Mid-America Apartment Communities Inc (MAA) Holdings Increased by Toronto Dominion Bank

Toronto Dominion Bank raised its position in Mid-America Apartment Communities Inc (NYSE:MAA) by 47.6% in the first quarter, Holdings Channel reports. The fund owned 107,483 shares of the real estate investment trust’s stock after purchasing an additional 34,646 shares during the quarter. Toronto Dominion Bank’s holdings in Mid-America Apartment Communities were worth $11,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in MAA. Legal & General Group Plc grew its position in Mid-America Apartment Communities by 0.4% in the third quarter. Legal & General Group Plc now owns 838,607 shares of the real estate investment trust’s stock worth $84,012,000 after buying an additional 3,670 shares during the last quarter. Morgan Stanley grew its position in Mid-America Apartment Communities by 8.8% in the third quarter. Morgan Stanley now owns 1,591,653 shares of the real estate investment trust’s stock worth $159,452,000 after buying an additional 129,006 shares during the last quarter. Gateway Investment Advisers LLC grew its position in Mid-America Apartment Communities by 4.5% in the fourth quarter. Gateway Investment Advisers LLC now owns 6,305 shares of the real estate investment trust’s stock worth $603,000 after buying an additional 273 shares during the last quarter. Fox Run Management L.L.C. grew its position in Mid-America Apartment Communities by 10.8% in the fourth quarter. Fox Run Management L.L.C. now owns 2,484 shares of the real estate investment trust’s stock worth $238,000 after buying an additional 242 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in Mid-America Apartment Communities by 1.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 84,380 shares of the real estate investment trust’s stock worth $8,075,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 93.32% of the company’s stock.

MAA has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. KeyCorp lifted their price target on shares of Mid-America Apartment Communities from $108.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. BMO Capital Markets restated a “hold” rating and issued a $102.00 price target on shares of Mid-America Apartment Communities in a research report on Wednesday, January 30th. Mizuho upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Wednesday, May 8th. Finally, TheStreet upgraded shares of Mid-America Apartment Communities from a “c+” rating to a “b-” rating in a research report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $108.59.

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 338 shares of Mid-America Apartment Communities stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $107.04, for a total transaction of $36,179.52. Following the completion of the sale, the chief executive officer now owns 222,316 shares of the company’s stock, valued at approximately $23,796,704.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider H Eric Bolton, Jr. sold 258 shares of Mid-America Apartment Communities stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $108.58, for a total transaction of $28,013.64. Following the sale, the insider now directly owns 220,303 shares of the company’s stock, valued at approximately $23,920,499.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,679 shares of company stock worth $1,057,456. Corporate insiders own 1.30% of the company’s stock.

NYSE MAA opened at $115.05 on Friday. Mid-America Apartment Communities Inc has a twelve month low of $87.47 and a twelve month high of $115.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market cap of $13.12 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 4.75 and a beta of 0.48.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.95). Mid-America Apartment Communities had a return on equity of 3.68% and a net margin of 14.86%. The firm had revenue of $401.17 million for the quarter, compared to analysts’ expectations of $400.91 million. During the same quarter in the previous year, the firm posted $1.36 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, equities analysts expect that Mid-America Apartment Communities Inc will post 6.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend was Friday, April 12th. Mid-America Apartment Communities’s payout ratio is 63.58%.

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Mid-America Apartment Communities Profile

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

Further Reading: What is a Derivative?

Want to see what other hedge funds are holding MAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid-America Apartment Communities Inc (NYSE:MAA).

Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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