Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report) EVP Timothy Argo sold 97 shares of Mid-America Apartment Communities stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $126.86, for a total transaction of $12,305.42. Following the transaction, the executive vice president now owns 15,659 shares of the company's stock, valued at approximately $1,986,500.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Mid-America Apartment Communities Price Performance
MAA opened at $128.45 on Thursday. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.72. Mid-America Apartment Communities, Inc. has a 52-week low of $115.56 and a 52-week high of $158.46. The company has a 50 day moving average of $128.71 and a two-hundred day moving average of $128.86. The company has a market cap of $14.99 billion, a P/E ratio of 27.27, a P/E/G ratio of 4.08 and a beta of 0.80.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.93). The firm had revenue of $542.25 million during the quarter, compared to analysts' expectations of $542.64 million. Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. Mid-America Apartment Communities's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.32 earnings per share. On average, analysts expect that Mid-America Apartment Communities, Inc. will post 8.95 earnings per share for the current year.
Mid-America Apartment Communities Dividend Announcement
Biden out June 13; Kamala won’t replace him?
From Paradigm Press | Ad
On November 16, 2023…
Joe Biden accidentally revealed the name of the candidate…
Who will replace him in the 2024 presidential election.
See who it is HERE.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities's payout ratio is 124.84%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in MAA. First United Bank & Trust bought a new position in shares of Mid-America Apartment Communities in the 4th quarter worth about $27,000. Cullen Frost Bankers Inc. bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter worth about $35,000. ST Germain D J Co. Inc. bought a new position in shares of Mid-America Apartment Communities in the 2nd quarter worth about $36,000. First Financial Corp IN lifted its position in shares of Mid-America Apartment Communities by 40.8% in the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust's stock worth $40,000 after buying an additional 86 shares during the last quarter. Finally, CVA Family Office LLC bought a new position in shares of Mid-America Apartment Communities in the 4th quarter worth about $40,000. 93.60% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have issued reports on MAA shares. Jefferies Financial Group restated a "hold" rating and set a $136.00 target price (down previously from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Truist Financial raised shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and boosted their price objective for the company from $154.00 to $158.00 in a research report on Tuesday, January 16th. Royal Bank of Canada reissued a "sector perform" rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, January 30th. They issued a "hold" rating and a $139.00 price objective for the company. Finally, Mizuho cut their price objective on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a "neutral" rating for the company in a research report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities currently has an average rating of "Hold" and a consensus target price of $143.76.
View Our Latest Stock Report on Mid-America Apartment Communities
Mid-America Apartment Communities Company Profile
(
Get Free Report)
MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
