Activest Wealth Management Buys Shares of 200 Mid-America Apartment Communities, Inc. (NYSE:MAA)

Activest Wealth Management purchased a new position in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 200 shares of the real estate investment trust’s stock, valued at approximately $32,000.

Several other hedge funds have also recently modified their holdings of MAA. QRG Capital Management Inc. increased its holdings in Mid-America Apartment Communities by 12.8% in the 2nd quarter. QRG Capital Management Inc. now owns 30,516 shares of the real estate investment trust’s stock worth $4,352,000 after acquiring an additional 3,451 shares in the last quarter. Swedbank AB purchased a new position in Mid-America Apartment Communities in the 1st quarter valued at approximately $26,107,000. Prosperity Consulting Group LLC purchased a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at approximately $2,572,000. Portside Wealth Group LLC acquired a new position in Mid-America Apartment Communities in the second quarter valued at approximately $808,000. Finally, Bank of Montreal Can increased its position in shares of Mid-America Apartment Communities by 6.1% during the second quarter. Bank of Montreal Can now owns 156,374 shares of the real estate investment trust’s stock worth $22,446,000 after purchasing an additional 8,984 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA opened at $158.67 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. The company has a market capitalization of $18.55 billion, a P/E ratio of 35.82, a price-to-earnings-growth ratio of 2.55 and a beta of 0.88. The company’s 50-day moving average is $156.87 and its 200 day moving average is $148.77. Mid-America Apartment Communities, Inc. has a fifty-two week low of $121.38 and a fifty-two week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results 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 firm had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 earnings per share. On average, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 132.73%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MAA. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $138.00 to $174.00 in a research note on Monday, August 26th. BNP Paribas assumed coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 target price on the stock. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price target for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Royal Bank of Canada dropped 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 research note on Friday, November 1st. Finally, JMP Securities raised their price target on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $161.64.

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.