Neo Ivy Capital Management Makes New Investment in Mid-America Apartment Communities, Inc. (NYSE:MAA)

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

Several other hedge funds have also recently added to or reduced their stakes in the business. Ashton Thomas Securities LLC acquired a new position in shares of Mid-America Apartment Communities during the third quarter valued at $25,000. EdgeRock Capital LLC acquired a new position in Mid-America Apartment Communities during the 2nd quarter valued at about $26,000. Activest Wealth Management bought a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth about $32,000. UMB Bank n.a. lifted its stake in shares of Mid-America Apartment Communities by 82.4% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 108 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $37,000. Institutional investors own 93.60% of the company's stock.

Mid-America Apartment Communities Stock Up 0.0 %

Mid-America Apartment Communities stock traded up $0.02 during mid-day trading on Thursday, hitting $158.35. The company's stock had a trading volume of 612,473 shares, compared to its average volume of 742,470. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The firm's 50 day moving average is $156.78 and its 200 day moving average is $151.40. The company has a market cap of $18.51 billion, a PE ratio of 35.74, a price-to-earnings-growth ratio of 2.56 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly 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 company had revenue of $551.13 million during the quarter, compared to analysts' expectations of $548.53 million. During the same period last year, the company earned $2.29 earnings per share. Mid-America Apartment Communities's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be issued a dividend of $1.515 per share. This represents a $6.06 annualized dividend and a dividend yield of 3.83%. This is a positive change from Mid-America Apartment Communities's previous quarterly dividend of $1.47. The ex-dividend date is Wednesday, January 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 136.79%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MAA. Scotiabank lowered their price objective on shares of Mid-America Apartment Communities from $174.00 to $173.00 and set a "sector perform" rating on the stock in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a "hold" rating in a research note on Tuesday, September 10th. Wells Fargo & Company raised Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $138.00 to $174.00 in a research note on Monday, August 26th. StockNews.com cut shares of Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research report on Tuesday, November 5th. Finally, Piper Sandler raised their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $162.68.

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.