Centersquare Investment Management LLC increased its position in shares of Mid-America Apartment Communities Inc (NYSE:MAA) by 157,752.2% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 353,589 shares of the real estate investment trust’s stock after purchasing an additional 353,365 shares during the quarter. Centersquare Investment Management LLC owned 0.31% of Mid-America Apartment Communities worth $41,639,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Barings LLC purchased a new stake in shares of Mid-America Apartment Communities in the first quarter valued at $45,411,000. Janus Henderson Group PLC grew its position in Mid-America Apartment Communities by 46.1% during the first quarter. Janus Henderson Group PLC now owns 1,186,322 shares of the real estate investment trust’s stock valued at $129,702,000 after acquiring an additional 374,503 shares during the period. Ceredex Value Advisors LLC grew its position in Mid-America Apartment Communities by 91.0% during the first quarter. Ceredex Value Advisors LLC now owns 653,161 shares of the real estate investment trust’s stock valued at $71,410,000 after acquiring an additional 311,212 shares during the period. FMR LLC grew its position in Mid-America Apartment Communities by 28.2% during the first quarter. FMR LLC now owns 1,352,227 shares of the real estate investment trust’s stock valued at $147,839,000 after acquiring an additional 297,563 shares during the period. Finally, Hexavest Inc. purchased a new stake in Mid-America Apartment Communities during the second quarter valued at about $24,133,000. 93.01% of the stock is owned by hedge funds and other institutional investors.
Shares of MAA stock opened at $128.71 on Friday. Mid-America Apartment Communities Inc has a 12-month low of $91.21 and a 12-month high of $130.28. The firm has a market capitalization of $14.59 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 5.23 and a beta of 0.36. The business has a 50 day simple moving average of $124.04 and a 200 day simple moving average of $115.30. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.13 and a quick ratio of 0.13.
MAA has been the subject of a number of research reports. Barclays boosted their price target on Mid-America Apartment Communities from $127.00 to $133.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. KeyCorp boosted their price objective on Mid-America Apartment Communities from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Scotiabank cut Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and cut their price target for the stock from $114.00 to $107.00 in a research note on Tuesday, July 9th. SunTrust Banks boosted their price target on Mid-America Apartment Communities to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada boosted their price target on Mid-America Apartment Communities from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $116.54.
In other news, Director David P. Stockert sold 2,047 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $120.84, for a total transaction of $247,359.48. Following the completion of the sale, the director now owns 65,240 shares in the company, valued at approximately $7,883,601.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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