Envestnet Asset Management Inc. Purchases 13,982 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Envestnet Asset Management Inc. boosted its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 198,947 shares of the real estate investment trust’s stock after buying an additional 13,982 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of Mid-America Apartment Communities worth $28,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blackstone Inc. increased its holdings in shares of 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 purchasing an additional 20,000 shares during the period. Canada Pension Plan Investment Board grew its holdings in shares of Mid-America Apartment Communities by 1.5% in the first quarter. Canada Pension Plan Investment Board now owns 1,444,641 shares of the real estate investment trust’s stock worth $190,086,000 after purchasing an additional 21,000 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of Mid-America Apartment Communities by 96.9% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,220,328 shares of the real estate investment trust’s stock worth $164,085,000 after purchasing an additional 600,547 shares during the period. 1832 Asset Management L.P. raised its position in Mid-America Apartment Communities by 3.4% during the 1st quarter. 1832 Asset Management L.P. now owns 1,065,351 shares of the real estate investment trust’s stock valued at $140,179,000 after purchasing an additional 35,313 shares during the last quarter. Finally, Ceredex Value Advisors LLC increased its stake in shares of 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 valued at $94,424,000 after buying an additional 342,335 shares during the period. 93.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on MAA. 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 report on Friday, August 2nd. Bank of America raised Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $144.00 to $189.00 in a report on Monday, August 12th. Royal Bank of Canada boosted 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. Wells Fargo & Company upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $138.00 to $174.00 in a research report on Monday, August 26th. Finally, Truist Financial upped their price target on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $159.91.

Mid-America Apartment Communities Stock Down 1.2 %

Mid-America Apartment Communities stock opened at $162.46 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $18.98 billion, a PE ratio of 34.06, a price-to-earnings-growth ratio of 3.66 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a fifty-two week low of $115.56 and a fifty-two week high of $167.39. The firm has a 50 day moving average price of $153.86 and a 200 day moving average price of $140.94.

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.