Bank of Montreal Can Has $23.64 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Bank of Montreal Can decreased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 149,853 shares of the real estate investment trust’s stock after selling 6,521 shares during the quarter. Bank of Montreal Can owned approximately 0.13% of Mid-America Apartment Communities worth $23,642,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Mid-America Apartment Communities by 0.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 155,906 shares of the real estate investment trust’s stock valued at $20,515,000 after acquiring an additional 492 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of Mid-America Apartment Communities by 5.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 90 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Mid-America Apartment Communities by 33.0% during the 1st quarter. Cetera Investment Advisers now owns 51,421 shares of the real estate investment trust’s stock worth $6,766,000 after buying an additional 12,773 shares during the period. Cetera Advisors LLC raised its stake in shares of Mid-America Apartment Communities by 525.5% during the first quarter. Cetera Advisors LLC now owns 21,460 shares of the real estate investment trust’s stock worth $2,824,000 after buying an additional 18,029 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its holdings in Mid-America Apartment Communities by 4.7% in the second quarter. Kathmere Capital Management LLC now owns 2,405 shares of the real estate investment trust’s stock valued at $323,000 after buying an additional 108 shares during the period. 93.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $138.00 to $174.00 in a research report on Monday, August 26th. Royal Bank of Canada cut their target price on 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. StockNews.com lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. JMP Securities increased their price target on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. Finally, BNP Paribas assumed coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $162.68.

Mid-America Apartment Communities Stock Down 0.7 %

MAA stock opened at $164.09 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market capitalization of $19.18 billion, a P/E ratio of 37.29, a P/E/G ratio of 2.66 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a fifty-two week low of $121.51 and a fifty-two week high of $167.39. The business has a 50-day moving average of $156.69 and a 200-day moving average of $149.73.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share 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 firm had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. During the same period last year, the company earned $2.29 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm 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 annualized dividend and a yield of 3.58%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 132.73%.

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.