Ashton Thomas Private Wealth LLC Increases Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Ashton Thomas Private Wealth LLC boosted its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 8.6% in the 3rd quarter, Holdings Channel reports. The firm owned 18,817 shares of the real estate investment trust’s stock after buying an additional 1,498 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Mid-America Apartment Communities were worth $2,990,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at about $25,000. EdgeRock Capital LLC purchased a new position in Mid-America Apartment Communities in the 2nd quarter worth approximately $26,000. Versant Capital Management Inc grew its position in Mid-America Apartment Communities by 3,071.4% in the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 215 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares during the period. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Mid-America Apartment Communities during the third quarter worth $37,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MAA. Royal Bank of Canada lowered their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a report on Friday, November 1st. Truist Financial lifted their target price 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. Piper Sandler increased their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Monday, August 26th. UBS Group lifted their price objective on Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a report on Thursday, July 18th. Finally, Wedbush upped their target price on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $161.69.

Mid-America Apartment Communities Price Performance

MAA opened at $159.76 on Wednesday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $157.40 and its 200 day moving average price is $147.67. Mid-America Apartment Communities, Inc. has a fifty-two week low of $118.72 and a fifty-two week high of $167.39. The firm has a market cap of $18.67 billion, a price-to-earnings ratio of 36.06, a price-to-earnings-growth ratio of 2.58 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last announced 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 for the quarter, compared to analyst estimates of $548.53 million. During the same quarter in the previous year, the company posted $2.29 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 132.73%.

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.