Wealthfront Advisers LLC Trims Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wealthfront Advisers LLC trimmed its holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 37.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,352 shares of the real estate investment trust’s stock after selling 3,724 shares during the period. Wealthfront Advisers LLC’s holdings in Mid-America Apartment Communities were worth $982,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MAA. Y Intercept Hong Kong Ltd purchased a new position in Mid-America Apartment Communities during the third quarter worth about $2,890,000. Metis Global Partners LLC raised its holdings in Mid-America Apartment Communities by 9.5% during the fourth quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust’s stock worth $2,670,000 after purchasing an additional 1,499 shares in the last quarter. Swedbank AB raised its holdings in Mid-America Apartment Communities by 2.6% during the third quarter. Swedbank AB now owns 203,587 shares of the real estate investment trust’s stock worth $32,350,000 after purchasing an additional 5,178 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Mid-America Apartment Communities by 2.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust’s stock worth $28,711,000 after purchasing an additional 4,301 shares in the last quarter. Finally, Eagle Asset Management Inc. purchased a new position in Mid-America Apartment Communities during the third quarter worth about $4,304,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

Mid-America Apartment Communities Stock Performance

MAA stock opened at $163.32 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $19.09 billion, a price-to-earnings ratio of 36.46, a P/E/G ratio of 3.72 and a beta of 0.90. Mid-America Apartment Communities, Inc. has a 12 month low of $123.73 and a 12 month high of $173.38. The firm has a 50 day moving average of $156.86 and a two-hundred day moving average of $157.47.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 EPS for the quarter, topping the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. As a group, equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Morgan Stanley raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $159.50 to $168.00 in a report on Friday, January 24th. Royal Bank of Canada increased their target price on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. Barclays increased their target price on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the company an “equal weight” rating in a report on Wednesday, February 19th. Truist Financial increased their target price on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a report on Monday, March 10th. Finally, Wells Fargo & Company dropped their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $168.43.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.