Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 44.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 120,090 shares of the real estate investment trust’s stock after buying an additional 36,786 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mid-America Apartment Communities were worth $19,082,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in MAA. Ashton Thomas Securities LLC purchased a new position in Mid-America Apartment Communities in the third quarter valued at about $25,000. EdgeRock Capital LLC purchased a new position in Mid-America Apartment Communities in the second quarter valued at approximately $26,000. Versant Capital Management Inc grew its holdings 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 valued at $32,000 after purchasing an additional 215 shares during the period. Activest Wealth Management purchased a new stake in Mid-America Apartment Communities in the third quarter worth $32,000. Finally, UMB Bank n.a. raised its stake in shares of Mid-America Apartment Communities by 82.4% in the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 108 shares during the period. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Down 0.7 %

MAA stock opened at $164.09 on Friday. The company’s 50 day moving average is $156.69 and its 200 day moving average is $149.73. The stock has a market cap of $19.18 billion, a price-to-earnings ratio of 37.04, a price-to-earnings-growth ratio of 2.66 and a beta of 0.88. 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 1-year low of $121.51 and a 1-year high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The company had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.29 EPS. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MAA shares. Truist Financial lifted their price objective on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Royal Bank of Canada dropped their price target on shares of 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. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and an average target price of $162.68.

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.