Mid-America Apartment Communities Inc (NYSE:MAA) CFO Albert M. Campbell III sold 256 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $132.16, for a total value of $33,832.96. Following the completion of the sale, the chief financial officer now directly owns 58,943 shares in the company, valued at approximately $7,789,906.88. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of MAA opened at $132.06 on Thursday. The stock has a fifty day moving average price of $131.87 and a two-hundred day moving average price of $129.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.08 and a current ratio of 0.08. Mid-America Apartment Communities Inc has a 52-week low of $97.52 and a 52-week high of $140.15. The company has a market cap of $15.03 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 5.16 and a beta of 0.29.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.87). Mid-America Apartment Communities had a net margin of 16.25% and a return on equity of 3.84%. The business had revenue of $415.63 million during the quarter, compared to the consensus estimate of $411.16 million. During the same quarter in the previous year, the firm posted $1.50 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. As a group, research analysts predict that Mid-America Apartment Communities Inc will post 6.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a $1.00 dividend. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $4.00 annualized dividend and a yield of 3.03%. Mid-America Apartment Communities’s payout ratio is presently 66.23%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Sabal Trust CO raised its position in Mid-America Apartment Communities by 1.7% in the 4th quarter. Sabal Trust CO now owns 169,949 shares of the real estate investment trust’s stock valued at $22,410,000 after purchasing an additional 2,839 shares during the last quarter. Patten Group Inc. bought a new position in Mid-America Apartment Communities in the 4th quarter valued at $253,000. DNB Asset Management AS raised its position in Mid-America Apartment Communities by 8.8% in the 4th quarter. DNB Asset Management AS now owns 12,400 shares of the real estate investment trust’s stock valued at $1,635,000 after purchasing an additional 1,006 shares during the last quarter. Diversified Trust Co bought a new position in Mid-America Apartment Communities in the 4th quarter valued at $216,000. Finally, State of Alaska Department of Revenue raised its position in Mid-America Apartment Communities by 27.7% in the 4th quarter. State of Alaska Department of Revenue now owns 91,466 shares of the real estate investment trust’s stock valued at $12,059,000 after purchasing an additional 19,833 shares during the last quarter. Hedge funds and other institutional investors own 92.84% of the company’s stock.
Several analysts recently commented on the company. Capital One Financial raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 4th. Mizuho lowered Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and decreased their price target for the company from $145.00 to $140.00 in a research note on Wednesday. Royal Bank of Canada reaffirmed a “buy” rating and issued a $135.00 price target on shares of Mid-America Apartment Communities in a research note on Wednesday, December 18th. Scotiabank raised Mid-America Apartment Communities from an “underperform” rating to a “sector perform” rating and set a $138.00 price target on the stock in a research note on Tuesday, November 26th. Finally, Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a research note on Friday, November 8th. They issued a “neutral” rating and a $149.00 price target on the stock. Six research analysts have rated the stock with a hold rating and seven 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 $129.73.
Mid-America Apartment Communities Company Profile
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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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