Mid-America Apartment Communities, Inc. (NYSE:MAA) Stake Increased by Assetmark Inc.

Assetmark Inc. grew its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 22,730.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,936 shares of the real estate investment trust’s stock after purchasing an additional 5,910 shares during the period. Assetmark Inc.’s holdings in Mid-America Apartment Communities were worth $943,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Principal Financial Group Inc. increased its stake in shares of Mid-America Apartment Communities by 3.3% in the third quarter. Principal Financial Group Inc. now owns 143,909 shares of the real estate investment trust’s stock worth $22,867,000 after acquiring an additional 4,618 shares during the last quarter. Leeward Investments LLC MA acquired a new position in shares of Mid-America Apartment Communities in the third quarter worth $8,417,000. Harvest Portfolios Group Inc. increased its stake in shares of Mid-America Apartment Communities by 123.5% in the third quarter. Harvest Portfolios Group Inc. now owns 11,218 shares of the real estate investment trust’s stock worth $1,783,000 after acquiring an additional 6,198 shares during the last quarter. Greenwood Capital Associates LLC increased its stake in shares of Mid-America Apartment Communities by 299.4% in the third quarter. Greenwood Capital Associates LLC now owns 51,134 shares of the real estate investment trust’s stock worth $8,125,000 after acquiring an additional 38,330 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Mid-America Apartment Communities in the third quarter worth $37,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of Mid-America Apartment Communities stock opened at $158.09 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a market cap of $18.48 billion, a P/E ratio of 35.69, a P/E/G ratio of 2.60 and a beta of 0.88. The firm has a 50 day simple moving average of $157.27 and a 200 day simple moving average of $148.02. Mid-America Apartment Communities, Inc. has a fifty-two week low of $120.32 and a fifty-two week high of $167.39.

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). The firm had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.29 earnings per share. Sell-side analysts predict that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were given a $1.47 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.72%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and upped their price target for the stock from $144.00 to $189.00 in a research note on Monday, August 12th. 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 research report on Tuesday, September 10th. Wedbush increased their target price on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Scotiabank lowered their target price 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. Finally, BNP Paribas assumed coverage on shares of 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $161.64.

Mid-America Apartment Communities 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.