Mid-America Apartment Communities, Inc. (NYSE:MAA) Stock Position Raised by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA lifted its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,178 shares of the real estate investment trust’s stock after acquiring an additional 86 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Mid-America Apartment Communities were worth $664,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MAA. Duquesne Family Office LLC purchased a new stake in Mid-America Apartment Communities in the 2nd quarter worth approximately $91,868,000. Long Pond Capital LP lifted its position in Mid-America Apartment Communities by 550.9% in the 2nd quarter. Long Pond Capital LP now owns 647,011 shares of the real estate investment trust’s stock worth $92,270,000 after buying an additional 547,607 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Mid-America Apartment Communities by 17.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after buying an additional 393,067 shares in the last quarter. Ceredex Value Advisors LLC lifted its position in Mid-America Apartment Communities by 107.1% in the 2nd quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock worth $94,424,000 after buying an additional 342,335 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Mid-America Apartment Communities by 176.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 339,081 shares of the real estate investment trust’s stock worth $48,356,000 after buying an additional 216,610 shares in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

NYSE MAA traded up $2.06 during midday trading on Wednesday, hitting $165.22. The company had a trading volume of 44,637 shares, compared to its average volume of 744,170. 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 stock has a market cap of $19.31 billion, a price-to-earnings ratio of 36.83, a P/E/G ratio of 2.61 and a beta of 0.88. The firm has a fifty day simple moving average of $156.65 and a two-hundred day simple moving average of $149.52. Mid-America Apartment Communities, Inc. has a fifty-two week low of $121.51 and a fifty-two week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last posted 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 return on equity of 8.38% and a net margin of 23.84%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 earnings per share. Equities analysts forecast 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 firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 3.56%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 132.73%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MAA. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price for the company. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a report on Monday, October 21st. Scotiabank cut their price target on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. Truist Financial raised 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. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $161.64.

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.