Herr Investment Group LLC Buys Shares of 18,919 Mid-America Apartment Communities, Inc. (NYSE:MAA)

Herr Investment Group LLC purchased a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 18,919 shares of the real estate investment trust’s stock, valued at approximately $2,698,000.

Several other institutional investors and hedge funds also recently modified their holdings of MAA. Balyasny Asset Management L.P. lifted its holdings in Mid-America Apartment Communities by 96.9% in 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. lifted its stake in shares of Mid-America Apartment Communities by 103.1% in the 4th quarter. 1832 Asset Management L.P. now owns 1,030,038 shares of the real estate investment trust’s stock worth $138,499,000 after acquiring an additional 522,851 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Mid-America Apartment Communities by 17.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock valued at $375,515,000 after acquiring an additional 393,067 shares in the last quarter. 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 acquiring an additional 342,335 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Mid-America Apartment Communities by 176.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 339,081 shares of the real estate investment trust’s stock worth $48,356,000 after purchasing an additional 216,610 shares in the last quarter. Institutional investors own 93.60% of the company’s stock.

Wall Street Analyst Weigh In

MAA has been the subject of a number of research reports. BNP Paribas started coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price target for the company. UBS Group raised their target price on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research note on Thursday, July 18th. Truist Financial boosted their price target on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their price objective for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Finally, Janney Montgomery Scott upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Thursday, June 13th. One 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 company. According to data from MarketBeat.com, 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 NYSE:MAA opened at $164.51 on Friday. The company’s fifty day moving average is $152.95 and its two-hundred day moving average is $140.46. The company has a market cap of $19.22 billion, a P/E ratio of 34.49, 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. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76.

About Mid-America Apartment Communities

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.