State of Tennessee Treasury Department increased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,064 shares of the real estate investment trust’s stock after purchasing an additional 20 shares during the period. State of Tennessee Treasury Department’s holdings in Mid-America Apartment Communities were worth $3,274,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. grew its position in Mid-America Apartment Communities by 32.9% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 382 shares during the last quarter. Commerce Bank bought a new position in Mid-America Apartment Communities in the second quarter valued at about $223,000. Commerzbank Aktiengesellschaft FI bought a new position in Mid-America Apartment Communities in the first quarter valued at about $217,000. BB&T Securities LLC bought a new position in Mid-America Apartment Communities in the second quarter valued at about $237,000. Finally, MAI Capital Management bought a new position in Mid-America Apartment Communities in the second quarter valued at about $247,000. Institutional investors own 91.83% of the company’s stock.

Shares of Mid-America Apartment Communities, Inc. (MAA) opened at 106.98 on Friday. Mid-America Apartment Communities, Inc. has a 12-month low of $85.04 and a 12-month high of $110.95. The stock’s 50 day moving average price is $105.86 and its 200 day moving average price is $103.15. The company has a market capitalization of $12.15 billion, a PE ratio of 49.46 and a beta of 0.35.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.03. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. The business had revenue of $382.80 million for the quarter, compared to analyst estimates of $382.17 million. During the same period last year, the company earned $1.54 EPS. Mid-America Apartment Communities’s revenue for the quarter was up 40.6% compared to the same quarter last year. On average, equities research analysts forecast that Mid-America Apartment Communities, Inc. will post $1.68 earnings per share for the current year.

In related news, Director David P. Stockert sold 6,872 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total transaction of $730,768.48. Following the transaction, the director now directly owns 77,180 shares in the company, valued at approximately $8,207,321.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.25% of the stock is owned by company insiders.

A number of research analysts have issued reports on the company. BidaskClub upgraded Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. UBS AG cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 target price on the stock. in a research report on Thursday, July 6th. Royal Bank Of Canada reiterated a “buy” rating and issued a $112.00 target price on shares of Mid-America Apartment Communities in a research report on Wednesday, August 9th. ValuEngine upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $120.00 target price on shares of Mid-America Apartment Communities in a research report on Sunday, September 10th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Mid-America Apartment Communities presently has an average rating of “Buy” and an average price target of $109.75.

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Mid-America Apartment Communities Profile

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.

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Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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