Harvest Fund Management Co. Ltd Has $649,000 Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Harvest Fund Management Co. Ltd increased its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 458.8% during the third quarter, according to its most recent 13F filing 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 period. Harvest Fund Management Co. Ltd’s holdings in Mid-America Apartment Communities were worth $649,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in MAA. Ashton Thomas Securities LLC purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $25,000. EdgeRock Capital LLC purchased a new stake in Mid-America Apartment Communities in the 2nd quarter valued at about $26,000. Activest Wealth Management purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $32,000. Versant Capital Management Inc increased its stake in Mid-America Apartment Communities by 3,071.4% in the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 215 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Up 0.7 %

MAA opened at $162.00 on Tuesday. The company has a 50 day moving average of $156.76 and a 200 day moving average of $149.14. The company has a market cap of $18.93 billion, a PE ratio of 36.57, a price-to-earnings-growth ratio of 2.59 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 12 month low of $121.51 and a 12 month high of $167.39. 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 released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.20). The business had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the business posted $2.29 earnings per share. On average, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Analyst Ratings Changes

Several equities research analysts have commented on MAA shares. Truist Financial increased their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research note on Monday, August 26th. 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 objective for the company in a research note on Monday, October 21st. Piper Sandler increased their target price 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. Scotiabank reduced their target price on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Finally, StockNews.com downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus target price 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.