BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 2,863 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 12.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,490 shares of the real estate investment trust’s stock after selling 2,863 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Mid-America Apartment Communities were worth $3,097,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MAA. QRG Capital Management Inc. increased its stake in Mid-America Apartment Communities by 12.8% during the second quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock valued at $4,352,000 after acquiring an additional 3,451 shares during the period. Prosperity Consulting Group LLC acquired a new position in shares of Mid-America Apartment Communities in the second quarter valued at $2,572,000. Portside Wealth Group LLC acquired a new position in shares of Mid-America Apartment Communities in the second quarter valued at $808,000. Swedbank AB lifted its position in Mid-America Apartment Communities by 2.6% in the third quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust’s stock worth $32,350,000 after purchasing an additional 5,178 shares during the period. Finally, Bank of Montreal Can boosted its stake in Mid-America Apartment Communities by 6.1% during the second quarter. Bank of Montreal Can now owns 156,374 shares of the real estate investment trust’s stock worth $22,446,000 after buying an additional 8,984 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Stock Down 0.7 %

Shares of NYSE MAA opened at $161.15 on Wednesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $18.84 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 2.61 and a beta of 0.90. The firm’s 50-day moving average is $156.66 and its 200-day moving average is $150.45. Mid-America Apartment Communities, Inc. has a 1 year low of $121.51 and a 1 year high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The business had revenue of $551.13 million for the quarter, compared to analyst estimates 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 revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.29 EPS. Equities analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 132.73%.

Wall Street Analysts Forecast Growth

MAA has been the subject of a number of analyst reports. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective for the company. Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a report on Monday, October 21st. Truist Financial boosted their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $138.00 to $174.00 in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft upped 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 note on Tuesday, September 10th. Two equities 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 has a consensus rating of “Hold” and a consensus 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.