Oppenheimer Asset Management Inc. Acquires New Shares in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Oppenheimer Asset Management Inc. bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,601 shares of the real estate investment trust’s stock, valued at approximately $371,000.

Several other hedge funds also recently bought and sold shares of MAA. Blackstone Inc. increased its holdings in Mid-America Apartment Communities by 1.0% in the fourth quarter. Blackstone Inc. now owns 2,063,861 shares of the real estate investment trust’s stock worth $277,507,000 after buying an additional 20,000 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Mid-America Apartment Communities by 1.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 1,444,641 shares of the real estate investment trust’s stock valued at $190,086,000 after purchasing an additional 21,000 shares in the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Mid-America Apartment Communities by 96.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock valued at $164,085,000 after purchasing an additional 600,547 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Mid-America Apartment Communities by 3.4% in the first quarter. 1832 Asset Management L.P. now owns 1,065,351 shares of the real estate investment trust’s stock worth $140,179,000 after purchasing an additional 35,313 shares in the last quarter. Finally, Ceredex Value Advisors LLC increased its position in Mid-America Apartment Communities by 107.1% during the second quarter. Ceredex Value Advisors LLC now owns 662,110 shares of the real estate investment trust’s stock worth $94,424,000 after buying an additional 342,335 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Janney Montgomery Scott raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research report on Thursday, June 13th. JMP Securities upped their target price on Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Scotiabank increased their price target on Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Wedbush boosted their price objective on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus price target of $159.91.

Mid-America Apartment Communities Price Performance

Shares of MAA stock 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 company has a market capitalization of $18.98 billion, a P/E ratio of 34.06, a P/E/G ratio of 3.66 and a beta of 0.88. The stock has a 50 day moving average of $153.86 and a two-hundred day moving average 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.

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.