Y Intercept Hong Kong Ltd Purchases New Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Y Intercept Hong Kong Ltd acquired a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 18,185 shares of the real estate investment trust's stock, valued at approximately $2,890,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Czech National Bank raised its position in Mid-America Apartment Communities by 8.4% in the second quarter. Czech National Bank now owns 22,262 shares of the real estate investment trust's stock worth $3,175,000 after acquiring an additional 1,726 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Mid-America Apartment Communities by 52.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 61,468 shares of the real estate investment trust's stock valued at $8,766,000 after purchasing an additional 21,212 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Mid-America Apartment Communities by 6.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,698 shares of the real estate investment trust's stock worth $385,000 after buying an additional 166 shares in the last quarter. Capital Advisors Wealth Management LLC grew its position in Mid-America Apartment Communities by 15.4% during the second quarter. Capital Advisors Wealth Management LLC now owns 3,870 shares of the real estate investment trust's stock worth $552,000 after buying an additional 515 shares during the period. Finally, Abundance Wealth Counselors acquired a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at approximately $947,000. Institutional investors and hedge funds own 93.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Scotiabank decreased 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 report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a "hold" rating in a report on Tuesday, September 10th. Piper Sandler lifted their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, August 26th. Royal Bank of Canada reduced their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a "sector perform" rating on the stock in a research note on Friday, November 1st. Finally, The Goldman Sachs Group started coverage on 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities has an average rating of "Hold" and a consensus price target of $162.68.

Mid-America Apartment Communities Stock Down 0.3 %

Shares of NYSE MAA traded down $0.52 on Tuesday, hitting $158.64. The company had a trading volume of 474,694 shares, compared to its average volume of 741,533. 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 $121.51 and a 12-month high of $167.39. The firm has a market capitalization of $18.54 billion, a P/E ratio of 35.81, a PEG ratio of 2.56 and a beta of 0.90. The business has a 50 day moving average of $156.69 and a two-hundred day moving average of $151.30.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly 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). 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 quarter in the prior year, the company earned $2.29 EPS. The firm's revenue was up 1.7% compared to the same quarter last year. As a group, equities 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 15th will be given a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.82%. This is a positive change from Mid-America Apartment Communities's previous quarterly dividend of $1.47. Mid-America Apartment Communities's payout ratio is presently 132.73%.

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.