Truvestments Capital LLC Increases Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Truvestments Capital LLC boosted its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,093 shares of the real estate investment trust’s stock after buying an additional 249 shares during the quarter. Truvestments Capital LLC’s holdings in Mid-America Apartment Communities were worth $3,034,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Ashton Thomas Securities LLC acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at approximately $25,000. EdgeRock Capital LLC acquired a new position in Mid-America Apartment Communities during the 2nd quarter worth $26,000. Activest Wealth Management bought a new stake in shares of Mid-America Apartment Communities in the 3rd quarter worth about $32,000. Versant Capital Management Inc lifted its position in shares of Mid-America Apartment Communities by 3,071.4% during the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 215 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in Mid-America Apartment Communities in the third quarter worth about $37,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Trading Up 1.5 %

Mid-America Apartment Communities stock opened at $160.94 on Monday. Mid-America Apartment Communities, Inc. has a 12-month low of $121.38 and a 12-month high of $167.39. The stock has a market capitalization of $18.81 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 2.59 and a beta of 0.88. The firm has a 50 day simple moving average of $156.76 and a 200-day simple moving average of $149.14. 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 (NYSE:MAA) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.20). The firm had revenue of $551.13 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.29 earnings per share. As a group, equities research analysts expect 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 was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 132.73%.

Analyst Ratings Changes

Several research analysts have recently commented on MAA shares. The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. 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 report on Monday, August 12th. Truist Financial boosted their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, BNP Paribas started coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus target price of $161.64.

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.