Andra AP fonden Trims Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Andra AP fonden lessened its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 34.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,800 shares of the real estate investment trust’s stock after selling 26,500 shares during the quarter. Andra AP fonden’s holdings in Mid-America Apartment Communities were worth $7,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Telos Capital Management Inc. lifted its position in Mid-America Apartment Communities by 0.8% during the second quarter. Telos Capital Management Inc. now owns 10,076 shares of the real estate investment trust’s stock valued at $1,437,000 after purchasing an additional 78 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Mid-America Apartment Communities by 5.4% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,762 shares of the real estate investment trust’s stock valued at $227,000 after acquiring an additional 90 shares during the period. Covestor Ltd increased its holdings in Mid-America Apartment Communities by 12.3% in the 1st quarter. Covestor Ltd now owns 848 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 93 shares in the last quarter. Czech National Bank increased its holdings in Mid-America Apartment Communities by 0.5% in the 1st quarter. Czech National Bank now owns 20,536 shares of the real estate investment trust’s stock worth $2,702,000 after acquiring an additional 99 shares in the last quarter. Finally, State of Michigan Retirement System raised its stake in Mid-America Apartment Communities by 0.3% during the 1st quarter. State of Michigan Retirement System now owns 33,599 shares of the real estate investment trust’s stock worth $4,421,000 after acquiring an additional 100 shares during the period. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Mid-America Apartment Communities stock opened at $164.70 on Thursday. The company’s 50-day moving average price is $150.37 and its 200-day moving average price is $139.08. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The company has a market cap of $19.24 billion, a PE ratio of 34.53, a price-to-earnings-growth ratio of 3.55 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a twelve month low of $115.56 and a twelve month high of $165.95.

Analysts Set New Price Targets

MAA has been the subject of a number of analyst reports. Piper Sandler increased their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Royal Bank of Canada raised their price target on Mid-America Apartment Communities from $145.00 to $148.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. BNP Paribas assumed coverage on Mid-America Apartment Communities in a research note on Wednesday. They issued a “neutral” rating and a $169.00 price objective for the company. Wells Fargo & Company upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Finally, Janney Montgomery Scott raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Hold” and a consensus target price of $159.15.

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.