Bank of Nova Scotia Has $2.49 Million Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Bank of Nova Scotia grew its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,136 shares of the real estate investment trust’s stock after acquiring an additional 467 shares during the quarter. Bank of Nova Scotia’s holdings in Mid-America Apartment Communities were worth $2,493,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Inspire Investing LLC increased its position in Mid-America Apartment Communities by 0.9% during the 4th quarter. Inspire Investing LLC now owns 7,978 shares of the real estate investment trust’s stock worth $1,233,000 after purchasing an additional 68 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Mid-America Apartment Communities by 37.2% during the fourth quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 68 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Mid-America Apartment Communities by 0.6% during the fourth quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust’s stock worth $1,704,000 after purchasing an additional 69 shares during the last quarter. Huntington National Bank increased its stake in shares of Mid-America Apartment Communities by 6.4% in the fourth quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust’s stock valued at $181,000 after buying an additional 70 shares during the period. Finally, Chesley Taft & Associates LLC raised its holdings in Mid-America Apartment Communities by 1.6% in the 4th quarter. Chesley Taft & Associates LLC now owns 4,828 shares of the real estate investment trust’s stock valued at $746,000 after buying an additional 75 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. StockNews.com raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Sunday, April 6th. Barclays decreased their price objective on Mid-America Apartment Communities from $163.00 to $160.00 and set an “equal weight” rating for the company in a report on Friday. Truist Financial lifted their target price on Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a “buy” rating in a report on Monday, March 10th. Evercore ISI increased their price target on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Finally, Morgan Stanley raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $159.50 to $168.00 in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $168.76.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,643 shares of Mid-America Apartment Communities stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $149.93, for a total transaction of $396,264.99. Following the transaction, the chief executive officer now owns 319,813 shares of the company’s stock, valued at $47,949,563.09. This trade represents a 0.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 7,140 shares of company stock worth $1,142,842 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

Mid-America Apartment Communities Trading Down 0.4 %

NYSE:MAA opened at $154.24 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. Mid-America Apartment Communities, Inc. has a one year low of $123.73 and a one year high of $173.38. The company has a market cap of $18.03 billion, a PE ratio of 34.43, a PEG ratio of 3.72 and a beta of 0.79. The firm has a 50-day moving average of $161.35 and a 200-day moving average of $157.11.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. As a group, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio is 135.27%.

Mid-America Apartment Communities Company Profile

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.