Mid-America Apartment Communities Inc (NYSE:MAA) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 1,541,200 shares, a decline of 5.8% from the July 31st total of 1,636,000 shares. Based on an average daily volume of 534,200 shares, the short-interest ratio is currently 2.9 days. Currently, 1.4% of the company’s stock are sold short.
Shares of NYSE:MAA traded up $0.81 during trading on Monday, reaching $127.77. 16,434 shares of the company traded hands, compared to its average volume of 422,018. The company’s 50 day moving average is $124.20 and its two-hundred day moving average is $115.41. The firm has a market capitalization of $14.67 billion, a PE ratio of 21.16, a PEG ratio of 5.25 and a beta of 0.36. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 0.72. Mid-America Apartment Communities has a 52 week low of $91.21 and a 52 week high of $130.28.
MAA has been the topic of a number of research reports. Barclays upped their price objective on Mid-America Apartment Communities from $127.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. KeyCorp upped their price objective 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. SunTrust Banks upped their price objective on Mid-America Apartment Communities to $130.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Zacks Investment Research raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Tuesday, May 28th. Finally, Scotiabank lowered Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and decreased their price objective for the company from $114.00 to $107.00 in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $116.54.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 2,047 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $120.84, for a total value of $247,359.48. Following the sale, the director now owns 65,240 shares in the company, valued at approximately $7,883,601.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Mid-America Apartment Communities by 1.9% in the second quarter. Vanguard Group Inc. now owns 18,881,481 shares of the real estate investment trust’s stock valued at $2,223,484,000 after buying an additional 346,064 shares during the period. Brookfield Asset Management Inc. grew its stake in Mid-America Apartment Communities by 7.6% in the second quarter. Brookfield Asset Management Inc. now owns 2,346,297 shares of the real estate investment trust’s stock valued at $276,300,000 after acquiring an additional 165,702 shares during the period. Geode Capital Management LLC grew its stake in Mid-America Apartment Communities by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 1,833,523 shares of the real estate investment trust’s stock valued at $175,217,000 after acquiring an additional 142,096 shares during the period. Northern Trust Corp grew its stake in Mid-America Apartment Communities by 5.5% in the second quarter. Northern Trust Corp now owns 1,713,518 shares of the real estate investment trust’s stock valued at $201,785,000 after acquiring an additional 89,273 shares during the period. Finally, Wells Fargo & Company MN grew its stake in Mid-America Apartment Communities by 1.9% in the second quarter. Wells Fargo & Company MN now owns 1,505,728 shares of the real estate investment trust’s stock valued at $177,315,000 after acquiring an additional 28,752 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.
Mid-America Apartment Communities Company Profile
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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