Centiva Capital LP Increases Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Centiva Capital LP raised its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 562.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 34,053 shares of the real estate investment trust’s stock after buying an additional 28,916 shares during the period. Centiva Capital LP’s holdings in Mid-America Apartment Communities were worth $5,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. boosted its position in shares of Mid-America Apartment Communities by 2,378.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 84,339 shares of the real estate investment trust’s stock valued at $13,401,000 after acquiring an additional 80,936 shares during the last quarter. Paloma Partners Management Co purchased a new position in Mid-America Apartment Communities during the third quarter worth about $383,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in Mid-America Apartment Communities during the third quarter worth about $6,515,000. Captrust Financial Advisors boosted its holdings in Mid-America Apartment Communities by 3.7% in the 3rd quarter. Captrust Financial Advisors now owns 7,091 shares of the real estate investment trust’s stock valued at $1,127,000 after purchasing an additional 251 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at approximately $357,000. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock opened at $164.61 on Monday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.80. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The firm has a market cap of $19.24 billion, a PE ratio of 37.06, a price-to-earnings-growth ratio of 2.64 and a beta of 0.88. The company’s 50 day moving average is $156.72 and its two-hundred day moving average is $150.11.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (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 company had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. During the same quarter last year, the business posted $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 expect that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced 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 was Tuesday, October 15th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.57%. Mid-America Apartment Communities’s payout ratio is 132.73%.

Wall Street Analysts Forecast Growth

MAA has been the topic of several analyst reports. 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 research report on Monday, August 12th. 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 on the stock. Truist Financial increased their price target on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Royal Bank of Canada reduced their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Finally, Raymond James raised shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price for the company in a research note on Monday, October 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given 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 $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.