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

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 44.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,090 shares of the real estate investment trust's stock after acquiring an additional 36,786 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.10% of Mid-America Apartment Communities worth $19,082,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Mid-America Apartment Communities by 0.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 155,906 shares of the real estate investment trust's stock valued at $20,515,000 after purchasing an additional 492 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Mid-America Apartment Communities by 5.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust's stock worth $227,000 after buying an additional 90 shares during the last quarter. Cetera Investment Advisers lifted its stake in shares of Mid-America Apartment Communities by 33.0% in the 1st quarter. Cetera Investment Advisers now owns 51,421 shares of the real estate investment trust's stock worth $6,766,000 after acquiring an additional 12,773 shares during the period. Cetera Advisors LLC boosted its holdings in shares of Mid-America Apartment Communities by 525.5% in the first quarter. Cetera Advisors LLC now owns 21,460 shares of the real estate investment trust's stock valued at $2,824,000 after acquiring an additional 18,029 shares in the last quarter. Finally, Kathmere Capital Management LLC increased its stake in shares of Mid-America Apartment Communities by 4.7% during the second quarter. Kathmere Capital Management LLC now owns 2,405 shares of the real estate investment trust's stock worth $323,000 after acquiring an additional 108 shares during the period. 93.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MAA has been the subject of a number of recent analyst reports. Truist Financial raised their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a "buy" rating in a research report on Monday, August 26th. Bank of America upgraded Mid-America Apartment Communities from an "underperform" rating to a "buy" rating and lifted their price target for the company from $144.00 to $189.00 in a research note on Monday, August 12th. Scotiabank dropped their price objective on Mid-America Apartment Communities from $174.00 to $173.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Wedbush raised their target price on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an "outperform" rating in a report on Monday, August 5th. Finally, Royal Bank of Canada lowered their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a "sector perform" rating on the stock in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $162.68.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $164.09 on Friday. The company has a market cap of $19.18 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 2.66 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 12 month low of $121.51 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 company has a 50-day simple moving average of $156.72 and a 200-day simple moving average of $149.93.

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

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.58%. Mid-America Apartment Communities's payout ratio is currently 132.73%.

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.