Harvest Portfolios Group Inc. Acquires 6,198 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Harvest Portfolios Group Inc. boosted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 123.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,218 shares of the real estate investment trust's stock after buying an additional 6,198 shares during the period. Harvest Portfolios Group Inc.'s holdings in Mid-America Apartment Communities were worth $1,783,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MAA. Illinois Municipal Retirement Fund grew its holdings in Mid-America Apartment Communities by 531.5% during the first quarter. Illinois Municipal Retirement Fund now owns 44,317 shares of the real estate investment trust's stock worth $5,831,000 after buying an additional 37,299 shares in the last quarter. QRG Capital Management Inc. grew its holdings in Mid-America Apartment Communities by 12.8% during 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 buying an additional 3,451 shares in the last quarter. Swedbank AB bought a new stake in Mid-America Apartment Communities during the first quarter worth $26,107,000. Prosperity Consulting Group LLC bought a new stake in Mid-America Apartment Communities during the second quarter worth $2,572,000. Finally, Portside Wealth Group LLC bought a new stake in Mid-America Apartment Communities during the second quarter worth $808,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MAA has been the subject of several recent research reports. Scotiabank upped their price target on Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a "sector perform" rating in a report on Monday, September 16th. 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 report on Monday, August 26th. Raymond James raised 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 report on Monday, October 21st. Wedbush boosted their price objective on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. Finally, Truist Financial boosted their price objective on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a "buy" rating in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $161.69.

Mid-America Apartment Communities Price Performance

MAA traded up $0.40 during trading on Thursday, reaching $153.99. 130,889 shares of the company were exchanged, compared to its average volume of 752,952. The company's 50-day moving average is $157.72 and its two-hundred day moving average is $146.68. The company has a market cap of $18.00 billion, a price-to-earnings ratio of 34.67, a P/E/G ratio of 2.45 and a beta of 0.88. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 12-month low of $118.72 and a 12-month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced 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). The business had revenue of $551.13 million during the quarter, compared to the consensus estimate 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 was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 earnings per share. Research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $1.47 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a yield of 3.82%. Mid-America Apartment Communities's dividend payout ratio is currently 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.