JPMorgan Chase & Co. Has $418.98 Million Stake in Mid-America Apartment Communities, Inc. (NYSE:MAA)

JPMorgan Chase & Co. reduced its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 27.4% in the 3rd quarter, Holdings Channel reports. The firm owned 2,636,737 shares of the real estate investment trust’s stock after selling 994,305 shares during the quarter. JPMorgan Chase & Co.’s holdings in Mid-America Apartment Communities were worth $418,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Ashton Thomas Securities LLC bought a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth about $25,000. Activest Wealth Management bought a new position in Mid-America Apartment Communities during the third quarter worth about $32,000. Catalyst Capital Advisors LLC acquired a new stake in Mid-America Apartment Communities during the third quarter valued at approximately $37,000. UMB Bank n.a. grew its stake in shares of Mid-America Apartment Communities by 82.4% in the 2nd quarter. UMB Bank n.a. now owns 239 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 108 shares during the period. Finally, Quarry LP acquired a new position in shares of Mid-America Apartment Communities in the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Scotiabank decreased their price target on Mid-America Apartment Communities from $174.00 to $173.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. The Goldman Sachs Group assumed coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 4th. They issued a “buy” rating and a $187.00 target price on the stock. KeyCorp upgraded shares of Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a research report on Tuesday, December 17th. Barclays initiated coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, December 17th. They set an “equal weight” rating and a $166.00 price objective on the stock. Finally, StockNews.com cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $163.76.

Mid-America Apartment Communities Price Performance

Shares of MAA stock opened at $153.75 on Friday. The firm’s 50 day moving average price is $156.97 and its two-hundred day moving average price is $152.94. The stock has a market cap of $17.97 billion, a PE ratio of 34.71, a PEG ratio of 2.53 and a beta of 0.90. Mid-America Apartment Communities, Inc. has a 52-week low of $121.51 and a 52-week high of $167.39. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The company had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same quarter in the prior year, the business earned $2.29 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts forecast that Mid-America Apartment Communities, Inc. will post 8.88 EPS for the current year.

Mid-America Apartment Communities Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 3.94%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.47. The ex-dividend date is Wednesday, January 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 136.79%.

Mid-America Apartment Communities Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.