Edgestream Partners L.P. Buys 31,679 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Edgestream Partners L.P. increased its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 155.5% in the second quarter, Holdings Channel.com reports. The fund owned 52,050 shares of the real estate investment trust’s stock after purchasing an additional 31,679 shares during the period. Edgestream Partners L.P.’s holdings in Mid-America Apartment Communities were worth $7,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Menard Financial Group LLC lifted its stake in Mid-America Apartment Communities by 23.8% in the 2nd quarter. Menard Financial Group LLC now owns 2,434 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 468 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Mid-America Apartment Communities by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,716,628 shares of the real estate investment trust’s stock worth $244,803,000 after purchasing an additional 97,672 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Mid-America Apartment Communities by 17.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,633,160 shares of the real estate investment trust’s stock worth $375,515,000 after buying an additional 393,067 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Mid-America Apartment Communities by 549.5% during the second quarter. Brown Brothers Harriman & Co. now owns 5,975 shares of the real estate investment trust’s stock valued at $852,000 after buying an additional 5,055 shares during the last quarter. Finally, Prosperity Consulting Group LLC purchased a new position in Mid-America Apartment Communities during the 2nd quarter valued at approximately $2,572,000. Institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Up 0.3 %

Mid-America Apartment Communities stock opened at $166.65 on Tuesday. Mid-America Apartment Communities, Inc. has a 1-year low of $115.56 and a 1-year high of $167.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. The stock has a market capitalization of $19.47 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 3.66 and a beta of 0.88. The business has a fifty day moving average price of $151.42 and a 200-day moving average price of $139.75.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Scotiabank upped their price objective on Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a report on Monday. UBS Group upped their price target on shares of Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research note on Thursday, July 18th. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Finally, Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and increased their price target for the company from $144.00 to $189.00 in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $159.91.

Mid-America Apartment Communities Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.