Norden Group LLC Acquires New Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Norden Group LLC bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,106 shares of the real estate investment trust’s stock, valued at approximately $300,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MAA. DecisionPoint Financial LLC acquired a new position in shares of Mid-America Apartment Communities during the first quarter worth $26,000. EdgeRock Capital LLC bought a new position in Mid-America Apartment Communities during the second quarter worth $26,000. First United Bank & Trust acquired a new stake in shares of Mid-America Apartment Communities in the 4th quarter valued at about $27,000. Mather Group LLC. acquired a new stake in Mid-America Apartment Communities in the first quarter valued at approximately $32,000. Finally, Versant Capital Management Inc lifted its stake 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 valued at $32,000 after buying an additional 215 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Price Performance

Shares of MAA opened at $160.35 on Tuesday. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of 33.62, a P/E/G ratio of 3.55 and a beta of 0.88. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. The business’s 50-day moving average is $149.42 and its 200-day moving average is $138.64. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $165.14.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MAA shares. JMP Securities raised their target price on 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. Truist Financial increased their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Scotiabank boosted their price objective on shares of Mid-America Apartment Communities from $151.00 to $161.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Mizuho lifted their price objective on Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $138.00 to $174.00 in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $157.03.

Mid-America Apartment Communities Company 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.