1,610 Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA) Purchased by Ground Swell Capital LLC

by · The Cerbat Gem

Ground Swell Capital LLC purchased a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,610 shares of the real estate investment trust’s stock, valued at approximately $256,000.

Several other hedge funds have also bought and sold shares of the stock. Illinois Municipal Retirement Fund lifted its stake in shares of Mid-America Apartment Communities by 531.5% in the 1st quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the real estate investment trust’s stock valued at $5,831,000 after purchasing an additional 37,299 shares during the period. QRG Capital Management Inc. raised its position in shares of Mid-America Apartment Communities by 12.8% in the second 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 during the period. Swedbank AB acquired a new position in shares of Mid-America Apartment Communities in the first quarter worth about $26,107,000. Prosperity Consulting Group LLC purchased a new stake in shares of Mid-America Apartment Communities during the 2nd quarter worth about $2,572,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Mid-America Apartment Communities by 1,117.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 122,471 shares of the real estate investment trust’s stock valued at $16,115,000 after acquiring an additional 112,411 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

MAA stock opened at $149.17 on Monday. The business’s fifty day moving average price is $158.10 and its 200 day moving average price is $146.09. Mid-America Apartment Communities, Inc. has a 12-month low of $118.68 and a 12-month high of $167.39. The company has a market capitalization of $17.43 billion, a PE ratio of 33.67, a P/E/G ratio of 2.44 and a beta of 0.88. The company has a current ratio of 0.09, a quick ratio of 0.12 and a debt-to-equity ratio of 0.80.

Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.20). The firm had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $2.29 earnings per share. On average, sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.94%. Mid-America Apartment Communities’s payout ratio is currently 132.73%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MAA. Royal Bank of Canada dropped their price objective on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a report on Friday. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $138.00 to $174.00 in a research note on Monday, August 26th. Piper Sandler boosted their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Bank of America raised 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 note on Monday, August 12th. Finally, JMP Securities upped their target price on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $161.69.

View Our Latest Report on MAA

About Mid-America Apartment Communities

(Free Report)

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.

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