Mackenzie Financial Corp Lowers Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Mackenzie Financial Corp reduced its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,162 shares of the real estate investment trust’s stock after selling 271 shares during the period. Mackenzie Financial Corp’s holdings in Mid-America Apartment Communities were worth $2,308,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in shares of Mid-America Apartment Communities by 9.2% in the fourth quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock worth $21,020,000 after acquiring an additional 13,045 shares in the last quarter. Columbus Macro LLC acquired a new position in Mid-America Apartment Communities during the 4th quarter worth $1,280,000. Sunesis Advisors LLC grew its stake in Mid-America Apartment Communities by 393.1% during the 4th quarter. Sunesis Advisors LLC now owns 22,842 shares of the real estate investment trust’s stock worth $3,071,000 after purchasing an additional 18,210 shares in the last quarter. Covestor Ltd increased its holdings in Mid-America Apartment Communities by 71.9% during the 3rd quarter. Covestor Ltd now owns 667 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 279 shares during the period. Finally, Arizona State Retirement System raised its position in Mid-America Apartment Communities by 0.8% in the 4th quarter. Arizona State Retirement System now owns 32,068 shares of the real estate investment trust’s stock valued at $4,312,000 after purchasing an additional 241 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Up 1.1 %

Shares of NYSE MAA opened at $127.47 on Tuesday. The business has a 50-day moving average price of $128.96 and a 200 day moving average price of $128.65. The stock has a market cap of $14.88 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 2.83 and a beta of 0.80. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.93). The firm had revenue of $542.25 million during the quarter, compared to analyst estimates of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. Mid-America Apartment Communities’s revenue was up 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.32 earnings per share. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.92 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 4.61%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

Wall Street Analyst Weigh In

MAA has been the topic of a number of recent research reports. Piper Sandler restated a “neutral” rating and set a $140.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Morgan Stanley increased their price objective on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Mizuho decreased their price objective on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and boosted their target price for the stock from $133.00 to $147.00 in a research note on Tuesday, January 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus target price of $143.18.

Insider Buying and Selling at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the sale, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is owned by company insiders.

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.