Bank of Nova Scotia Sells 3,369 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Bank of Nova Scotia trimmed its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,767 shares of the real estate investment trust's stock after selling 3,369 shares during the quarter. Bank of Nova Scotia's holdings in Mid-America Apartment Communities were worth $2,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in shares of Mid-America Apartment Communities by 107.1% during the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 91 shares during the last quarter. CoreCap Advisors LLC raised its stake in Mid-America Apartment Communities by 94.9% in the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 112 shares in the last quarter. GoalVest Advisory LLC lifted its position in Mid-America Apartment Communities by 200.0% during the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 160 shares during the last quarter. NBC Securities Inc. bought a new stake in Mid-America Apartment Communities during the first quarter valued at approximately $46,000. Finally, Wayfinding Financial LLC purchased a new position in Mid-America Apartment Communities in the 1st quarter worth approximately $60,000. 93.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MAA has been the topic of several research reports. Piper Sandler lowered their price objective on shares of Mid-America Apartment Communities from $170.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday. Evercore ISI reduced their target price on Mid-America Apartment Communities from $163.00 to $155.00 and set an "in-line" rating on the stock in a research note on Monday. Wall Street Zen downgraded Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Truist Financial cut their price objective on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Finally, Mizuho reduced their price objective on Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $166.95.

Mid-America Apartment Communities Trading Up 1.1%

Shares of Mid-America Apartment Communities stock traded up $1.48 during trading on Thursday, reaching $142.09. 587,325 shares of the stock were exchanged, compared to its average volume of 927,394. The stock's fifty day moving average is $149.25 and its 200 day moving average is $155.85. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 29.24, a price-to-earnings-growth ratio of 3.76 and a beta of 0.75. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.83. Mid-America Apartment Communities, Inc. has a 1 year low of $138.67 and a 1 year high of $173.38.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, topping the consensus estimate of $2.14 by $0.01. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The firm had revenue of $549.90 million during the quarter, compared to analysts' expectations of $552.19 million. During the same period last year, the company posted $2.22 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th were given a dividend of $1.515 per share. The ex-dividend date of this dividend was Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.3%. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 124.69%.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.