CANADA LIFE ASSURANCE Co Increases Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

CANADA LIFE ASSURANCE Co boosted its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,823 shares of the real estate investment trust’s stock after purchasing an additional 2,296 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.18% of Mid-America Apartment Communities worth $27,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of Mid-America Apartment Communities in the 4th quarter worth $713,500,000. Massachusetts Financial Services Co. MA lifted its position in Mid-America Apartment Communities by 188.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock valued at $195,179,000 after acquiring an additional 949,171 shares during the period. Balyasny Asset Management L.P. raised its holdings in Mid-America Apartment Communities by 96.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock worth $164,085,000 after buying an additional 600,547 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in Mid-America Apartment Communities by 103.1% in the fourth quarter. 1832 Asset Management L.P. now owns 1,030,038 shares of the real estate investment trust’s stock worth $138,499,000 after buying an additional 522,851 shares during the last quarter. Finally, Anchor Capital Advisors LLC grew its stake in shares of Mid-America Apartment Communities by 10,178.6% in the fourth quarter. Anchor Capital Advisors LLC now owns 349,575 shares of the real estate investment trust’s stock worth $47,004,000 after acquiring an additional 346,174 shares during the period. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on MAA shares. Truist Financial boosted their target price on shares of Mid-America Apartment Communities from $148.00 to $156.00 and gave the company a “buy” rating in a research report on Monday, June 24th. UBS Group boosted their target price on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a report on Thursday, July 18th. Wells Fargo & Company upped their price target on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Scotiabank upped their price target on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Finally, Mizuho upped their price target on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $141.59.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $140.11 on Friday. Mid-America Apartment Communities, Inc. has a twelve month low of $115.56 and a twelve month high of $153.97. The company’s 50 day moving average is $138.74 and its 200 day moving average is $133.17. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74. The company has a market cap of $16.37 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 3.19 and a beta of 0.85.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The firm had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. Mid-America Apartment Communities’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.28 EPS. On average, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $5.88 dividend on an annualized basis and a yield of 4.20%. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

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.