Brooklyn Investment Group Purchases New Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Brooklyn Investment Group purchased a new position in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 437 shares of the real estate investment trust’s stock, valued at approximately $69,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Ashton Thomas Securities LLC purchased a new position in shares of Mid-America Apartment Communities in the third quarter worth $25,000. EdgeRock Capital LLC purchased a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at about $26,000. Activest Wealth Management bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $32,000. Versant Capital Management Inc boosted its holdings in shares of Mid-America Apartment Communities by 3,071.4% in the second quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 215 shares during the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in Mid-America Apartment Communities during the third quarter valued at approximately $37,000. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $165.20 on Friday. The stock has a market cap of $19.31 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 2.61 and a beta of 0.88. The firm has a 50-day moving average of $156.68 and a two-hundred day moving average of $149.63. Mid-America Apartment Communities, Inc. has a 1 year low of $121.51 and a 1 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.

Mid-America Apartment Communities (NYSE:MAA) last issued its 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). 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 the consensus estimate of $548.53 million. During the same period last year, the firm earned $2.29 earnings per share. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.56%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 132.73%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MAA shares. 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 on the stock in a research note on Friday, November 1st. Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $144.00 to $189.00 in a research report on Monday, August 12th. BNP Paribas began coverage on shares of 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. JMP Securities raised their price objective on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $162.68.

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.