48,000 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 48,000 shares of the real estate investment trust’s stock, valued at approximately $7,627,000.

A number of other institutional investors have also recently added to or reduced their stakes in MAA. Townsquare Capital LLC raised its holdings in shares of Mid-America Apartment Communities by 8.7% in the 3rd quarter. Townsquare Capital LLC now owns 53,060 shares of the real estate investment trust’s stock worth $8,431,000 after purchasing an additional 4,259 shares during the period. BNP Paribas Financial Markets raised its holdings in Mid-America Apartment Communities by 56.9% in the third quarter. BNP Paribas Financial Markets now owns 168,313 shares of the real estate investment trust’s stock valued at $26,745,000 after buying an additional 61,047 shares during the period. Brooklyn Investment Group purchased a new position in Mid-America Apartment Communities in the third quarter valued at approximately $69,000. Quantbot Technologies LP purchased a new stake in Mid-America Apartment Communities during the third quarter worth approximately $249,000. Finally, D.A. Davidson & CO. increased its position in shares of Mid-America Apartment Communities by 4.2% in the third quarter. D.A. Davidson & CO. now owns 2,297 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Down 0.7 %

Shares of NYSE MAA opened at $164.09 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average price is $156.69 and its two-hundred day moving average price is $149.73. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The stock has a market capitalization of $19.18 billion, a P/E ratio of 37.04, a PEG ratio of 2.66 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (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 analyst estimates of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.29 earnings per share. On average, analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of research reports. Raymond James raised shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target for the company in a research report on Monday, October 21st. Piper Sandler increased their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. The Goldman Sachs Group started coverage on Mid-America Apartment Communities in a report on Wednesday, September 4th. They set a “buy” rating and a $187.00 target price on the stock. Deutsche Bank Aktiengesellschaft upped their price target on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, JMP Securities boosted their target price on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $162.68.

About Mid-America Apartment Communities

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.