Public Employees Retirement System of Ohio purchased a new position in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 170,230 shares of the real estate investment trust’s stock, valued at approximately $23,652,000.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Values First Advisors Inc. boosted its stake in Mid-America Apartment Communities by 0.5% during the 1st quarter. Values First Advisors Inc. now owns 15,472 shares of the real estate investment trust’s stock valued at $1,889,000 after acquiring an additional 82 shares during the last quarter. New Mexico Educational Retirement Board lifted its position in shares of Mid-America Apartment Communities by 1.9% during the fourth quarter. New Mexico Educational Retirement Board now owns 5,400 shares of the real estate investment trust’s stock worth $750,000 after purchasing an additional 100 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Mid-America Apartment Communities by 1.5% during the fourth quarter. Larson Financial Group LLC now owns 7,008 shares of the real estate investment trust’s stock worth $974,000 after purchasing an additional 102 shares during the last quarter. World Investment Advisors grew its stake in Mid-America Apartment Communities by 5.3% in the first quarter. World Investment Advisors now owns 2,174 shares of the real estate investment trust’s stock worth $265,000 after purchasing an additional 110 shares in the last quarter. Finally, Hurley Capital LLC grew its stake in Mid-America Apartment Communities by 70.4% in the fourth quarter. Hurley Capital LLC now owns 271 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 112 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.
Mid-America Apartment Communities Stock Up 0.7%
Shares of Mid-America Apartment Communities stock opened at $129.63 on Friday. The stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of 37.90 and a beta of 0.73. Mid-America Apartment Communities, Inc. has a twelve month low of $120.30 and a twelve month high of $146.41. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.02. The business’s 50 day simple moving average is $134.55 and its 200-day simple moving average is $131.49.
Analysts Set New Price Targets
Several analysts have issued reports on 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. Mizuho boosted their price target on Mid-America Apartment Communities from $148.00 to $152.00 and gave the company an “outperform” rating in a report on Wednesday, June 10th. Jefferies Financial Group raised Mid-America Apartment Communities to a “hold” rating in a research report on Wednesday, July 22nd. Morgan Stanley reduced their price objective on Mid-America Apartment Communities from $155.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 12th. Finally, Truist Financial boosted their target price on shares of Mid-America Apartment Communities from $136.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $144.81.
Mid-America Apartment Communities Company Profile
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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