First Commonwealth Financial Corp PA Has $664,000 Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

First Commonwealth Financial Corp PA boosted its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,178 shares of the real estate investment trust’s stock after purchasing an additional 86 shares during the period. First Commonwealth Financial Corp PA’s holdings in Mid-America Apartment Communities were worth $664,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MAA. Ashton Thomas Securities LLC bought a new position in Mid-America Apartment Communities during the 3rd quarter valued at about $25,000. EdgeRock Capital LLC bought a new position in Mid-America Apartment Communities during the 2nd quarter valued at about $26,000. Versant Capital Management Inc lifted its holdings in 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 valued at $32,000 after purchasing an additional 215 shares during the last quarter. Activest Wealth Management bought a new position in Mid-America Apartment Communities during the 3rd quarter valued at about $32,000. Finally, UMB Bank n.a. lifted its holdings in Mid-America Apartment Communities by 82.4% during the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares during the last quarter. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Stock Up 1.3 %

Shares of Mid-America Apartment Communities stock traded up $2.06 on Wednesday, hitting $165.22. The company had a trading volume of 44,637 shares, compared to its average volume of 744,170. The firm has a market capitalization of $19.31 billion, a P/E ratio of 36.83, a P/E/G ratio of 2.61 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a twelve month low of $121.51 and a twelve month high of $167.39. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a 50-day moving average of $156.65 and a 200-day moving average of $149.52.

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 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 net margin of 23.84% and a return on equity of 8.38%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.29 EPS. Research analysts predict 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. Stockholders of record on Tuesday, October 15th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MAA shares. BNP Paribas started coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price for the company. Wedbush boosted their target price on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. JMP Securities lifted their price target on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $144.00 to $189.00 in a research report on Monday, August 12th. Finally, StockNews.com cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and a consensus target price of $161.64.

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.