Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report) CEO H Eric Bolton, Jr. sold 2,642 shares of the company's stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now directly owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Mid-America Apartment Communities Stock Up 0.2 %
Mid-America Apartment Communities stock opened at $127.10 on Friday. The firm has a 50 day moving average price of $128.53 and a 200-day moving average price of $128.79. 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 twelve month low of $115.56 and a twelve month high of $158.46. The company has a market capitalization of $14.84 billion, a P/E ratio of 26.99, a P/E/G ratio of 4.06 and a beta of 0.80.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The firm had revenue of $542.25 million during the quarter, compared to analysts' expectations of $542.64 million. During the same period in the prior year, the business earned $2.32 earnings per share. The business's quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.94 EPS for the current year.
Mid-America Apartment Communities Dividend Announcement
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Friday, April 12th. Mid-America Apartment Communities's payout ratio is 124.84%.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Scotiabank upgraded shares of Mid-America Apartment Communities from a "sector underperform" rating to a "sector perform" rating and upped their price objective for the stock from $133.00 to $147.00 in a report on Tuesday, January 16th. Jefferies Financial Group restated a "hold" rating and issued a $136.00 target price (down previously from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Truist Financial upgraded Mid-America Apartment Communities from a "hold" rating to a "buy" rating and lifted their price target for the company from $154.00 to $158.00 in a research note on Tuesday, January 16th. Mizuho decreased their price objective on Mid-America Apartment Communities from $132.00 to $126.00 and set a "neutral" rating for the company in a report on Wednesday, February 28th. Finally, Morgan Stanley raised their target price on Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an "equal weight" rating in a report on Monday, February 26th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Mid-America Apartment Communities presently has an average rating of "Hold" and a consensus target price of $143.76.
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Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of MAA. First United Bank & Trust purchased a new position in Mid-America Apartment Communities in the 4th quarter worth approximately $27,000. ST Germain D J Co. Inc. purchased a new position in shares of Mid-America Apartment Communities in the second quarter worth $36,000. Cullen Frost Bankers Inc. bought a new stake in Mid-America Apartment Communities during the 3rd quarter valued at $35,000. Quarry LP raised its holdings in Mid-America Apartment Communities by 186.5% during the 1st quarter. Quarry LP now owns 275 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 179 shares during the last quarter. Finally, CVA Family Office LLC purchased a new stake in Mid-America Apartment Communities during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 93.60% of the company's stock.
About Mid-America Apartment Communities
(
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.
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