Van ECK Associates Corp Sells 315 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Van ECK Associates Corp trimmed its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,001 shares of the real estate investment trust’s stock after selling 315 shares during the quarter. Van ECK Associates Corp’s holdings in Mid-America Apartment Communities were worth $6,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of MAA. DecisionPoint Financial LLC bought a new position in shares of Mid-America Apartment Communities in the 1st quarter worth about $26,000. EdgeRock Capital LLC bought a new position in shares of Mid-America Apartment Communities in the 2nd quarter worth about $26,000. First United Bank & Trust purchased a new stake in Mid-America Apartment Communities during the 4th quarter valued at about $27,000. Mather Group LLC. purchased a new stake in Mid-America Apartment Communities during the 1st quarter valued at about $32,000. Finally, Versant Capital Management Inc grew its position in Mid-America Apartment Communities by 3,071.4% during the 2nd quarter. Versant Capital Management Inc now owns 222 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 215 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Stock Performance

MAA opened at $162.37 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. The company has a market cap of $18.97 billion, a price-to-earnings ratio of 34.04, a PEG ratio of 3.61 and a beta of 0.85. The company’s 50 day moving average is $147.36 and its 200 day moving average is $137.45. Mid-America Apartment Communities, Inc. has a 12-month low of $115.56 and a 12-month high of $162.61.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MAA. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and increased their price objective for the company from $144.00 to $189.00 in a research report on Monday, August 12th. Piper Sandler increased their price objective on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Truist Financial increased their price objective on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Morgan Stanley increased their price objective on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an “equal weight” rating in a research report on Wednesday, May 15th. Finally, Royal Bank of Canada increased their price objective on shares of Mid-America Apartment Communities from $145.00 to $148.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of “Hold” and a consensus price target of $154.66.

Mid-America Apartment Communities Company 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.