JPMorgan Chase & Co. Sells 584,729 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA)

Key Points

• JPMorgan Chase & Co. reduced its holdings in Mid-America Apartment Communities by 17.5%, selling 584,729 shares and retaining approximately 2.36% of the company valued at $462.5 million.
• Institutional investors make up around 93.60% of the company's ownership, with several large investors significantly increasing their stakes in the last quarters.
• The company's recent earnings report showed an EPS of $2.15 for the quarter, slightly surpassing analysts' consensus of $2.14, although revenue of $549.9 million fell short of expectations.

JPMorgan Chase & Co. trimmed its position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) by 17.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,760,133 shares of the real estate investment trust's stock after selling 584,729 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.36% of Mid-America Apartment Communities worth $462,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of MAA. Capital World Investors lifted its position in shares of Mid-America Apartment Communities by 45.9% during the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock worth $1,025,868,000 after purchasing an additional 2,088,143 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Mid-America Apartment Communities by 312.6% during the fourth quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust's stock worth $189,507,000 after purchasing an additional 928,851 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Mid-America Apartment Communities by 22,463.1% during the first quarter. GAMMA Investing LLC now owns 581,000 shares of the real estate investment trust's stock worth $97,364,000 after purchasing an additional 578,425 shares in the last quarter. Northern Trust Corp lifted its position in shares of Mid-America Apartment Communities by 33.3% during the fourth quarter. Northern Trust Corp now owns 1,863,408 shares of the real estate investment trust's stock worth $288,027,000 after purchasing an additional 465,414 shares in the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Mid-America Apartment Communities by 248.0% during the first quarter. Centersquare Investment Management LLC now owns 412,895 shares of the real estate investment trust's stock worth $69,193,000 after purchasing an additional 294,245 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MAA has been the topic of several analyst reports. Evercore ISI cut their price objective on shares of Mid-America Apartment Communities from $163.00 to $155.00 and set an "in-line" rating on the stock in a report on Monday, August 4th. JMP Securities increased their price objective on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a report on Thursday, May 22nd. Robert W. Baird increased their price objective on shares of Mid-America Apartment Communities from $161.00 to $162.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. UBS Group cut their price objective on shares of Mid-America Apartment Communities from $149.00 to $142.00 and set a "sell" rating on the stock in a report on Tuesday, July 15th. Finally, Raymond James Financial lowered shares of Mid-America Apartment Communities from an "outperform" rating to a "market perform" rating in a report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $166.95.

Mid-America Apartment Communities Trading Down 1.4%

Shares of NYSE:MAA opened at $138.52 on Tuesday. Mid-America Apartment Communities, Inc. has a 12 month low of $138.34 and a 12 month high of $173.38. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.83. The company's fifty day simple moving average is $148.59 and its 200 day simple moving average is $155.83. The firm has a market cap of $16.22 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 3.76 and a beta of 0.75.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.01. Mid-America Apartment Communities had a net margin of 25.98% and a return on equity of 9.35%. The business had revenue of $549.90 million for the quarter, compared to analyst estimates of $552.19 million. During the same period last year, the business posted $2.22 earnings per share. The firm's quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts forecast 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 disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were issued a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 124.69%.

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.

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