Harvest Fund Management Co. Ltd Acquires 3,354 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Harvest Fund Management Co. Ltd lifted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 458.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,085 shares of the real estate investment trust's stock after purchasing 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 reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA boosted its holdings in Mid-America Apartment Communities by 17.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust's stock worth $375,515,000 after acquiring an additional 393,067 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Mid-America Apartment Communities by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust's stock worth $244,803,000 after acquiring an additional 97,672 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in Mid-America Apartment Communities by 2.8% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust's stock worth $234,497,000 after acquiring an additional 44,621 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Mid-America Apartment Communities by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,355,585 shares of the real estate investment trust's stock worth $215,402,000 after acquiring an additional 39,123 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in Mid-America Apartment Communities by 7.0% in the second quarter. 1832 Asset Management L.P. now owns 1,140,287 shares of the real estate investment trust's stock worth $162,616,000 after acquiring an additional 74,936 shares in the last quarter. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Performance

NYSE:MAA traded up $1.16 during trading hours on Tuesday, reaching $163.14. The stock had a trading volume of 520,414 shares, compared to its average volume of 747,251. 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 stock has a 50 day simple moving average of $156.67 and a 200 day simple moving average of $149.32. Mid-America Apartment Communities, Inc. has a 12-month low of $121.51 and a 12-month high of $167.39. The stock has a market cap of $19.07 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 2.59 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The firm had revenue of $551.13 million during the quarter, compared to analysts' expectations of $548.53 million. During the same period in the prior year, the business earned $2.29 earnings per share. The business's quarterly revenue was up 1.7% compared to the same quarter last year. On average, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal 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 given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities's dividend payout ratio is currently 132.73%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on MAA shares. Scotiabank cut their price target on Mid-America Apartment Communities from $174.00 to $173.00 and set a "sector perform" rating on the stock in a report on Thursday, November 14th. Truist Financial increased their price target 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. Bank of America upgraded Mid-America Apartment Communities from an "underperform" rating to a "buy" rating and increased their price target for the stock from $144.00 to $189.00 in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised their target price on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a "hold" rating in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group started coverage on Mid-America Apartment Communities in a report on Wednesday, September 4th. They issued a "buy" rating and a $187.00 target price on the stock. Two investment analysts have 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 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.