Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 49.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,307 shares of the real estate investment trust's stock after selling 15,915 shares during the period. Ontario Teachers Pension Plan Board's holdings in Mid-America Apartment Communities were worth $2,591,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Duquesne Family Office LLC bought a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at $91,868,000. Long Pond Capital LP boosted its stake in Mid-America Apartment Communities by 550.9% in the 2nd quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust's stock worth $92,270,000 after purchasing an additional 547,607 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Mid-America Apartment Communities by 17.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust's stock valued at $375,515,000 after acquiring an additional 393,067 shares in the last quarter. Ceredex Value Advisors LLC raised its stake in shares of Mid-America Apartment Communities by 107.1% in the second quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust's stock worth $94,424,000 after purchasing an additional 342,335 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Mid-America Apartment Communities by 176.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 339,081 shares of the real estate investment trust's stock worth $48,356,000 after buying an additional 216,610 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock traded down $0.41 during mid-day trading on Wednesday, reaching $157.72. 475,193 shares of the company were exchanged, compared to its average volume of 748,813. The firm's 50-day simple moving average is $157.12 and its two-hundred day simple moving average is $148.64. Mid-America Apartment Communities, Inc. has a twelve month low of $120.99 and a twelve month high of $167.39. The firm has a market cap of $18.43 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.54 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The business had revenue of $551.13 million during the quarter, compared to analysts' expectations of $548.53 million. During the same period in the prior year, the firm posted $2.29 EPS. Mid-America Apartment Communities's revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.73%. 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 Analyst Weigh In

Several brokerages recently commented on MAA. Deutsche Bank Aktiengesellschaft lifted their price objective on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a "hold" rating in a report on Tuesday, September 10th. Raymond James raised shares of Mid-America Apartment Communities from a "market perform" rating to a "strong-buy" rating and set a $175.00 price objective for the company in a research report on Monday, October 21st. Truist Financial raised their price objective on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a "buy" rating in a research note 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 target on the stock. Finally, Bank of America raised shares of Mid-America Apartment Communities from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $144.00 to $189.00 in a report on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $161.64.

Mid-America Apartment Communities 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.