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

The Manufacturers Life Insurance Company raised its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 89,290 shares of the real estate investment trust’s stock after buying an additional 1,308 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Mid-America Apartment Communities worth $14,188,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MAA. Ashton Thomas Securities LLC purchased a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth $25,000. EdgeRock Capital LLC purchased a new stake in Mid-America Apartment Communities in the second quarter worth about $26,000. Activest Wealth Management bought a new position in shares of Mid-America Apartment Communities in the third quarter worth about $32,000. Versant Capital Management Inc lifted its position in shares of Mid-America Apartment Communities by 3,071.4% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 215 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Mid-America Apartment Communities during the 3rd quarter valued at about $37,000. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Trading Down 0.6 %

MAA opened at $164.16 on Monday. The stock has a 50-day moving average of $156.72 and a 200 day moving average of $150.02. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 12 month low of $121.51 and a 12 month high of $167.39. The firm has a market cap of $19.19 billion, a P/E ratio of 37.06, a P/E/G ratio of 2.64 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate 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%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.29 EPS. As a group, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.58%. Mid-America Apartment Communities’s payout ratio is 132.73%.

Analysts Set New Price Targets

A number of research firms have commented on MAA. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They set a “buy” rating and a $187.00 target price on the stock. StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Scotiabank decreased their price target 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. Deutsche Bank Aktiengesellschaft upped their price objective on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada decreased their target price on 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $162.68.

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.