Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 26.9% during the 4th quarter, HoldingsChannel reports. The firm owned 3,344,862 shares of the real estate investment trust’s stock after acquiring an additional 708,125 shares during the quarter. JPMorgan Chase & Co.’s holdings in Mid-America Apartment Communities were worth $517,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new position in Mid-America Apartment Communities during the 3rd quarter worth approximately $2,890,000. Metis Global Partners LLC increased its stake in Mid-America Apartment Communities by 9.5% during the 4th 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 during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Mid-America Apartment Communities by 2.4% in the 3rd 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 in the last quarter. Paradigm Asset Management Co. LLC boosted its position in Mid-America Apartment Communities by 1,582.9% in the 4th 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 during the last quarter. Finally, Capital Investment Advisors LLC grew its stake in shares of Mid-America Apartment Communities by 27.1% during the fourth 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 in the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $165.93 on Friday. Mid-America Apartment Communities, Inc. has a 12-month low of $123.73 and a 12-month high of $173.38. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The company has a market cap of $19.40 billion, a PE ratio of 37.04, a P/E/G ratio of 3.72 and a beta of 0.90. The stock has a 50 day simple moving average of $159.61 and a 200-day simple moving average of $157.57.

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

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 135.27%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada boosted their price target on Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. StockNews.com cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Saturday. Barclays lifted their price target on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 19th. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the company from $173.00 to $182.00 in a research note on Friday, February 14th. 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 research report on Friday, January 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities presently has an average rating of “Moderate Buy” and an average target price of $168.90.

About Mid-America Apartment Communities

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.