UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) by 15,892.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,221,025 shares of the real estate investment trust’s stock after purchasing an additional 1,213,390 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Mid-America Apartment Communities were worth $169,649,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in MAA. BlackRock Inc. purchased a new position in Mid-America Apartment Communities in the 2nd quarter valued at approximately $1,820,661,000. State Street Corp increased its position in shares of Mid-America Apartment Communities by 1.6% during the third quarter. State Street Corp now owns 8,119,375 shares of the real estate investment trust’s stock worth $1,134,520,000 after acquiring an additional 125,130 shares during the period. Norges Bank purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter worth $750,603,000. Viking Global Investors LP increased its position in shares of Mid-America Apartment Communities by 46.7% during the fourth quarter. Viking Global Investors LP now owns 3,880,048 shares of the real estate investment trust’s stock worth $538,977,000 after acquiring an additional 1,234,966 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Mid-America Apartment Communities by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 3,423,986 shares of the real estate investment trust’s stock valued at $473,977,000 after acquiring an additional 40,028 shares in the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.
Mid-America Apartment Communities Trading Up 0.3%
Shares of Mid-America Apartment Communities stock opened at $129.26 on Wednesday. Mid-America Apartment Communities, Inc. has a 12-month low of $120.30 and a 12-month high of $146.41. The stock has a market cap of $15.00 billion, a PE ratio of 37.80 and a beta of 0.73. The company has a 50-day moving average of $134.38 and a two-hundred day moving average of $131.37. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.02.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on MAA shares. Jefferies Financial Group raised Mid-America Apartment Communities to a “hold” rating in a research note on Wednesday, July 22nd. Mizuho lifted their price objective on Mid-America Apartment Communities from $148.00 to $152.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Cantor Fitzgerald reissued a “neutral” rating on shares of Mid-America Apartment Communities in a research report on Thursday, August 27th. Morgan Stanley cut their target price on shares of 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, JPMorgan Chase & Co. assumed coverage on shares of Mid-America Apartment Communities in a report on Thursday, July 16th. They issued a “neutral” rating and a $147.00 target price on the stock. 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 currently has a consensus rating of “Hold” and an average target price of $144.69.
Get Our Latest Stock Analysis on Mid-America Apartment Communities
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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