Compass Wealth Management LLC bought a new position in Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 50,293 shares of the real estate investment trust’s stock, valued at approximately $6,988,000. Mid-America Apartment Communities comprises approximately 1.3% of Compass Wealth Management LLC’s portfolio, making the stock its 23rd largest position.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MAA. BlackRock Inc. acquired a new stake in shares of Mid-America Apartment Communities during the 2nd quarter worth approximately $1,820,661,000. Norges Bank acquired a new position in Mid-America Apartment Communities during the 4th quarter valued at approximately $750,603,000. Viking Global Investors LP bought a new position in Mid-America Apartment Communities during the 3rd quarter worth $369,597,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Mid-America Apartment Communities by 621.0% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,208,081 shares of the real estate investment trust’s stock worth $168,805,000 after buying an additional 1,040,525 shares during the last quarter. Finally, Millennium Management LLC increased its position in Mid-America Apartment Communities by 3,129.2% in the fourth quarter. Millennium Management LLC now owns 738,065 shares of the real estate investment trust’s stock worth $102,525,000 after buying an additional 715,209 shares during the period. 93.60% of the stock is currently owned by institutional investors and hedge funds.
Mid-America Apartment Communities Trading Down 0.5%
Shares of MAA stock opened at $130.41 on Wednesday. Mid-America Apartment Communities, Inc. has a 1 year low of $120.30 and a 1 year high of $146.41. The firm has a market capitalization of $15.13 billion, a PE ratio of 38.13 and a beta of 0.73. The stock has a fifty day moving average of $135.31 and a two-hundred day moving average of $131.57. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.09 and a current ratio of 0.09.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the company. Barclays cut their target price on Mid-America Apartment Communities from $147.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Monday. UBS Group dropped their price objective on shares of Mid-America Apartment Communities from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, May 14th. Wells Fargo & Company lifted their price objective on shares of Mid-America Apartment Communities from $140.00 to $148.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Scotiabank reduced their target price on shares of Mid-America Apartment Communities from $137.00 to $134.00 and set a “sector underperform” rating for the company in a research note on Tuesday, August 4th. Finally, Truist Financial upped their target price on shares of Mid-America Apartment Communities from $136.00 to $146.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Eight investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus price target of $144.81.
Get Our Latest Stock Report on Mid-America Apartment Communities
Insider Transactions at Mid-America Apartment Communities
In related news, Director Tamara D. Fischer bought 1,100 shares of the stock in a transaction on Thursday, May 21st. The shares were purchased at an average price of $128.55 per share, with a total value of $141,405.00. Following the purchase, the director owned 1,100 shares in the company, valued at approximately $141,405. This represents a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by corporate insiders.
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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