Caisse DE Depot ET Placement DU Quebec Makes New $6.52 Million Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Caisse DE Depot ET Placement DU Quebec purchased a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 41,000 shares of the real estate investment trust’s stock, valued at approximately $6,515,000.

A number of other hedge funds have also modified their holdings of the business. Ashton Thomas Securities LLC purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at approximately $25,000. EdgeRock Capital LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter valued at $26,000. Versant Capital Management Inc boosted its stake in shares of Mid-America Apartment Communities by 3,071.4% during the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 215 shares during the last quarter. Activest Wealth Management purchased a new stake in Mid-America Apartment Communities during the 3rd quarter worth about $32,000. Finally, UMB Bank n.a. increased its position in Mid-America Apartment Communities by 82.4% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 108 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Truist Financial lifted their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Royal Bank of Canada reduced their price target on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. 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. Finally, BNP Paribas began coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities has an average rating of “Hold” and a consensus price target of $162.68.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $162.40 on Tuesday. The firm has a fifty day moving average of $156.72 and a 200-day moving average of $150.11. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $18.98 billion, a P/E ratio of 37.06, a PEG ratio of 2.64 and a beta of 0.88.

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

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Mid-America Apartment Communities Profile

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.