Toronto Dominion Bank Boosts Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Toronto Dominion Bank lifted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,702 shares of the real estate investment trust’s stock after purchasing an additional 794 shares during the period. Toronto Dominion Bank’s holdings in Mid-America Apartment Communities were worth $9,169,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Mid-America Apartment Communities in the 3rd quarter valued at approximately $25,000. EdgeRock Capital LLC purchased a new position in Mid-America Apartment Communities in the second quarter valued at $26,000. Activest Wealth Management purchased a new position in Mid-America Apartment Communities in the third quarter valued at $32,000. UMB Bank n.a. increased its holdings 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 worth $34,000 after purchasing an additional 108 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $37,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MAA shares. Royal Bank of Canada lowered their price objective on 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. The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price target for the company. Scotiabank dropped their price objective on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Finally, Piper Sandler increased their target price on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $162.68.

Mid-America Apartment Communities Trading Down 0.7 %

NYSE:MAA opened at $157.22 on Friday. The company has a market capitalization of $18.38 billion, a PE ratio of 35.49, a P/E/G ratio of 2.55 and a beta of 0.90. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The stock’s 50 day moving average price is $156.83 and its 200 day moving average price is $151.57. 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 (NYSE:MAA) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. During the same quarter last year, the business posted $2.29 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. On average, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be issued a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.85%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. The ex-dividend date is Wednesday, January 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Mid-America Apartment Communities Company 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.