First Commonwealth Financial Corp PA Acquires 515 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

First Commonwealth Financial Corp PA boosted its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 13.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,487 shares of the real estate investment trust’s stock after acquiring an additional 515 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Mid-America Apartment Communities were worth $590,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vident Advisory LLC lifted its stake in Mid-America Apartment Communities by 50.1% during the 1st quarter. Vident Advisory LLC now owns 27,098 shares of the real estate investment trust’s stock valued at $3,566,000 after acquiring an additional 9,047 shares in the last quarter. Shell Asset Management Co. boosted its holdings in Mid-America Apartment Communities by 64.6% during the first quarter. Shell Asset Management Co. now owns 13,908 shares of the real estate investment trust’s stock worth $1,830,000 after purchasing an additional 5,458 shares during the last quarter. Natixis grew its position in Mid-America Apartment Communities by 21.9% in the 1st quarter. Natixis now owns 12,676 shares of the real estate investment trust’s stock worth $1,668,000 after purchasing an additional 2,274 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Mid-America Apartment Communities in the 1st quarter valued at about $284,000. Finally, Saturna Capital Corp lifted its position in shares of Mid-America Apartment Communities by 22.2% during the 1st quarter. Saturna Capital Corp now owns 2,145 shares of the real estate investment trust’s stock worth $282,000 after buying an additional 390 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MAA. UBS Group raised their target price on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research report on Thursday, July 18th. Morgan Stanley boosted their target price on Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 15th. Scotiabank increased their price target on Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 14th. Wells Fargo & Company boosted their price objective on Mid-America Apartment Communities from $129.00 to $138.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Finally, Truist Financial increased their target price on shares of Mid-America Apartment Communities from $148.00 to $156.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Mid-America Apartment Communities currently has an average rating of “Hold” and a consensus target price of $141.59.

Mid-America Apartment Communities Price Performance

MAA traded up $2.38 during trading on Friday, reaching $142.50. The stock had a trading volume of 496,776 shares, compared to its average volume of 771,259. The business has a 50-day moving average of $138.74 and a 200-day moving average of $133.17. Mid-America Apartment Communities, Inc. has a one year low of $115.56 and a one year high of $153.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market cap of $16.65 billion, a PE ratio of 29.87, a PEG ratio of 3.19 and a beta of 0.85.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The firm had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. Mid-America Apartment Communities’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 earnings per share. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 4.13%. The ex-dividend date is Monday, July 15th. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

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.