Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Bank of Nova Scotia

Posted by Defense World Staff on May 22nd, 2023

Bank of Nova Scotia decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,104 shares of the real estate investment trust’s stock after selling 205 shares during the quarter. Bank of Nova Scotia’s holdings in Mid-America Apartment Communities were worth $1,586,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. lifted its holdings in shares of Mid-America Apartment Communities by 228.2% in the 1st quarter. American Century Companies Inc. now owns 3,984 shares of the real estate investment trust’s stock worth $834,000 after purchasing an additional 2,770 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Mid-America Apartment Communities by 62.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,148 shares of the real estate investment trust’s stock worth $1,078,000 after purchasing an additional 1,974 shares during the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of Mid-America Apartment Communities by 22.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,794 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 325 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter worth approximately $393,000. Finally, Sei Investments Co. lifted its holdings in shares of Mid-America Apartment Communities by 7.5% in the 1st quarter. Sei Investments Co. now owns 50,699 shares of the real estate investment trust’s stock worth $10,619,000 after purchasing an additional 3,544 shares during the last quarter. Institutional investors and hedge funds own 91.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Scotiabank downgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and set a $150.00 price target on the stock. in a report on Wednesday, April 12th. Wells Fargo & Company assumed coverage on Mid-America Apartment Communities in a research note on Wednesday, March 29th. They set an “equal weight” rating and a $156.50 target price on the stock. Piper Sandler cut their target price on Mid-America Apartment Communities from $195.00 to $182.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 5th. StockNews.com assumed coverage on Mid-America Apartment Communities in a research note on Thursday. They set a “hold” rating on the stock. Finally, Barclays lifted their target price on Mid-America Apartment Communities from $185.00 to $192.00 and gave the company an “overweight” rating in a research note on Wednesday, March 1st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $169.30.

Insider Activity at Mid-America Apartment Communities

In related news, EVP Melanie Carpenter sold 480 shares of Mid-America Apartment Communities stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $150.21, for a total transaction of $72,100.80. Following the completion of the sale, the executive vice president now owns 16,669 shares of the company’s stock, valued at $2,503,850.49. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.33% of the company’s stock.

Mid-America Apartment Communities Price Performance

MAA opened at $148.18 on Monday. The stock has a market cap of $17.29 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 8.09 and a beta of 0.77. Mid-America Apartment Communities, Inc. has a 1 year low of $138.68 and a 1 year high of $190.17. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average price of $149.06 and a 200 day moving average price of $156.57.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $5.60 dividend on an annualized basis and a yield of 3.78%. Mid-America Apartment Communities’s payout ratio is 98.25%.

Mid-America Apartment Communities Company Profile

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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 following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.