Harvest Portfolios Group Inc. Boosts Stock Position in Mid-America Apartment Communities, Inc. $MAA

Harvest Portfolios Group Inc. lifted its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 25.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 15,176 shares of the real estate investment trust’s stock after buying an additional 3,103 shares during the period. Harvest Portfolios Group Inc.’s holdings in Mid-America Apartment Communities were worth $2,246,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vestmark Advisory Solutions Inc. purchased a new stake in Mid-America Apartment Communities in the 2nd quarter worth $205,000. Cbre Investment Management Listed Real Assets LLC acquired a new stake in shares of Mid-America Apartment Communities in the second quarter valued at about $18,508,000. Andra AP fonden grew its position in shares of Mid-America Apartment Communities by 117.5% in the second quarter. Andra AP fonden now owns 120,200 shares of the real estate investment trust’s stock valued at $17,791,000 after purchasing an additional 64,940 shares during the period. Anchor Capital Advisors LLC increased its stake in shares of Mid-America Apartment Communities by 18.3% during the second quarter. Anchor Capital Advisors LLC now owns 356,670 shares of the real estate investment trust’s stock worth $52,791,000 after purchasing an additional 55,275 shares in the last quarter. Finally, Atlantic Union Bankshares Corp acquired a new position in shares of Mid-America Apartment Communities during the 2nd quarter worth about $65,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. BNP Paribas cut Mid-America Apartment Communities from a “hold” rating to a “strong sell” rating in a report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, October 8th. Royal Bank Of Canada dropped their price target on Mid-America Apartment Communities from $143.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, October 31st. UBS Group decreased their price objective on Mid-America Apartment Communities from $149.00 to $142.00 and set a “sell” rating on the stock in a report on Tuesday, July 15th. Finally, Mizuho raised shares of Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and lowered their target price for the stock from $161.00 to $150.00 in a research note on Thursday, August 14th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $158.44.

Mid-America Apartment Communities Price Performance

NYSE:MAA opened at $129.56 on Friday. Mid-America Apartment Communities, Inc. has a one year low of $125.75 and a one year high of $173.38. The stock has a market cap of $15.17 billion, a PE ratio of 27.45, a P/E/G ratio of 3.38 and a beta of 0.78. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.10 and a current ratio of 0.10. The stock has a 50 day moving average price of $136.60 and a 200 day moving average price of $146.05.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 29th. The real estate investment trust reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.01). Mid-America Apartment Communities had a net margin of 25.23% and a return on equity of 9.10%. The company had revenue of $554.37 million during the quarter, compared to analysts’ expectations of $557.22 million. During the same quarter in the previous year, the company earned $2.21 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Mid-America Apartment Communities has set its FY 2025 guidance at 8.680-8.800 EPS. Q4 2025 guidance at 2.170-2.290 EPS. Equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 15th were given a dividend of $1.515 per share. The ex-dividend date was Wednesday, October 15th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.06. This represents a $6.06 annualized dividend and a yield of 4.7%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 128.39%.

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. bought 578 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were bought at an average cost of $129.36 per share, for a total transaction of $74,770.08. Following the acquisition, the chief executive officer directly owned 320,391 shares of the company’s stock, valued at $41,445,779.76. This trade represents a 0.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.20% of the stock is owned by company insiders.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.