Zurcher Kantonalbank Zurich Cantonalbank Acquires 7,712 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Key Points

• Zurcher Kantonalbank increased its stake in Mid-America Apartment Communities, acquiring an additional 7,712 shares, resulting in a total of 155,194 shares valued at approximately $26 million.
• Mid-America Apartment Communities reported a quarterly earnings per share of $2.20, surpassing analysts' expectations by $0.04, despite a slight decline in revenue year-over-year.
• The company declared a quarterly dividend of $1.515, which offers an annualized yield of 3.98%, although its payout ratio stands at 126.25%.

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 5.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 155,194 shares of the real estate investment trust's stock after buying an additional 7,712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.13% of Mid-America Apartment Communities worth $26,007,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. TD Asset Management Inc increased its holdings in Mid-America Apartment Communities by 26.1% in the first quarter. TD Asset Management Inc now owns 51,681 shares of the real estate investment trust's stock valued at $8,661,000 after purchasing an additional 10,686 shares during the period. HB Wealth Management LLC boosted its position in Mid-America Apartment Communities by 4.4% during the first quarter. HB Wealth Management LLC now owns 12,867 shares of the real estate investment trust's stock valued at $2,156,000 after acquiring an additional 539 shares during the last quarter. Knights of Columbus Asset Advisors LLC bought a new stake in Mid-America Apartment Communities during the first quarter valued at $3,694,000. Cetera Investment Advisers boosted its position in Mid-America Apartment Communities by 12.4% during the first quarter. Cetera Investment Advisers now owns 60,150 shares of the real estate investment trust's stock valued at $10,080,000 after acquiring an additional 6,615 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in Mid-America Apartment Communities by 3.5% during the first quarter. Avantax Advisory Services Inc. now owns 2,353 shares of the real estate investment trust's stock valued at $394,000 after acquiring an additional 80 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock traded down $1.80 during mid-day trading on Friday, reaching $140.63. The company's stock had a trading volume of 559,857 shares, compared to its average volume of 901,324. Mid-America Apartment Communities, Inc. has a 12-month low of $138.67 and a 12-month high of $173.38. The company has a market capitalization of $16.46 billion, a P/E ratio of 28.93, a PEG ratio of 3.81 and a beta of 0.75. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.11 and a current ratio of 0.11. The firm's fifty day moving average price is $150.56 and its two-hundred day moving average price is $156.18.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, beating analysts' consensus estimates of $2.14 by $0.01. The firm had revenue of $549.90 million during the quarter, compared to analyst estimates of $552.19 million. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.33%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $2.22 EPS. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th were issued a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Tuesday, July 15th. Mid-America Apartment Communities's payout ratio is currently 126.25%.

Analyst Ratings Changes

MAA has been the topic of a number of research analyst reports. JMP Securities increased their price objective on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 22nd. Robert W. Baird raised their price target 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. 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. Raymond James Financial cut shares of Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada dropped their target price 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 report on Friday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of "Hold" and an average target price of $168.52.

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.