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

JPMorgan Chase & Co. grew its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 26.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,344,862 shares of the real estate investment trust’s stock after purchasing 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 reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in MAA. Y Intercept Hong Kong Ltd acquired a new stake in shares of Mid-America Apartment Communities in the third quarter valued at about $2,890,000. Metis Global Partners LLC boosted its stake in shares of 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 acquiring an additional 1,499 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of 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 acquiring an additional 4,301 shares during the period. Paradigm Asset Management Co. LLC increased its stake 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 purchasing an additional 6,300 shares in the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in 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 worth $9,040,000 after purchasing an additional 12,454 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Stock Up 0.4 %

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 stock’s 50-day moving average price is $159.61 and its two-hundred day moving average price is $157.57. 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 firm has a market cap of $19.40 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last released its 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 net margin of 24.03% and a return on equity of 8.53%. On average, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MAA. Royal Bank of Canada upped their target price on Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. JMP Securities restated a “market outperform” rating and set a $160.00 target price on shares of Mid-America Apartment Communities in a report on Tuesday, February 11th. Truist Financial upped their price target on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a “buy” rating in a report on Monday, March 10th. BMO Capital Markets dropped 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. Finally, StockNews.com lowered Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Saturday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.90.

Mid-America Apartment Communities Company 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.