Harvest Portfolios Group Inc. Boosts Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Harvest Portfolios Group Inc. boosted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 123.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,218 shares of the real estate investment trust’s stock after purchasing 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 quarter.

Several other hedge funds have also bought and sold shares of MAA. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Mid-America Apartment Communities by 13.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,480 shares of the real estate investment trust’s stock valued at $3,103,000 after acquiring an additional 2,727 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Mid-America Apartment Communities by 0.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 21,935 shares of the real estate investment trust’s stock valued at $2,886,000 after buying an additional 201 shares in the last quarter. Whittier Trust Co. boosted its holdings in Mid-America Apartment Communities by 77.8% in the 1st quarter. Whittier Trust Co. now owns 1,143 shares of the real estate investment trust’s stock worth $150,000 after buying an additional 500 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in Mid-America Apartment Communities by 34.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,859 shares of the real estate investment trust’s stock worth $508,000 after buying an additional 987 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in Mid-America Apartment Communities during the first quarter valued at about $232,000. Institutional investors own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MAA. BNP Paribas began coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 target price for the company. Wedbush lifted their price objective on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Truist Financial upped 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 report on Monday, August 26th. Royal Bank of Canada reduced their price target 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. Finally, Piper Sandler increased their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $161.69.

Mid-America Apartment Communities Trading Down 0.9 %

MAA 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 stock has a market capitalization 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. 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 firm’s fifty day simple moving average is $157.72 and its two-hundred day simple moving average is $146.68.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. During the same period last year, the company earned $2.29 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 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.