Neo Ivy Capital Management Buys Shares of 5,040 Mid-America Apartment Communities, Inc. (NYSE:MAA)

Neo Ivy Capital Management bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,040 shares of the real estate investment trust’s stock, valued at approximately $800,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in Mid-America Apartment Communities in the third quarter valued at approximately $25,000. EdgeRock Capital LLC acquired a new position in shares of Mid-America Apartment Communities during the 2nd quarter valued at $26,000. Activest Wealth Management bought a new position in Mid-America Apartment Communities during the third quarter worth $32,000. Catalyst Capital Advisors LLC acquired a new stake in Mid-America Apartment Communities in the third quarter worth $37,000. Finally, UMB Bank n.a. increased its stake in Mid-America Apartment Communities by 82.4% in the second 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 in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MAA has been the topic of a number of research analyst reports. Piper Sandler increased their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada reduced their price objective on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research note on Friday, November 1st. Truist Financial increased their target price on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, Raymond James raised shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $162.68.

Mid-America Apartment Communities Price Performance

MAA opened at $158.33 on Thursday. Mid-America Apartment Communities, Inc. has a fifty-two week low of $121.51 and a fifty-two week high of $167.39. The firm has a 50-day moving average of $156.71 and a 200 day moving average of $151.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market cap of $18.51 billion, a P/E ratio of 35.74, a PEG ratio of 2.56 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last released its 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). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The company had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. During the same period in the prior year, the company earned $2.29 earnings per share. The firm’s revenue was up 1.7% on a year-over-year basis. On average, research analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Wednesday, January 15th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. Mid-America Apartment Communities’s dividend payout ratio is currently 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.