Mid-America Apartment Communities, Inc. (NYSE:MAA) Position Decreased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 34.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 37,402 shares of the real estate investment trust’s stock after selling 19,481 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Mid-America Apartment Communities were worth $5,334,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. DecisionPoint Financial LLC purchased a new stake in shares of Mid-America Apartment Communities in the first quarter worth approximately $26,000. EdgeRock Capital LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter worth approximately $26,000. Mather Group LLC. purchased a new stake in shares of Mid-America Apartment Communities in the first quarter worth approximately $32,000. Versant Capital Management Inc lifted its position 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 worth $32,000 after purchasing an additional 215 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Mid-America Apartment Communities by 82.4% in the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 108 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Trading Up 0.3 %

Shares of Mid-America Apartment Communities stock opened at $166.65 on Tuesday. The firm has a market capitalization of $19.47 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 3.66 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 company’s fifty day moving average price is $151.42 and its two-hundred day moving average price is $139.75. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $167.39.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Piper Sandler raised their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective on the stock. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their price objective for the company from $144.00 to $189.00 in a research report on Monday, August 12th. JMP Securities raised their price objective on shares of 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $159.91.

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.