Healthcare of Ontario Pension Plan Trust Fund Boosts Stock Holdings in Mid-America Apartment Communities, Inc. $MAA

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its Mid-America Apartment Communities stake by 1,452.3% in the first quarter, acquiring 67,212 additional shares and bringing its total to 71,840 shares valued at approximately $8.8 million. Institutional investors collectively own 93.6% of MAA.
• MAA reported quarterly earnings of $2.13 per share, exceeding the $0.83 consensus estimate, while revenue rose 0.8% year over year to $553.7 million. Shares opened at $135.61, and analysts’ consensus rating remains “Hold” with a $145.25 price target.
• The REIT declared a quarterly dividend of $1.53 per share, equivalent to $6.12 annually and a 4.5% yield. Director Tamara D. Fischer also purchased 1,100 shares worth $141,405 in May.

Healthcare of Ontario Pension Plan Trust Fund raised its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 1,452.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 71,840 shares of the real estate investment trust's stock after acquiring an additional 67,212 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.06% of Mid-America Apartment Communities worth $8,773,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Physician Wealth Advisors Inc. grew its position in shares of Mid-America Apartment Communities by 65.2% during the fourth quarter. Physician Wealth Advisors Inc. now owns 190 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Nalls Sherbakoff Group LLC purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth about $32,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Mid-America Apartment Communities in the third quarter worth about $33,000. Root Financial Partners LLC boosted its stake in Mid-America Apartment Communities by 3,100.0% during the first quarter. Root Financial Partners LLC now owns 288 shares of the real estate investment trust's stock valued at $35,000 after buying an additional 279 shares during the last quarter. Finally, Hurley Capital LLC boosted its stake in Mid-America Apartment Communities by 70.4% during the fourth quarter. Hurley Capital LLC now owns 271 shares of the real estate investment trust's stock valued at $38,000 after buying an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Up 1.6%

Shares of NYSE:MAA opened at $135.61 on Wednesday. The company has a market cap of $15.78 billion, a price-to-earnings ratio of 41.09 and a beta of 0.74. Mid-America Apartment Communities, Inc. has a 12 month low of $120.30 and a 12 month high of $152.35. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.99. The company has a 50-day moving average price of $135.01 and a 200 day moving average price of $131.79.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $2.13 earnings per share for the quarter, topping the consensus estimate of $0.83 by $1.30. Mid-America Apartment Communities had a return on equity of 6.61% and a net margin of 17.60%.The company had revenue of $553.73 million for the quarter, compared to analysts' expectations of $555.75 million. During the same period in the previous year, the firm posted $2.20 earnings per share. The firm's revenue for the quarter was up .8% on a year-over-year basis. As a group, equities research analysts predict that Mid-America Apartment Communities, Inc. will post 8.51 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a $1.53 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $6.12 dividend on an annualized basis and a dividend yield of 4.5%. Mid-America Apartment Communities's payout ratio is 185.45%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MAA shares. Barclays raised their price target on Mid-America Apartment Communities from $139.00 to $147.00 and gave the company an "equal weight" rating in a report on Tuesday, July 14th. Cantor Fitzgerald decreased their price objective on Mid-America Apartment Communities from $141.00 to $132.00 and set a "neutral" rating on the stock in a report on Monday, May 4th. UBS Group lowered their target price on Mid-America Apartment Communities from $134.00 to $132.00 and set a "neutral" rating for the company in a research report on Thursday, May 14th. JPMorgan Chase & Co. started coverage on shares of Mid-America Apartment Communities in a report on Thursday, July 16th. They issued a "neutral" rating and a $147.00 target price for the company. Finally, Weiss Ratings upgraded shares of Mid-America Apartment Communities from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 20th. Eight investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $145.25.

Insider Buying and Selling at Mid-America Apartment Communities

In related news, Director Tamara D. Fischer bought 1,100 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were purchased at an average price of $128.55 per share, with a total value of $141,405.00. Following the transaction, the director owned 1,100 shares in the company, valued at $141,405. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.60% of the company's stock.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc NYSE: MAA is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA's portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.

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