Van ECK Associates Corp Has $6.99 Million Stock Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Van ECK Associates Corp reduced its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the 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 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MAA. Rothschild Investment LLC bought a new stake in shares of Mid-America Apartment Communities in the 2nd quarter valued at $583,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Mid-America Apartment Communities by 3.7% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 34,878 shares of the real estate investment trust’s stock valued at $4,974,000 after purchasing an additional 1,253 shares in the last quarter. iA Global Asset Management Inc. acquired a new position in shares of Mid-America Apartment Communities during the second quarter valued at about $258,000. Crossmark Global Holdings Inc. boosted its position in shares of Mid-America Apartment Communities by 5.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 5,717 shares of the real estate investment trust’s stock worth $815,000 after purchasing an additional 274 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Mid-America Apartment Communities by 1.3% in the 2nd quarter. Principal Financial Group Inc. now owns 139,291 shares of the real estate investment trust’s stock valued at $19,864,000 after buying an additional 1,815 shares during the period. 93.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MAA. Wedbush upped their price target on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Truist Financial increased their target price on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Royal Bank of Canada boosted their price target on shares of Mid-America Apartment Communities from $145.00 to $148.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Bank of America raised shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and raised their price objective for the company from $144.00 to $189.00 in a research note on Monday, August 12th. Finally, Mizuho boosted their target price on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $154.66.

Mid-America Apartment Communities Stock Up 0.8 %

Shares of NYSE:MAA opened at $162.37 on Tuesday. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $162.61. The company has a market capitalization of $18.97 billion, a PE ratio of 34.04, a price-to-earnings-growth ratio of 3.61 and a beta of 0.85. The business has a fifty day moving average price of $147.36 and a two-hundred day moving average price of $137.45. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12.

About Mid-America Apartment Communities

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.