Bank of Montreal Can Has $23.64 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Bank of Montreal Can lessened its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,853 shares of the real estate investment trust’s stock after selling 6,521 shares during the quarter. Bank of Montreal Can’s holdings in Mid-America Apartment Communities were worth $23,642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Mid-America Apartment Communities in the third quarter valued at $25,000. EdgeRock Capital LLC bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at about $26,000. Versant Capital Management Inc lifted its stake in Mid-America Apartment Communities by 3,071.4% in the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 215 shares during the last quarter. Activest Wealth Management bought a new position in Mid-America Apartment Communities during the third quarter worth about $32,000. Finally, UMB Bank n.a. increased its position in Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 108 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MAA has been the subject of a number of recent analyst reports. Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective for the company in a research report on Monday, October 21st. Royal Bank of Canada reduced their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday, November 1st. Scotiabank dropped their price objective on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $144.00 to $189.00 in a report on Monday, August 12th. Finally, Truist Financial increased their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $162.68.

Mid-America Apartment Communities Stock Performance

MAA opened at $164.09 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The firm has a market cap of $19.18 billion, a P/E ratio of 37.29, a price-to-earnings-growth ratio of 2.66 and a beta of 0.88. The business’s fifty day moving average is $156.69 and its 200-day moving average is $149.73.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The firm had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.29 earnings per share. Sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.58%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.