Toronto Dominion Bank Increases Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Toronto Dominion Bank increased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 32.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,404 shares of the real estate investment trust's stock after buying an additional 18,702 shares during the period. Toronto Dominion Bank owned about 0.07% of Mid-America Apartment Communities worth $11,810,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Park Avenue Securities LLC increased its position in shares of Mid-America Apartment Communities by 36.4% in the 4th quarter. Park Avenue Securities LLC now owns 2,876 shares of the real estate investment trust's stock valued at $445,000 after purchasing an additional 768 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Mid-America Apartment Communities during the fourth quarter worth $577,000. UMB Bank n.a. increased its holdings in Mid-America Apartment Communities by 30.5% in the fourth quarter. UMB Bank n.a. now owns 321 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 75 shares during the last quarter. Aurora Investment Managers LLC. increased its holdings in Mid-America Apartment Communities by 5.5% in the fourth quarter. Aurora Investment Managers LLC. now owns 26,010 shares of the real estate investment trust's stock valued at $4,020,000 after buying an additional 1,366 shares during the last quarter. Finally, Perpetual Ltd raised its stake in Mid-America Apartment Communities by 8.0% in the fourth quarter. Perpetual Ltd now owns 127,506 shares of the real estate investment trust's stock valued at $19,709,000 after buying an additional 9,471 shares in the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Evercore ISI upped their price objective on Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Robert W. Baird boosted their target price on 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. Mizuho dropped their price target 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. Truist Financial reduced their price objective on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. Finally, Raymond James downgraded shares of Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and dropped their target price for the company from $185.00 to $175.00 in a research report on Thursday, May 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $169.50.

Mid-America Apartment Communities Stock Performance

Shares of MAA traded down $1.68 during mid-day trading on Monday, hitting $152.73. 659,322 shares of the company's stock were exchanged, compared to its average volume of 747,480. The firm has a market capitalization of $17.88 billion, a P/E ratio of 34.09, a P/E/G ratio of 3.72 and a beta of 0.80. Mid-America Apartment Communities, Inc. has a fifty-two week low of $126.77 and a fifty-two week high of $173.38. The business's 50 day moving average is $159.91 and its two-hundred day moving average is $158.30. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. The company had revenue of $549.30 million during the quarter, compared to analysts' expectations of $551.21 million. During the same period last year, the firm earned $2.22 EPS. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be paid a $1.515 dividend. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 3.97%. Mid-America Apartment Communities's dividend payout ratio is currently 126.25%.

Insiders Place Their Bets

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,643 shares of Mid-America Apartment Communities stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $149.93, for a total value of $396,264.99. Following the sale, the chief executive officer now owns 319,813 shares of the company's stock, valued at approximately $47,949,563.09. The trade was a 0.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Amber Fairbanks sold 173 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the transaction, the executive vice president now owns 3,012 shares in the company, valued at $502,552.20. The trade was a 5.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,313 shares of company stock worth $1,171,707. 1.20% of the stock is owned by insiders.

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.