Mackenzie Financial Corp Reduces Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Mackenzie Financial Corp lessened its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 24.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 13,454 shares of the real estate investment trust's stock after selling 4,416 shares during the quarter. Mackenzie Financial Corp's holdings in Mid-America Apartment Communities were worth $2,080,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MAA. Norges Bank acquired a new stake in Mid-America Apartment Communities during the 4th quarter valued at approximately $826,562,000. Capital World Investors increased its position in Mid-America Apartment Communities by 45.9% during the 4th quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock valued at $1,025,868,000 after purchasing an additional 2,088,143 shares during the period. Deutsche Bank AG increased its position in Mid-America Apartment Communities by 312.6% during the 4th quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust's stock valued at $189,507,000 after purchasing an additional 928,851 shares during the period. JPMorgan Chase & Co. increased its position in Mid-America Apartment Communities by 26.9% during the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust's stock valued at $517,015,000 after purchasing an additional 708,125 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Mid-America Apartment Communities during the 4th quarter worth approximately $95,671,000. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Trading Down 0.3%

NYSE:MAA traded down $0.39 during midday trading on Wednesday, reaching $152.03. 148,720 shares of the stock traded hands, compared to its average volume of 750,448. The company has a fifty day moving average of $158.72 and a 200 day moving average of $158.08. Mid-America Apartment Communities, Inc. has a 12 month low of $133.99 and a 12 month high of $173.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market capitalization of $17.80 billion, a P/E ratio of 33.96, a PEG ratio of 3.72 and a beta of 0.80.

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

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors 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 dividend yield of 3.99%. Mid-America Apartment Communities's payout ratio is 126.25%.

Wall Street Analyst Weigh In

MAA has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Wall Street Zen raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research note on Friday, May 30th. Truist Financial reduced their target price on Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a research note on Wednesday, May 21st. Raymond James lowered Mid-America Apartment Communities from a "strong-buy" rating to an "outperform" rating and decreased their target price for the company from $185.00 to $175.00 in a research report on Thursday, May 15th. Finally, Royal Bank of Canada raised their price objective on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a "sector perform" rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $169.50.

Insider Activity at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,643 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $149.93, for a total transaction of $396,264.99. Following the sale, the chief executive officer now directly owns 319,813 shares of the company's stock, valued at approximately $47,949,563.09. This represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Amber Fairbanks sold 173 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the sale, the executive vice president now directly owns 3,012 shares in the company, valued at approximately $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 ninety days, insiders have sold 7,313 shares of company stock valued at $1,171,707. 1.20% of the stock is owned by insiders.

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.