Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report) EVP Adrian Hill acquired 844 shares of the stock in a transaction dated Friday, October 30th. The shares were purchased at an average price of $118.35 per share, for a total transaction of $99,887.40. Following the completion of the transaction, the executive vice president owned 65,277 shares of the company's stock, valued at $7,725,532.95. This trade represents a 1.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Mid-America Apartment Communities Stock Performance
Shares of NYSE MAA opened at $117.18 on Wednesday. The firm has a market capitalization of $13.59 billion, a price-to-earnings ratio of 35.51 and a beta of 0.71. Mid-America Apartment Communities, Inc. has a one year low of $113.95 and a one year high of $144.41. The business has a fifty day simple moving average of $120.81 and a 200 day simple moving average of $129.00. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.08.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $2.10 by ($1.38). Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. The business had revenue of $560.13 million for the quarter, compared to analyst estimates of $558.07 million. During the same quarter in the prior year, the firm earned $2.16 EPS. The firm's quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts expect that Mid-America Apartment Communities, Inc. will post 8.50 EPS for the current year.
Mid-America Apartment Communities Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were paid a $1.53 dividend. The ex-dividend date was Thursday, October 15th. This represents a $6.12 dividend on an annualized basis and a dividend yield of 5.2%. Mid-America Apartment Communities's dividend payout ratio is currently 185.45%.
Institutional Trading of Mid-America Apartment Communities
Several institutional investors have recently bought and sold shares of MAA. Amundi raised its stake in Mid-America Apartment Communities by 31.0% during the second quarter. Amundi now owns 677,443 shares of the real estate investment trust's stock worth $94,124,000 after acquiring an additional 160,210 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Mid-America Apartment Communities by 19.9% during the second quarter. Hsbc Holdings PLC now owns 527,345 shares of the real estate investment trust's stock valued at $73,371,000 after acquiring an additional 87,523 shares during the period. BlackRock Inc. bought a new position in shares of Mid-America Apartment Communities during the second quarter valued at $1,820,661,000. The Manufacturers Life Insurance Company bought a new position in shares of Mid-America Apartment Communities during the second quarter valued at $9,258,000. Finally, Squarepoint Ops LLC boosted its stake in shares of Mid-America Apartment Communities by 73.2% in the 2nd quarter. Squarepoint Ops LLC now owns 84,017 shares of the real estate investment trust's stock valued at $11,673,000 after purchasing an additional 35,522 shares in the last quarter. Institutional investors and hedge funds own 93.60% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently weighed in on the stock. KeyCorp reiterated an "overweight" rating on shares of Mid-America Apartment Communities in a research report on Tuesday, September 29th. BNP Paribas Exane raised shares of Mid-America Apartment Communities from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Weiss Ratings lowered shares of Mid-America Apartment Communities from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, October 8th. Scotiabank dropped their price target on shares of Mid-America Apartment Communities from $134.00 to $125.00 and set a "sector underperform" rating for the company in a research report on Thursday, September 17th. Finally, Wall Street Zen cut shares of Mid-America Apartment Communities from a "hold" rating to a "sell" rating in a research note on Sunday, October 25th. Eight investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $138.06.
Check Out Our Latest Research Report on MAA
Mid-America Apartment Communities Company Profile
(
Get Free Report)
Mid-America Apartment Communities, Inc (NYSE: MAA) is a real estate investment trust that owns, operates and develops multifamily apartment communities. Its portfolio is focused primarily on conventional apartment housing, with properties offering a range of floor plans and amenities designed for individual renters, couples and families.
MAA concentrates its operations in high-growth markets across the Sun Belt, including communities in the Southeast, Southwest and Mid-Atlantic regions of the United States.
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