Carronade Capital Management LP Increases Stock Position in Mid-America Apartment Communities, Inc. $MAA

Key Points

• Carronade Capital Management LP increased its stake in Mid-America Apartment Communities, acquiring an additional 10,171 shares, leading to a total holding of 38,920 shares, valued at $6.52 million.
• Mid-America Apartment Communities reported quarterly earnings of $2.15 EPS, slightly surpassing analyst expectations, with a revenue of $549.90 million for the quarter.
• Analysts have varied opinions on the stock, with upgrades and downgrades leading to an average target price of $162.79 and a consensus "Hold" rating.

Carronade Capital Management LP lifted its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 35.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 38,920 shares of the real estate investment trust's stock after buying an additional 10,171 shares during the quarter. Mid-America Apartment Communities comprises about 0.4% of Carronade Capital Management LP's portfolio, making the stock its 21st largest holding. Carronade Capital Management LP's holdings in Mid-America Apartment Communities were worth $6,522,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in Mid-America Apartment Communities by 6.8% in the 1st quarter. Smartleaf Asset Management LLC now owns 1,021 shares of the real estate investment trust's stock valued at $169,000 after buying an additional 65 shares during the period. Alhambra Investment Management LLC increased its holdings in Mid-America Apartment Communities by 3.1% in the 1st quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust's stock valued at $363,000 after buying an additional 66 shares during the period. Stephens Inc. AR increased its holdings in Mid-America Apartment Communities by 2.6% in the 1st quarter. Stephens Inc. AR now owns 2,762 shares of the real estate investment trust's stock valued at $463,000 after buying an additional 70 shares during the period. Avantax Advisory Services Inc. increased its holdings in Mid-America Apartment Communities by 3.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 2,353 shares of the real estate investment trust's stock valued at $394,000 after buying an additional 80 shares during the period. Finally, Signaturefd LLC increased its holdings in Mid-America Apartment Communities by 2.9% in the 1st quarter. Signaturefd LLC now owns 2,851 shares of the real estate investment trust's stock valued at $478,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 93.60% of the company's stock.

Analyst Ratings Changes

MAA has been the topic of several recent analyst reports. The Goldman Sachs Group lowered shares of Mid-America Apartment Communities from a "buy" rating to a "neutral" rating and set a $165.00 target price on the stock. in a report on Friday, July 11th. Mizuho raised shares of Mid-America Apartment Communities from a "neutral" rating to an "outperform" rating and decreased their target price for the company from $161.00 to $150.00 in a report on Thursday, August 14th. Piper Sandler cut their target price on shares of Mid-America Apartment Communities from $170.00 to $153.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. JMP Securities upped their price target on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the stock a "market outperform" rating in a report on Thursday, May 22nd. Finally, Truist Financial cut their target price on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating on the stock in a research report on Wednesday, May 21st. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $162.79.

Mid-America Apartment Communities Stock Up 0.4%

MAA stock traded up $0.62 during midday trading on Thursday, reaching $144.03. 516,608 shares of the company's stock traded hands, compared to its average volume of 894,386. Mid-America Apartment Communities, Inc. has a 52 week low of $137.32 and a 52 week high of $173.38. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.83. The company has a market cap of $16.86 billion, a price-to-earnings ratio of 29.64, a P/E/G ratio of 3.90 and a beta of 0.78. The firm's fifty day moving average price is $145.99 and its 200-day moving average price is $154.34.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.01. The firm had revenue of $549.90 million during the quarter, compared to analyst estimates of $552.19 million. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The business's revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.22 EPS. Mid-America Apartment Communities has set its Q3 2025 guidance at 2.080-2.240 EPS. FY 2025 guidance at 8.650-8.890 EPS. As a group, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 3.0%. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 124.69%.

Mid-America Apartment Communities Company Profile

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.