Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,110 shares of the real estate investment trust’s stock after selling 250 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Mid-America Apartment Communities were worth $2,012,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MAA. PNC Financial Services Group Inc. increased its position in Mid-America Apartment Communities by 26.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,310 shares of the real estate investment trust’s stock worth $1,521,000 after purchasing an additional 2,397 shares during the period. Wells Fargo & Company MN raised its position in Mid-America Apartment Communities by 54.9% in the fourth quarter. Wells Fargo & Company MN now owns 216,091 shares of the real estate investment trust’s stock worth $29,056,000 after acquiring an additional 76,598 shares in the last quarter. Corient Private Wealth LLC lifted its holdings in Mid-America Apartment Communities by 11.4% in the fourth quarter. Corient Private Wealth LLC now owns 13,576 shares of the real estate investment trust’s stock valued at $1,825,000 after acquiring an additional 1,388 shares during the period. Commerce Bank lifted its holdings in Mid-America Apartment Communities by 51.8% in the fourth quarter. Commerce Bank now owns 9,508 shares of the real estate investment trust’s stock valued at $1,278,000 after acquiring an additional 3,244 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of Mid-America Apartment Communities by 0.3% during the 4th quarter. Hsbc Holdings PLC now owns 374,462 shares of the real estate investment trust’s stock worth $50,445,000 after purchasing an additional 1,204 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $163.66 on Tuesday. The company has a 50-day simple moving average of $154.33 and a 200-day simple moving average of $141.24. 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 has a market cap of $19.12 billion, a PE ratio of 34.31, a price-to-earnings-growth ratio of 3.66 and a beta of 0.88. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $167.39.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MAA shares. Scotiabank increased their price target on shares of 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. Janney Montgomery Scott upgraded shares of 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. Mizuho upped their price target on Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. JMP Securities lifted 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. Finally, Piper Sandler boosted their target price 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. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.