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

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 26.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 owned about 0.07% of Mid-America Apartment Communities worth $10,626,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nordea Investment Management AB boosted its holdings in Mid-America Apartment Communities by 9.2% in the fourth quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock valued at $21,020,000 after purchasing an additional 13,045 shares during the last quarter. Columbus Macro LLC acquired a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth approximately $1,280,000. Sunesis Advisors LLC increased its stake in shares of Mid-America Apartment Communities by 393.1% in the fourth quarter. Sunesis Advisors LLC now owns 22,842 shares of the real estate investment trust’s stock worth $3,071,000 after buying an additional 18,210 shares during the last quarter. Covestor Ltd increased 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 buying an additional 279 shares during the last quarter. Finally, Arizona State Retirement System raised its holdings in Mid-America Apartment Communities by 0.8% in the fourth quarter. Arizona State Retirement System now owns 32,068 shares of the real estate investment trust’s stock valued at $4,312,000 after acquiring an additional 241 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MAA shares. Royal Bank of Canada reissued a “sector perform” rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Piper Sandler reissued a “neutral” rating and issued a $140.00 price objective on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Truist Financial reduced their target price on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Scotiabank raised Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and upped their price target for the company from $133.00 to $147.00 in a research report on Tuesday, January 16th. Finally, Morgan Stanley boosted their target price on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $143.18.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $126.08 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $14.72 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 2.80 and a beta of 0.80. The stock’s 50 day moving average price is $128.92 and its 200 day moving average price is $128.63. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $158.46.

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

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a dividend of $1.47 per share. The ex-dividend date is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.66%. Mid-America Apartment Communities’s payout ratio is 124.84%.

Insiders Place Their Bets

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

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.