3,881 Shares in Mid-America Apartment Communities Inc (MAA) Purchased by Verition Fund Management LLC

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Verition Fund Management LLC bought a new position in shares of Mid-America Apartment Communities Inc (NYSE:MAA) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 3,881 shares of the real estate investment trust’s stock, valued at approximately $354,000.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of Mid-America Apartment Communities by 64.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,848,217 shares of the real estate investment trust’s stock valued at $442,351,000 after acquiring an additional 1,906,796 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Mid-America Apartment Communities by 1.7% in the 4th quarter. Alliancebernstein L.P. now owns 3,109,252 shares of the real estate investment trust’s stock valued at $312,666,000 after acquiring an additional 50,626 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in shares of Mid-America Apartment Communities by 31.3% in the 1st quarter. OppenheimerFunds Inc. now owns 2,451,735 shares of the real estate investment trust’s stock valued at $223,698,000 after acquiring an additional 584,929 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Mid-America Apartment Communities by 2.5% in the 1st quarter. Northern Trust Corp now owns 1,880,697 shares of the real estate investment trust’s stock valued at $171,596,000 after acquiring an additional 46,341 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Mid-America Apartment Communities by 3.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,743,118 shares of the real estate investment trust’s stock valued at $159,041,000 after acquiring an additional 57,791 shares in the last quarter. Hedge funds and other institutional investors own 91.63% of the company’s stock.

Shares of NYSE:MAA opened at $99.89 on Thursday. Mid-America Apartment Communities Inc has a 52-week low of $85.16 and a 52-week high of $110.24. The stock has a market capitalization of $11.38 billion, a P/E ratio of 16.90, a PEG ratio of 2.39 and a beta of 0.35. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.21 and a quick ratio of 0.21.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.46 by ($1.04). The firm had revenue of $386.01 million during the quarter, compared to analyst estimates of $384.42 million. Mid-America Apartment Communities had a net margin of 21.72% and a return on equity of 5.10%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $1.46 earnings per share. sell-side analysts expect that Mid-America Apartment Communities Inc will post 5.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Shareholders of record on Friday, July 13th will be given a dividend of $0.9225 per share. The ex-dividend date is Thursday, July 12th. This represents a $3.69 annualized dividend and a yield of 3.69%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 62.12%.

Several brokerages have recently weighed in on MAA. ValuEngine upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Wednesday. SunTrust Banks raised their price objective on Mid-America Apartment Communities to $102.00 and gave the company a “buy” rating in a report on Wednesday. BTIG Research cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating in a report on Thursday, May 31st. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. Finally, Barclays reiterated a “buy” rating and issued a $112.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, April 17th. Nine investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $104.62.

In related news, insider H Eric Bolton, Jr. acquired 1,130 shares of the business’s stock in a transaction on Friday, May 18th. The stock was purchased at an average cost of $88.39 per share, for a total transaction of $99,880.70. Following the completion of the transaction, the insider now directly owns 220,643 shares of the company’s stock, valued at approximately $19,502,634.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director William Reid Sanders acquired 2,800 shares of the business’s stock in a transaction on Monday, May 21st. The shares were bought at an average price of $87.92 per share, with a total value of $246,176.00. Following the completion of the transaction, the director now directly owns 15,109 shares of the company’s stock, valued at $1,328,383.28. The disclosure for this purchase can be found here. Company insiders own 1.26% of the company’s stock.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities throughout the United States. As of March 31, 2018, MAA had ownership interest in 100,490 apartment units, including communities currently in development, across 17 states and the District of Columbia.

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

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