Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 26.4% during the 4th quarter, Holdings Channel reports. The firm owned 79,026 shares of the real estate investment trust’s stock after acquiring an additional 16,521 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mid-America Apartment Communities were worth $10,626,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in Mid-America Apartment Communities by 9.2% in the 4th quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock worth $21,020,000 after acquiring an additional 13,045 shares during the last quarter. Columbus Macro LLC purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth about $1,280,000. Sunesis Advisors LLC boosted its holdings in shares of Mid-America Apartment Communities by 393.1% during the fourth quarter. Sunesis Advisors LLC now owns 22,842 shares of the real estate investment trust’s stock worth $3,071,000 after purchasing an additional 18,210 shares during the period. Covestor Ltd grew its stake in shares of Mid-America Apartment Communities by 71.9% in the third quarter. Covestor Ltd now owns 667 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 279 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Mid-America Apartment Communities by 0.8% during the 4th quarter. Arizona State Retirement System now owns 32,068 shares of the real estate investment trust’s stock valued at $4,312,000 after purchasing an additional 241 shares during the period. 93.60% of the stock is currently owned by institutional investors.

Insider Transactions at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 2,807 shares of company stock worth $353,955. Corporate insiders own 1.33% of the company’s stock.

Wall Street Analysts Forecast Growth

MAA has been the topic of a number of recent analyst reports. Truist Financial cut their price objective on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a research report on Tuesday, April 9th. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and lifted their price target for the company from $133.00 to $147.00 in a report on Tuesday, January 16th. The Goldman Sachs Group restated a “buy” rating and issued a $149.00 price objective on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $139.00 target price on the stock. Finally, Morgan Stanley increased their price target on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and an average price target of $143.18.

Mid-America Apartment Communities Stock Up 1.2 %

MAA stock opened at $126.08 on Friday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average of $128.92 and a 200 day moving average of $128.63. Mid-America Apartment Communities, Inc. has a twelve month low of $115.56 and a twelve month high of $158.46. The firm has a market cap of $14.72 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 2.80 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.93). The company had revenue of $542.25 million for the quarter, compared to the consensus estimate of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. Mid-America Apartment Communities’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.32 earnings per share. On average, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 annualized dividend and a yield of 4.66%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 124.84%.

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.