Mackenzie Financial Corp Has $4.03 Million Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Key Points

• Mackenzie Financial Corp increased its holdings in Mid-America Apartment Communities by 78.6%, purchasing 10,576 additional shares, bringing its total to 24,030 shares valued at approximately $4 million.
• Various institutional investors have modified their holdings, with 93.60% of the stock now owned by such investors, indicating strong institutional interest.
• Analysts have mixed ratings on the stock, with two sell ratings, eleven hold ratings, and nine buy ratings, and a current consensus target price of $168.52.

Mackenzie Financial Corp boosted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 78.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,030 shares of the real estate investment trust's stock after purchasing an additional 10,576 shares during the period. Mackenzie Financial Corp's holdings in Mid-America Apartment Communities were worth $4,027,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MAA. Larson Financial Group LLC boosted its holdings in Mid-America Apartment Communities by 107.1% in the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 91 shares during the last quarter. CoreCap Advisors LLC boosted its holdings 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 during the last quarter. GoalVest Advisory LLC boosted its holdings in Mid-America Apartment Communities by 200.0% in 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. purchased a new position in Mid-America Apartment Communities in the first quarter valued at about $46,000. Finally, Headlands Technologies LLC purchased a new position in Mid-America Apartment Communities in the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 93.60% of the company's stock.

Analyst Upgrades and Downgrades

MAA has been the topic of several research analyst reports. The Goldman Sachs Group cut shares of Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 price target on the stock. in a research report on Friday, July 11th. Barclays increased their price objective on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. Royal Bank Of Canada dropped their price objective on shares of Mid-America Apartment Communities from $158.00 to $155.00 and set a "sector perform" rating on the stock in a research note on Friday. Mizuho dropped their price objective on shares of Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Robert W. Baird increased their price objective on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a "neutral" rating in a research note on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of "Hold" and a consensus target price of $167.76.

Mid-America Apartment Communities Price Performance

Shares of Mid-America Apartment Communities stock traded up $0.05 during trading on Monday, hitting $140.05. 1,154,395 shares of the company's stock traded hands, compared to its average volume of 941,947. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.10 and a quick ratio of 0.10. The firm's fifty day moving average price is $150.30 and its 200 day moving average price is $156.18. Mid-America Apartment Communities, Inc. has a twelve month low of $138.67 and a twelve month high of $173.38. The company has a market cap of $16.39 billion, a PE ratio of 28.82, a PEG ratio of 3.59 and a beta of 0.75.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced 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. The business had revenue of $549.90 million for the quarter, compared to the consensus estimate of $552.19 million. Mid-America Apartment Communities had a return on equity of 9.35% and a net margin of 25.98%. Mid-America Apartment Communities's revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.22 EPS. Analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

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

Mid-America Apartment Communities 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.