1832 Asset Management L.P. Grows Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

1832 Asset Management L.P. increased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 7.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,140,287 shares of the real estate investment trust’s stock after acquiring an additional 74,936 shares during the period. 1832 Asset Management L.P. owned approximately 0.98% of Mid-America Apartment Communities worth $162,616,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DecisionPoint Financial LLC purchased a new position in shares of Mid-America Apartment Communities during the first quarter valued at approximately $26,000. EdgeRock Capital LLC purchased a new position in shares of Mid-America Apartment Communities during the second quarter valued at approximately $26,000. Mather Group LLC. purchased a new position in shares of Mid-America Apartment Communities during the first quarter valued at approximately $32,000. Versant Capital Management Inc boosted its position in shares of Mid-America Apartment Communities by 3,071.4% during 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 during the period. Finally, UMB Bank n.a. boosted its position in shares of Mid-America Apartment Communities by 82.4% during the second quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 108 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $162.46 on Friday. 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 fifty day moving average price of $153.86 and a 200-day moving average price of $140.94. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. The firm has a market cap of $18.98 billion, a PE ratio of 34.06, a P/E/G ratio of 3.66 and a beta of 0.88.

Analyst Ratings Changes

Several brokerages have issued reports on MAA. Wells Fargo & Company upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $138.00 to $174.00 in a research report on Monday, August 26th. Scotiabank increased their price objective on 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. Janney Montgomery Scott raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price objective on the stock in a research note on Thursday, June 13th. Mizuho increased their price objective on Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Finally, JMP Securities increased their price objective on Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $159.91.

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.