Argent Trust Co Sells 89 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Argent Trust Co decreased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,285 shares of the real estate investment trust’s stock after selling 89 shares during the period. Argent Trust Co’s holdings in Mid-America Apartment Communities were worth $326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Mid-America Apartment Communities by 323.8% in the fourth quarter. Wellington Management Group LLP now owns 40,385 shares of the real estate investment trust’s stock worth $5,430,000 after acquiring an additional 30,855 shares during the period. Perpetual Ltd purchased a new stake in shares of Mid-America Apartment Communities during the 1st quarter valued at about $15,413,000. Miller Howard Investments Inc. NY lifted its stake in shares of Mid-America Apartment Communities by 9.9% in the 1st quarter. Miller Howard Investments Inc. NY now owns 197,478 shares of the real estate investment trust’s stock worth $25,984,000 after purchasing an additional 17,765 shares during the period. Janney Montgomery Scott LLC grew its position in Mid-America Apartment Communities by 163.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 21,734 shares of the real estate investment trust’s stock valued at $2,923,000 after buying an additional 13,474 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Mid-America Apartment Communities by 159.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 26,261 shares of the real estate investment trust’s stock valued at $3,531,000 after buying an additional 16,144 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MAA. Scotiabank lifted their price target on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. Piper Sandler upped their price target on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Wedbush boosted their price objective on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. BNP Paribas began coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They set a “neutral” rating and a $169.00 target price on the stock. Finally, Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $138.00 to $174.00 in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $159.91.

Mid-America Apartment Communities Trading Down 1.2 %

Shares of MAA stock opened at $162.46 on Friday. The stock’s 50-day moving average price is $153.86 and its 200-day moving average price is $140.86. Mid-America Apartment Communities, Inc. has a 12-month low of $115.56 and a 12-month high of $167.39. The stock has a market capitalization of $18.98 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 3.66 and a beta of 0.88. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76.

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.