Wells Fargo & Company MN grew its holdings in Mid-America Apartment Communities Inc (NYSE:MAA) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,444,611 shares of the real estate investment trust’s stock after purchasing an additional 95,097 shares during the quarter. Wells Fargo & Company MN owned 1.27% of Mid-America Apartment Communities worth $145,270,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. grew its position in Mid-America Apartment Communities by 246.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,758,223 shares of the real estate investment trust’s stock valued at $277,366,000 after buying an additional 1,961,027 shares during the last quarter. Cohen & Steers Inc. boosted its position in shares of Mid-America Apartment Communities by 197.0% during the 3rd quarter. Cohen & Steers Inc. now owns 2,025,767 shares of the real estate investment trust’s stock worth $216,514,000 after purchasing an additional 1,343,626 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Mid-America Apartment Communities by 15.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,862,188 shares of the real estate investment trust’s stock worth $303,363,000 after purchasing an additional 391,336 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in shares of Mid-America Apartment Communities by 149.5% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 502,750 shares of the real estate investment trust’s stock worth $50,557,000 after buying an additional 301,250 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth $30,730,000. 94.79% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on MAA. Robert W. Baird set a $100.00 price target on Mid-America Apartment Communities and gave the stock a “buy” rating in a research note on Friday, March 2nd. Jefferies Group reaffirmed a “hold” rating and set a $99.00 price objective on shares of Mid-America Apartment Communities in a research note on Monday, February 5th. BMO Capital Markets set a $97.00 price objective on shares of Mid-America Apartment Communities and gave the company a “hold” rating in a research note on Friday, March 2nd. ValuEngine downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Barclays decreased their target price on Mid-America Apartment Communities from $113.00 to $112.00 and set an “overweight” rating for the company in a report on Tuesday, January 30th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $104.62.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.40). Mid-America Apartment Communities had a return on equity of 4.99% and a net margin of 21.42%. The business had revenue of $382.74 million during the quarter, compared to the consensus estimate of $386.33 million. research analysts predict that Mid-America Apartment Communities Inc will post 6.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, April 13th will be paid a dividend of $0.9225 per share. This represents a $3.69 annualized dividend and a yield of 4.12%. Mid-America Apartment Communities’s dividend payout ratio is currently 129.02%.
In related news, Director Claude B. Nielsen sold 7,200 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $86.44, for a total transaction of $622,368.00. Following the completion of the transaction, the director now owns 20,417 shares of the company’s stock, valued at $1,764,845.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Shorb purchased 500 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average price of $86.53 per share, with a total value of $43,265.00. Following the transaction, the director now directly owns 4,750 shares in the company, valued at $411,017.50. The disclosure for this purchase can be found here. Insiders have purchased 4,716 shares of company stock valued at $426,200 in the last ninety days. Company insiders own 1.25% of the company’s stock.
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About Mid-America Apartment Communities
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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