Harvest Fund Management Co. Ltd Purchases 3,354 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Harvest Fund Management Co. Ltd boosted its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 458.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,085 shares of the real estate investment trust’s stock after acquiring an additional 3,354 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Mid-America Apartment Communities were worth $649,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Mid-America Apartment Communities in the third quarter valued at approximately $25,000. EdgeRock Capital LLC bought a new stake in shares of Mid-America Apartment Communities during the second quarter worth $26,000. Activest Wealth Management bought a new stake in shares of Mid-America Apartment Communities during the third quarter worth $32,000. Versant Capital Management Inc grew 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 worth $32,000 after buying an additional 215 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Mid-America Apartment Communities during the third quarter worth $37,000. 93.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on MAA. Truist Financial boosted 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. StockNews.com cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. Piper Sandler boosted their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Finally, Raymond James raised shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and a consensus target price of $161.64.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $162.00 on Tuesday. The firm’s 50-day moving average price is $156.76 and its 200-day moving average price is $149.14. Mid-America Apartment Communities, Inc. has a 1-year low of $121.51 and a 1-year high of $167.39. The firm has a market capitalization of $18.93 billion, a P/E ratio of 36.57, a P/E/G ratio of 2.59 and a beta of 0.88. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.80.

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 for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company had revenue of $551.13 million for the quarter, compared to analyst estimates of $548.53 million. During the same quarter in the prior year, the company posted $2.29 EPS. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.63%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

Mid-America Apartment Communities Company 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.