The Manufacturers Life Insurance Company Has $12.55 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

The Manufacturers Life Insurance Company cut its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,982 shares of the real estate investment trust’s stock after selling 1,100 shares during the period. The Manufacturers Life Insurance Company’s holdings in Mid-America Apartment Communities were worth $12,547,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MAA. DecisionPoint Financial LLC bought a new position in Mid-America Apartment Communities during the 1st quarter worth $26,000. EdgeRock Capital LLC bought a new position in shares of Mid-America Apartment Communities in the second quarter worth $26,000. Mather Group LLC. acquired a new position in Mid-America Apartment Communities in the first quarter valued at about $32,000. Versant Capital Management Inc lifted its position in Mid-America Apartment Communities by 3,071.4% during the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 215 shares during the period. Finally, UMB Bank n.a. grew its stake in Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 108 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

MAA has been the subject of several analyst reports. 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 report on Monday, August 26th. JMP Securities upped their target price on Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their price target on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Piper Sandler upped their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Finally, Royal Bank of Canada lifted their target price on Mid-America Apartment Communities from $145.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus target price of $159.91.

Mid-America Apartment Communities Trading Down 1.2 %

MAA opened at $155.15 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $167.39. The company’s 50 day moving average price is $156.47 and its two-hundred day moving average price is $142.49. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 2.63 and a beta of 0.88.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a $1.47 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.79%. Mid-America Apartment Communities’s payout ratio is 123.27%.

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.