ING Groep NV Purchases New Stake in Mid-America Apartment Communities, Inc. (MAA)

ING Groep NV purchased a new position in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) during the fourth quarter, Holdings Channel reports. The fund purchased 6,532 shares of the real estate investment trust’s stock, valued at approximately $631,000.

A number of other large investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Mid-America Apartment Communities by 41.4% in the third quarter. JPMorgan Chase & Co. now owns 3,196,899 shares of the real estate investment trust’s stock worth $300,477,000 after buying an additional 935,745 shares during the period. BlackRock Inc. boosted its stake in Mid-America Apartment Communities by 4.3% in the third quarter. BlackRock Inc. now owns 215,584 shares of the real estate investment trust’s stock worth $20,263,000 after buying an additional 8,977 shares during the period. Principal Financial Group Inc. boosted its stake in Mid-America Apartment Communities by 26.6% in the third quarter. Principal Financial Group Inc. now owns 464,608 shares of the real estate investment trust’s stock worth $43,668,000 after buying an additional 97,759 shares during the period. California State Teachers Retirement System boosted its stake in Mid-America Apartment Communities by 0.9% in the third quarter. California State Teachers Retirement System now owns 165,306 shares of the real estate investment trust’s stock worth $15,537,000 after buying an additional 1,400 shares during the period. Finally, BTC Capital Management Inc. boosted its stake in Mid-America Apartment Communities by 49.8% in the third quarter. BTC Capital Management Inc. now owns 21,276 shares of the real estate investment trust’s stock worth $2,001,000 after buying an additional 7,070 shares during the period. Institutional investors own 97.98% of the company’s stock.

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

Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) opened at 98.79 on Wednesday. Mid-America Apartment Communities, Inc. has a 52-week low of $85.04 and a 52-week high of $110.01. The firm has a 50-day moving average price of $96.80 and a 200-day moving average price of $94.52. The stock has a market cap of $11.21 billion, a P/E ratio of 36.72 and a beta of 0.29.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, February 1st. The real estate investment trust reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.01. The business had revenue of $307.20 million for the quarter, compared to analysts’ expectations of $302.58 million. Mid-America Apartment Communities had a return on equity of 6.14% and a net margin of 18.83%. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.45 EPS. On average, analysts anticipate that Mid-America Apartment Communities, Inc. will post $2.11 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Friday, January 13th were issued a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Wednesday, January 11th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.82. Mid-America Apartment Communities’s dividend payout ratio is 128.41%.

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MAA has been the subject of a number of research analyst reports. Zacks Investment Research cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Friday, October 21st. Cantor Fitzgerald set a $107.00 price objective on Mid-America Apartment Communities and gave the stock a “buy” rating in a research note on Tuesday, December 6th. JMP Securities upgraded Mid-America Apartment Communities from a “market perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a research note on Thursday, October 20th. They noted that the move was a valuation call. Robert W. Baird upgraded Mid-America Apartment Communities from a “neutral” rating to an “outperform” rating and set a $100.00 price objective for the company in a research note on Friday, December 2nd. Finally, Jefferies Group LLC upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their price objective for the stock from $109.00 to $113.00 in a research note on Thursday, October 20th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $106.07.

About Mid-America Apartment Communities

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Want to see what other hedge funds are holding MAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mid-America Apartment Communities, Inc. (NYSE:MAA).

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