communities in the second quarter valued at $26,000. Versant Capital Management Inc boosted its position in Mid-America Apartment Communities by 3,071.4% during the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 215 shares during the last quarter. UMB Bank n.a. boosted its position in Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 108 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $158.13 on Wednesday. Mid-America Apartment Communities, Inc. has a one year low of $120.32 and a one year high of $167.39. The company has a market cap of $18.48 billion, a P/E ratio of 35.70, a P/E/G ratio of 2.54 and a beta of 0.88. The firm has a 50-day moving average of $157.12 and a 200-day moving average of $148.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results 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). The firm had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 EPS. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MAA shares. JMP Securities boosted their price objective on Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. Royal Bank of Canada dropped their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a “buy” rating and a $187.00 target price on the stock. Finally, BNP Paribas started coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities currently has an average rating of “Hold” and an average price target of $161.64.

Mid-America Apartment Communities Company 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.