The Manufacturers Life Insurance Company Acquires 1,308 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

The Manufacturers Life Insurance Company lifted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,290 shares of the real estate investment trust’s stock after purchasing an additional 1,308 shares during the period. The Manufacturers Life Insurance Company’s holdings in Mid-America Apartment Communities were worth $14,188,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $25,000. EdgeRock Capital LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter valued at approximately $26,000. Versant Capital Management Inc grew its stake in Mid-America Apartment Communities by 3,071.4% in 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 in the last quarter. Activest Wealth Management purchased a new position in Mid-America Apartment Communities during the 3rd quarter worth $32,000. Finally, UMB Bank n.a. raised its position in Mid-America Apartment Communities by 82.4% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MAA. Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a research report on Monday, October 21st. BNP Paribas began coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 target price on the stock. 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 for the company in a research report on Friday, November 1st. StockNews.com lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and an average target price of $162.68.

Mid-America Apartment Communities Stock Down 0.6 %

MAA stock opened at $164.16 on Monday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 52 week low of $121.51 and a 52 week high of $167.39. The stock has a market capitalization of $19.19 billion, a PE ratio of 37.06, a price-to-earnings-growth ratio of 2.64 and a beta of 0.88. The firm has a 50 day moving average of $156.72 and a 200 day moving average of $150.02.

Mid-America Apartment Communities (NYSE:MAA) 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). The company had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. Mid-America Apartment Communities’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $2.29 earnings per share. Sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 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.