BTR Capital Management Inc. increased its position in shares of Mid-America Apartment Communities Inc. (NYSE:MAA) by 414.9% during the third quarter, Holdings Channel reports. The firm owned 69,057 shares of the real estate investment trust’s stock after buying an additional 55,645 shares during the period. BTR Capital Management Inc.’s holdings in Mid-America Apartment Communities were worth $6,491,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Mid-America Apartment Communities by 172.0% in the second quarter. JPMorgan Chase & Co. now owns 2,261,154 shares of the real estate investment trust’s stock worth $240,586,000 after buying an additional 1,429,879 shares during the period. NN Investment Partners Holdings N.V. raised its stake in Mid-America Apartment Communities by 1,481.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 478,541 shares of the real estate investment trust’s stock valued at $50,918,000 after buying an additional 448,279 shares during the last quarter. Vanguard Group Inc. raised its stake in Mid-America Apartment Communities by 3.0% in the second quarter. Vanguard Group Inc. now owns 11,555,159 shares of the real estate investment trust’s stock valued at $1,229,468,000 after buying an additional 337,159 shares during the last quarter. Janus Capital Management LLC raised its stake in Mid-America Apartment Communities by 327.6% in the second quarter. Janus Capital Management LLC now owns 389,370 shares of the real estate investment trust’s stock valued at $41,429,000 after buying an additional 298,300 shares during the last quarter. Finally, WBI Investments Inc. acquired a new stake in Mid-America Apartment Communities during the second quarter valued at approximately $30,161,000. 98.05% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Mid-America Apartment Communities (NYSE:MAA)

Mid-America Apartment Communities Inc. (NYSE:MAA) traded up 1.89% during mid-day trading on Tuesday, reaching $94.00. 1,163,961 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $91.22 and its 200 day moving average is $97.57. Mid-America Apartment Communities Inc. has a 1-year low of $82.91 and a 1-year high of $110.01. The stock has a market capitalization of $7.10 billion, a PE ratio of 32.87 and a beta of 0.33.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Thursday, October 27th. The real estate investment trust reported $1.49 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.49. The business had revenue of $276.90 million for the quarter, compared to the consensus estimate of $275.82 million. Mid-America Apartment Communities had a net margin of 19.96% and a return on equity of 6.87%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.38 earnings per share. Analysts forecast that Mid-America Apartment Communities Inc. will post $5.92 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Friday, October 14th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Wednesday, October 12th. Mid-America Apartment Communities’s payout ratio is 115.49%.

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MAA has been the topic of several recent research reports. BTIG Research initiated coverage on shares of Mid-America Apartment Communities in a report on Thursday, August 25th. They issued a “neutral” rating on the stock. Jefferies Group lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating and lowered their target price for the stock from $115.00 to $109.00 in a research note on Wednesday, August 10th. SunTrust Banks Inc. raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, August 19th. Citigroup Inc. increased their target price on shares of Mid-America Apartment Communities from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Finally, JMP Securities raised shares of Mid-America Apartment Communities from a “market perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Thursday, October 20th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $106.42.

Mid-America Apartment Communities Company Profile

5 Day Chart for NYSE:MAA

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