Covestor Ltd Purchases 93 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Covestor Ltd boosted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 848 shares of the real estate investment trust’s stock after buying an additional 93 shares during the quarter. Covestor Ltd’s holdings in Mid-America Apartment Communities were worth $112,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised its position in Mid-America Apartment Communities by 323.8% in the 4th quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock worth $5,430,000 after buying an additional 30,855 shares during the last quarter. Perpetual Ltd purchased a new position in Mid-America Apartment Communities in the 1st quarter worth about $15,413,000. Miller Howard Investments Inc. NY raised its position in Mid-America Apartment Communities by 9.9% in the 1st quarter. Miller Howard Investments Inc. NY now owns 197,478 shares of the real estate investment trust’s stock worth $25,984,000 after buying an additional 17,765 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Mid-America Apartment Communities by 163.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock worth $2,923,000 after buying an additional 13,474 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Mid-America Apartment Communities by 159.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 26,261 shares of the real estate investment trust’s stock worth $3,531,000 after buying an additional 16,144 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MAA. UBS Group boosted their target price on Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a research report on Thursday, July 18th. Morgan Stanley raised their price objective on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 15th. Piper Sandler reaffirmed a “neutral” rating and set a $140.00 target price on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Scotiabank lifted their price target on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 14th. Finally, Wells Fargo & Company upped their price target on Mid-America Apartment Communities from $129.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Friday, May 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Mid-America Apartment Communities has an average rating of “Hold” and a consensus price target of $141.59.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA traded down $1.31 during midday trading on Tuesday, reaching $143.72. 118,449 shares of the stock traded hands, compared to its average volume of 771,475. The company’s 50 day moving average is $138.43 and its 200 day moving average is $132.96. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $156.28. The stock has a market capitalization of $16.79 billion, a PE ratio of 30.29, a P/E/G ratio of 3.20 and a beta of 0.85. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.12.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The business had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. Mid-America Apartment Communities’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.28 EPS. On average, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Monday, July 15th. Mid-America Apartment Communities’s payout ratio is 123.27%.

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.