Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 15.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,302 shares of the real estate investment trust’s stock after purchasing an additional 2,161 shares during the quarter. CIBC Asset Management Inc’s holdings in Mid-America Apartment Communities were worth $2,528,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Clarius Group LLC increased its position in shares of Mid-America Apartment Communities by 4.0% in the second quarter. Clarius Group LLC now owns 1,496 shares of the real estate investment trust’s stock worth $261,000 after acquiring an additional 57 shares in the last quarter. Inspire Investing LLC increased its holdings in Mid-America Apartment Communities by 3.7% in the 2nd quarter. Inspire Investing LLC now owns 1,765 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 63 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its position in Mid-America Apartment Communities by 5.5% in the second quarter. Vestmark Advisory Solutions Inc. now owns 1,245 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 65 shares during the period. Quadrant Capital Group LLC lifted its stake in shares of Mid-America Apartment Communities by 7.8% during the second quarter. Quadrant Capital Group LLC now owns 1,009 shares of the real estate investment trust’s stock worth $176,000 after purchasing an additional 73 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of Mid-America Apartment Communities by 5.9% in the third quarter. Avantax Advisory Services Inc. now owns 1,394 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 78 shares during the period. Hedge funds and other institutional investors own 91.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada dropped their target price on Mid-America Apartment Communities from $177.00 to $170.00 and set a “sector perform” rating on the stock in a report on Friday, October 28th. Wolfe Research initiated coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, November 22nd. They set a “market perform” rating on the stock. BTIG Research decreased their target price on shares of Mid-America Apartment Communities from $225.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, January 11th. Mizuho dropped their price target on shares of Mid-America Apartment Communities from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Thursday, November 10th. Finally, Capital One Financial reissued an “overweight” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, November 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $182.85.

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, Director Monica Houle Mcgurk sold 921 shares of the business’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $162.01, for a total transaction of $149,211.21. Following the completion of the sale, the director now owns 835 shares in the company, valued at $135,278.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Monica Houle Mcgurk sold 921 shares of Mid-America Apartment Communities stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $162.01, for a total value of $149,211.21. Following the completion of the transaction, the director now directly owns 835 shares of the company’s stock, valued at approximately $135,278.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Albert M. Campbell III sold 883 shares of the stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $153.85, for a total transaction of $135,849.55. Following the sale, the chief financial officer now owns 55,826 shares in the company, valued at approximately $8,588,830.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,383 shares of company stock valued at $528,613. Corporate insiders own 1.34% of the company’s stock.

Mid-America Apartment Communities Stock Up 2.6 %

Shares of Mid-America Apartment Communities stock opened at $161.24 on Wednesday. The business has a 50-day moving average price of $158.85 and a 200 day moving average price of $162.88. Mid-America Apartment Communities, Inc. has a fifty-two week low of $141.13 and a fifty-two week high of $217.64. The firm has a market cap of $18.62 billion, a P/E ratio of 29.75, a P/E/G ratio of 8.59 and a beta of 0.75. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.73.

Mid-America Apartment Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, January 13th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.47%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Thursday, January 12th. Mid-America Apartment Communities’s payout ratio is 103.32%.

About Mid-America Apartment Communities

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Mid-America Apartment Communities, Inc is a real estate investment trust. The firm engages in the operation, acquisition and development of apartment communities. It operates through the following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.