OneDigital Investment Advisors LLC bought a new stake in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,219 shares of the real estate investment trust’s stock, valued at approximately $725,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Mid-America Apartment Communities by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,821 shares of the real estate investment trust’s stock worth $2,149,000 after acquiring an additional 620 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Mid-America Apartment Communities by 47.6% during the second quarter. EverSource Wealth Advisors LLC now owns 927 shares of the real estate investment trust’s stock worth $137,000 after purchasing an additional 299 shares during the period. Baird Financial Group Inc. raised its stake in Mid-America Apartment Communities by 7.1% during the second quarter. Baird Financial Group Inc. now owns 6,595 shares of the real estate investment trust’s stock worth $976,000 after purchasing an additional 437 shares during the period. Walleye Capital LLC acquired a new position in shares of Mid-America Apartment Communities in the 2nd quarter valued at $230,000. Finally, Bank of Nova Scotia grew its stake in shares of Mid-America Apartment Communities by 21.7% during the 2nd quarter. Bank of Nova Scotia now owns 15,538 shares of the real estate investment trust’s stock valued at $2,300,000 after buying an additional 2,771 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.
Mid-America Apartment Communities Stock Performance
NYSE:MAA opened at $130.41 on Wednesday. The firm’s fifty day simple moving average is $135.31 and its 200 day simple moving average is $131.57. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.02. Mid-America Apartment Communities, Inc. has a twelve month low of $120.30 and a twelve month high of $146.41. The firm has a market capitalization of $15.13 billion, a price-to-earnings ratio of 38.13 and a beta of 0.73.
Insider Activity
In related news, Director Tamara D. Fischer bought 1,100 shares of the stock in a transaction dated Thursday, May 21st. The stock was acquired at an average price of $128.55 per share, for a total transaction of $141,405.00. Following the completion of the purchase, the director owned 1,100 shares in the company, valued at $141,405. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.
Analyst Ratings Changes
MAA has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on Mid-America Apartment Communities from $140.00 to $148.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. started coverage on Mid-America Apartment Communities in a research report on Thursday, July 16th. They set a “neutral” rating and a $147.00 price target for the company. Weiss Ratings upgraded Mid-America Apartment Communities from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 20th. Jefferies Financial Group upgraded Mid-America Apartment Communities to a “hold” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $144.81.
Check Out Our Latest Research Report on MAA
About Mid-America Apartment Communities
Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.
MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.
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