Verition Fund Management LLC Invests $354,000 in Mid-America Apartment Communities Inc (MAA)

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MAA. JPMorgan Chase & Co. raised its position in shares of Mid-America Apartment Communities by 64.8% in the first quarter. JPMorgan Chase & Co. now owns 4,848,217 shares of the real estate investment trust’s stock valued at $442,351,000 after buying an additional 1,906,796 shares in the last quarter. OppenheimerFunds Inc. raised its position in shares of Mid-America Apartment Communities by 31.3% in the first quarter. OppenheimerFunds Inc. now owns 2,451,735 shares of the real estate investment trust’s stock valued at $223,698,000 after buying an additional 584,929 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Mid-America Apartment Communities by 42.2% in the first quarter. Diamond Hill Capital Management Inc. now owns 744,890 shares of the real estate investment trust’s stock valued at $67,964,000 after buying an additional 221,119 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of Mid-America Apartment Communities by 192.5% in the first quarter. Allianz Asset Management GmbH now owns 330,505 shares of the real estate investment trust’s stock valued at $30,156,000 after buying an additional 217,525 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $17,103,000. Institutional investors own 91.63% of the company’s stock.

A number of research analysts recently issued reports on the stock. ValuEngine raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Wednesday. SunTrust Banks lifted their price objective on shares of Mid-America Apartment Communities to $102.00 and gave the company a “buy” rating in a research note on Wednesday. BTIG Research cut shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating in a research note on Thursday, May 31st. Zacks Investment Research raised shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. Finally, Barclays reissued a “buy” rating and issued a $112.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, April 17th. Nine research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $104.62.

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

Mid-America Apartment Communities opened at $99.89 on Thursday, according to Marketbeat. The firm has a market cap of $11.38 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 2.39 and a beta of 0.35. Mid-America Apartment Communities Inc has a fifty-two week low of $85.16 and a fifty-two week high of $110.24. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.69.

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

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

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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