Leeward Investments LLC MA Takes Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Leeward Investments LLC MA purchased a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the third quarter, Holdings Channel reports. The fund purchased 52,971 shares of the real estate investment trust’s stock, valued at approximately $8,417,000.

A number of other hedge funds have also recently made changes to their positions in the company. Johnson Investment Counsel Inc. boosted its stake in shares of Mid-America Apartment Communities by 1.1% during the second quarter. Johnson Investment Counsel Inc. now owns 6,986 shares of the real estate investment trust’s stock valued at $996,000 after purchasing an additional 77 shares in the last quarter. Telos Capital Management Inc. boosted its stake in shares of Mid-America Apartment Communities by 0.8% during the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock valued at $1,437,000 after purchasing an additional 78 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Mid-America Apartment Communities by 6.4% during the third quarter. V Square Quantitative Management LLC now owns 1,444 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 87 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Mid-America Apartment Communities by 5.4% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock valued at $227,000 after purchasing an additional 90 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Mid-America Apartment Communities by 12.3% during the first quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 93 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Stock Up 0.7 %

Shares of NYSE MAA opened at $154.69 on Friday. Mid-America Apartment Communities, Inc. has a one year low of $118.72 and a one year high of $167.39. 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 business’s fifty day moving average price is $157.59 and its 200-day moving average price is $146.74. The stock has a market capitalization of $18.08 billion, a PE ratio of 34.92, a P/E/G ratio of 2.45 and a beta of 0.88.

Mid-America Apartment Communities (NYSE:MAA) last issued 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). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.38%. The firm had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. During the same period in the prior year, the company earned $2.29 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current 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 paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.80%. Mid-America Apartment Communities’s payout ratio is 132.73%.

Analysts Set New Price Targets

MAA has been the topic of a number of recent analyst reports. Royal Bank of Canada cut their price objective on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research note on Friday, November 1st. Scotiabank lifted their price objective on Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Wedbush lifted their price objective on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. 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 research note on Thursday, July 18th. Finally, BNP Paribas started coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Hold” and an average price target of $161.69.

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.