JPMorgan Chase & Co. Buys 708,125 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

JPMorgan Chase & Co. increased its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 26.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,344,862 shares of the real estate investment trust's stock after acquiring an additional 708,125 shares during the period. JPMorgan Chase & Co. owned approximately 2.86% of Mid-America Apartment Communities worth $517,015,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Y Intercept Hong Kong Ltd acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $2,890,000. Metis Global Partners LLC boosted 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 buying an additional 1,499 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Mid-America Apartment Communities by 2.4% in 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 buying an additional 4,301 shares during the last quarter. Paradigm Asset Management Co. LLC increased its holdings in shares of Mid-America Apartment Communities by 1,582.9% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 6,698 shares of the real estate investment trust's stock valued at $1,035,000 after buying an additional 6,300 shares in the last quarter. Finally, Capital Investment Advisors LLC lifted its position in shares of Mid-America Apartment Communities by 27.1% during the 4th quarter. Capital Investment Advisors LLC now owns 58,484 shares of the real estate investment trust's stock valued at $9,040,000 after acquiring an additional 12,454 shares during the last quarter. 93.60% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Ratings Changes

A number of brokerages recently issued reports on MAA. Scotiabank upgraded Mid-America Apartment Communities from a "sector perform" rating to a "sector outperform" rating and lifted their target price for the stock from $173.00 to $182.00 in a report on Friday, February 14th. Mizuho dropped their price target on Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating on the stock in a research note on Monday, January 6th. BMO Capital Markets reduced their price objective on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating for the company in a research note on Tuesday, January 21st. JMP Securities reissued a "market outperform" rating and issued a $160.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, February 11th. Finally, StockNews.com downgraded shares of Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research report on Saturday, March 29th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities presently has a consensus rating of "Moderate Buy" and a consensus price target of $168.90.

Mid-America Apartment Communities Stock Down 1.1 %

Shares of NYSE MAA traded down $1.90 during trading hours on Thursday, hitting $166.10. The stock had a trading volume of 127,709 shares, compared to its average volume of 765,980. The firm's 50-day moving average price is $160.71 and its two-hundred day moving average price is $157.63. Mid-America Apartment Communities, Inc. has a 52 week low of $123.73 and a 52 week high of $173.38. The company has a market capitalization of $19.42 billion, a P/E ratio of 37.08, a P/E/G ratio of 3.72 and a beta of 0.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its quarterly 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%. Analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.515 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.06 annualized dividend and a yield of 3.65%. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 135.27%.

Mid-America Apartment Communities 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.