Riverhead Capital Management LLC increased its holdings in Mid-America Apartment Communities Inc (NYSE:MAA) by 34.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,850 shares of the real estate investment trust’s stock after acquiring an additional 1,750 shares during the quarter. Riverhead Capital Management LLC’s holdings in Mid-America Apartment Communities were worth $807,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Barings LLC bought a new stake in shares of Mid-America Apartment Communities in the 1st quarter valued at about $45,411,000. Centersquare Investment Management LLC boosted its stake in shares of Mid-America Apartment Communities by 157,752.2% during the second quarter. Centersquare Investment Management LLC now owns 353,589 shares of the real estate investment trust’s stock valued at $41,639,000 after purchasing an additional 353,365 shares in the last quarter. Ceredex Value Advisors LLC increased its holdings in Mid-America Apartment Communities by 91.0% during the first quarter. Ceredex Value Advisors LLC now owns 653,161 shares of the real estate investment trust’s stock valued at $71,410,000 after buying an additional 311,212 shares during the period. FMR LLC increased its holdings in Mid-America Apartment Communities by 28.2% during the first quarter. FMR LLC now owns 1,352,227 shares of the real estate investment trust’s stock valued at $147,839,000 after buying an additional 297,563 shares during the period. Finally, Hexavest Inc. purchased a new position in Mid-America Apartment Communities during the second quarter valued at approximately $24,133,000. 93.01% of the stock is owned by institutional investors.
In other news, Director David P. Stockert sold 2,047 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $120.84, for a total transaction of $247,359.48. Following the completion of the sale, the director now owns 65,240 shares in the company, valued at approximately $7,883,601.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.
NYSE MAA traded down $0.26 on Wednesday, hitting $127.68. The stock had a trading volume of 9,654 shares, compared to its average volume of 455,939. The business’s fifty day moving average price is $123.85 and its 200 day moving average price is $115.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.13 and a quick ratio of 0.13. Mid-America Apartment Communities Inc has a 52-week low of $91.21 and a 52-week high of $129.53. The stock has a market cap of $14.65 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 5.25 and a beta of 0.36.
MAA has been the subject of a number of analyst reports. Scotiabank lowered Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the stock from $114.00 to $107.00 in a report on Tuesday, July 9th. KeyCorp lifted their price target on Mid-America Apartment Communities from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Zacks Investment Research upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Tuesday, May 28th. Royal Bank of Canada boosted their price target on Mid-America Apartment Communities from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, May 20th. Finally, Barclays upped their price objective on Mid-America Apartment Communities from $127.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $116.54.
About Mid-America Apartment Communities
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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