1832 Asset Management L.P. Raises Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

1832 Asset Management L.P. grew its holdings in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,140,287 shares of the real estate investment trust’s stock after purchasing an additional 74,936 shares during the quarter. 1832 Asset Management L.P.’s holdings in Mid-America Apartment Communities were worth $162,616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA raised its stake in Mid-America Apartment Communities by 17.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after acquiring an additional 393,067 shares during the last quarter. Blackstone Inc. raised its stake in Mid-America Apartment Communities by 1.0% in the 4th quarter. Blackstone Inc. now owns 2,063,861 shares of the real estate investment trust’s stock worth $277,507,000 after acquiring an additional 20,000 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Mid-America Apartment Communities by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock worth $244,803,000 after acquiring an additional 97,672 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Mid-America Apartment Communities by 2.8% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,644,322 shares of the real estate investment trust’s stock worth $234,497,000 after acquiring an additional 44,621 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Mid-America Apartment Communities by 1.5% in the 1st 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 acquiring an additional 21,000 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Price Performance

NYSE:MAA opened at $162.46 on Friday. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week 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. The stock 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. The stock’s 50-day moving average price is $153.86 and its 200-day moving average price is $140.94.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MAA. The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price for the company. Royal Bank of Canada raised their target price on Mid-America Apartment Communities from $145.00 to $148.00 and gave the stock a “sector perform” rating in a research note on Friday, August 2nd. UBS Group raised their target price on Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a research note on Thursday, July 18th. Piper Sandler increased their price target 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. Finally, BNP Paribas initiated coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to 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 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.