200 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Bought by Activest Wealth Management

Activest Wealth Management acquired a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 200 shares of the real estate investment trust’s stock, valued at approximately $32,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MAA. QRG Capital Management Inc. raised its position in shares of Mid-America Apartment Communities by 12.8% in the 2nd quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock worth $4,352,000 after acquiring an additional 3,451 shares in the last quarter. Swedbank AB purchased a new stake in shares of Mid-America Apartment Communities in the first quarter valued at approximately $26,107,000. Prosperity Consulting Group LLC acquired a new stake in shares of Mid-America Apartment Communities in the second quarter worth approximately $2,572,000. Portside Wealth Group LLC purchased a new position in Mid-America Apartment Communities during the second quarter worth approximately $808,000. Finally, Bank of Montreal Can boosted its holdings in Mid-America Apartment Communities by 6.1% in the 2nd quarter. Bank of Montreal Can now owns 156,374 shares of the real estate investment trust’s stock valued at $22,446,000 after purchasing an additional 8,984 shares during the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $144.00 to $189.00 in a research note on Monday, August 12th. The Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price on the stock. Piper Sandler lifted their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price on the stock in a report on Monday, October 21st. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $161.64.

Mid-America Apartment Communities Price Performance

NYSE MAA opened at $158.67 on Friday. The company has a market cap of $18.55 billion, a P/E ratio of 35.82, a P/E/G ratio of 2.55 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 1 year low of $121.38 and a 1 year high of $167.39. The company has a fifty day simple moving average of $156.87 and a 200 day simple moving average of $148.77. 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 results 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). The business had revenue of $551.13 million for 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 company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.29 earnings per share. On average, sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Mid-America Apartment Communities 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.