Harvest Portfolios Group Inc. Acquires 6,198 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Harvest Portfolios Group Inc. boosted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 123.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,218 shares of the real estate investment trust’s stock after acquiring an additional 6,198 shares during the period. Harvest Portfolios Group Inc.’s holdings in Mid-America Apartment Communities were worth $1,783,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MAA. EdgeRock Capital LLC bought a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at about $26,000. Versant Capital Management Inc grew its holdings in shares of Mid-America Apartment Communities by 3,071.4% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 215 shares during the period. UMB Bank n.a. raised its position in shares of Mid-America Apartment Communities by 82.4% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 108 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at approximately $37,000. Finally, Capital Advisors Ltd. LLC boosted its position in shares of Mid-America Apartment Communities by 305.1% during the second quarter. Capital Advisors Ltd. LLC now owns 316 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 238 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Down 0.9 %

Shares of Mid-America Apartment Communities stock opened at $153.59 on Thursday. Mid-America Apartment Communities, Inc. has a twelve month low of $118.68 and a twelve month 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 company’s 50 day moving average is $157.72 and its 200 day moving average is $146.68. The company has a market cap of $17.95 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The firm had revenue of $551.13 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business earned $2.29 earnings per share. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared 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. This represents a $5.88 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is currently 132.73%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wedbush increased their price objective on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Piper Sandler lifted their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada cut their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. BNP Paribas assumed coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 target price for the company. Finally, Wells Fargo & Company upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $161.69.

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.