Mid-America Apartment Communities, Inc. (NYSE:MAA) Position Raised by Holocene Advisors LP

Holocene Advisors LP raised its position in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 15.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,681 shares of the real estate investment trust's stock after purchasing an additional 4,133 shares during the period. Holocene Advisors LP's holdings in Mid-America Apartment Communities were worth $4,875,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth about $25,000. EdgeRock Capital LLC purchased a new position in Mid-America Apartment Communities in the second quarter valued at approximately $26,000. Activest Wealth Management purchased a new position in Mid-America Apartment Communities in the third quarter valued at approximately $32,000. UMB Bank n.a. raised its holdings 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 buying an additional 108 shares during the period. Finally, Catalyst Capital Advisors LLC purchased a new position in Mid-America Apartment Communities in the third quarter valued at approximately $37,000. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock traded down $0.86 during mid-day trading on Thursday, reaching $159.14. The company's stock had a trading volume of 495,607 shares, compared to its average volume of 743,617. The firm has a market cap of $18.60 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 2.59 and a beta of 0.90. The business has a 50 day moving average price of $156.63 and a 200-day moving average price of $150.52. 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, Inc. has a twelve month low of $121.51 and a twelve month high of $167.39.

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 EPS 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 analyst estimates of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business's revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 EPS. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities's dividend payout ratio is presently 132.73%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company upgraded 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 report on Monday, August 26th. Piper Sandler raised their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, August 26th. The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a "buy" rating and a $187.00 price objective for the company. BNP Paribas assumed coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a "neutral" rating and a $169.00 price objective for the company. Finally, StockNews.com downgraded shares of Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $162.68.

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.