Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Purchased by Swiss National Bank

Swiss National Bank grew its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 346,676 shares of the real estate investment trust’s stock after purchasing an additional 1,100 shares during the quarter. Swiss National Bank owned 0.30% of Mid-America Apartment Communities worth $55,087,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in Mid-America Apartment Communities by 17.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after acquiring an additional 393,067 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Mid-America Apartment Communities by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock worth $244,803,000 after purchasing an additional 97,672 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of Mid-America Apartment Communities by 2.8% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock worth $234,497,000 after purchasing an additional 44,621 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Mid-America Apartment Communities by 1.5% in the first quarter. Canada Pension Plan Investment Board now owns 1,444,641 shares of the real estate investment trust’s stock valued at $190,086,000 after purchasing an additional 21,000 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in Mid-America Apartment Communities by 7.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 1,140,287 shares of the real estate investment trust’s stock valued at $162,616,000 after purchasing an additional 74,936 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MAA. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and upped their price objective for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $138.00 to $174.00 in a report 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 price objective on the stock. StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler lifted their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mid-America Apartment Communities has an average rating of “Hold” and an average target price of $161.64.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $158.13 on Wednesday. Mid-America Apartment Communities, Inc. has a 12 month low of $120.32 and a 12 month high of $167.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a fifty day moving average price of $157.12 and a 200 day moving average price of $148.64. The company has a market cap of $18.48 billion, a P/E ratio of 35.70, a PEG ratio of 2.54 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly 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%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 EPS. On average, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

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

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.