Mid-America Apartment Communities Inc (NYSE:MAA) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 1,540,000 shares, a growth of 9.2% from the August 30th total of 1,410,000 shares. Based on an average trading volume of 534,000 shares, the short-interest ratio is currently 2.9 days. Approximately 1.4% of the shares of the stock are sold short.
Several research firms have recently issued reports on MAA. SunTrust Banks increased their price objective on shares of Mid-America Apartment Communities to $130.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Barclays set a $141.00 price objective on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a report on Friday, October 11th. Capital One Financial restated an “equal weight” rating on shares of Mid-America Apartment Communities in a report on Monday, September 16th. ValuEngine cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Scotiabank downgraded shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and reduced their price target for the company from $114.00 to $107.00 in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $118.29.
Shares of NYSE:MAA opened at $133.42 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $15.03 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 5.36 and a beta of 0.33. Mid-America Apartment Communities has a 52 week low of $91.21 and a 52 week high of $134.17. The firm has a 50 day simple moving average of $129.58 and a 200 day simple moving average of $119.47.
In other news, Director David P. Stockert sold 2,047 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $120.84, for a total value of $247,359.48. Following the completion of the transaction, the director now directly owns 65,240 shares in the company, valued at $7,883,601.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. First Financial Corp IN purchased a new stake in shares of Mid-America Apartment Communities in the 3rd quarter valued at approximately $27,000. Johnson Financial Group Inc. purchased a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at approximately $29,000. JJJ Advisors Inc. purchased a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at approximately $31,000. Massmutual Trust Co. FSB ADV lifted its position in shares of Mid-America Apartment Communities by 193.3% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 305 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 201 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in Mid-America Apartment Communities in the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 92.89% of the company’s stock.
Mid-America Apartment Communities Company Profile
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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