JPMorgan Chase & Co. boosted its stake in Mid-America Apartment Communities Inc (NYSE:MAA) by 64.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,848,217 shares of the real estate investment trust’s stock after buying an additional 1,906,796 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.26% of Mid-America Apartment Communities worth $442,351,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Natixis Advisors L.P. raised its position in Mid-America Apartment Communities by 71.4% in the 1st quarter. Natixis Advisors L.P. now owns 42,496 shares of the real estate investment trust’s stock valued at $3,878,000 after buying an additional 17,701 shares during the last quarter. Brinker Capital Inc. grew its stake in Mid-America Apartment Communities by 21.8% in the 1st quarter. Brinker Capital Inc. now owns 21,123 shares of the real estate investment trust’s stock valued at $1,927,000 after purchasing an additional 3,778 shares during the period. Toronto Dominion Bank grew its stake in Mid-America Apartment Communities by 25.1% in the 1st quarter. Toronto Dominion Bank now owns 61,250 shares of the real estate investment trust’s stock valued at $5,587,000 after purchasing an additional 12,285 shares during the period. Redwood Investment Management LLC bought a new position in Mid-America Apartment Communities in the 1st quarter valued at $241,000. Finally, Federated Investors Inc. PA grew its stake in Mid-America Apartment Communities by 3,870.2% in the 1st quarter. Federated Investors Inc. PA now owns 2,263 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 2,206 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.
In other news, Director William Reid Sanders purchased 2,800 shares of the business’s stock in a transaction dated Monday, May 21st. The stock was bought at an average price of $87.92 per share, for a total transaction of $246,176.00. Following the purchase, the director now owns 15,109 shares of the company’s stock, valued at $1,328,383.28. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider H Eric Bolton, Jr. purchased 1,130 shares of the business’s stock in a transaction dated Friday, May 18th. The shares were purchased at an average price of $88.39 per share, with a total value of $99,880.70. Following the purchase, the insider now directly owns 220,643 shares in the company, valued at approximately $19,502,634.77. The disclosure for this purchase can be found here. 1.26% of the stock is currently owned by corporate insiders.
Mid-America Apartment Communities opened at $91.54 on Friday, MarketBeat.com reports. The firm has a market cap of $10.34 billion, a PE ratio of 15.35, a PEG ratio of 2.17 and a beta of 0.34. Mid-America Apartment Communities Inc has a fifty-two week low of $85.16 and a fifty-two week high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.42 earnings per share for the quarter, missing the consensus estimate of $1.46 by ($1.04). The firm had revenue of $386.01 million for the quarter, compared to the consensus estimate of $384.42 million. Mid-America Apartment Communities had a return on equity of 5.10% and a net margin of 21.72%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.46 EPS. research analysts forecast that Mid-America Apartment Communities Inc will post 6 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, July 13th will be paid a dividend of $0.9225 per share. The ex-dividend date is Thursday, July 12th. This represents a $3.69 annualized dividend and a dividend yield of 4.03%. Mid-America Apartment Communities’s payout ratio is 62.12%.
A number of research analysts have issued reports on MAA shares. Robert W. Baird set a $100.00 price objective on Mid-America Apartment Communities and gave the company a “buy” rating in a research note on Friday, March 2nd. Barclays restated a “buy” rating and issued a $112.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, April 17th. DA Davidson set a $110.00 price objective on Mid-America Apartment Communities and gave the company a “buy” rating in a research note on Tuesday, January 30th. Zacks Investment Research upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. Finally, BMO Capital Markets set a $97.00 price objective on Mid-America Apartment Communities and gave the company a “hold” rating in a research note on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $104.62.
About Mid-America Apartment Communities
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 throughout the United States. As of March 31, 2018, MAA had ownership interest in 100,490 apartment units, including communities currently in development, across 17 states and the District of Columbia.
Receive News & Ratings for Mid-America Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.