Mid-America Apartment Communities Inc (NYSE:MAA) COO Thomas L. Grimes, Jr. sold 284 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $132.16, for a total value of $37,533.44. Following the completion of the transaction, the chief operating officer now owns 67,546 shares of the company’s stock, valued at approximately $8,926,879.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of MAA opened at $132.06 on Thursday. The business’s 50 day moving average is $131.87 and its two-hundred day moving average is $129.02. Mid-America Apartment Communities Inc has a 52-week low of $97.52 and a 52-week high of $140.15. The firm 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. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.72.
Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ 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 analyst estimates of $411.16 million. During the same period in the previous year, the company earned $1.50 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, equities analysts expect that Mid-America Apartment Communities Inc will post 6.51 earnings per share for the current fiscal year.
The firm also recently announced 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 represents a $4.00 dividend on an annualized basis and a dividend yield of 3.03%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, January 14th. Mid-America Apartment Communities’s dividend payout ratio is presently 66.23%.
A number of equities analysts have weighed in on the company. ValuEngine cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Capital One Financial upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a report on Monday, November 4th. Barclays set a $141.00 target price on Mid-America Apartment Communities and gave the company a “buy” rating in a research report on Friday, October 11th. Mizuho lowered Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and cut their target price for the company from $145.00 to $140.00 in a research report on Wednesday. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $135.00 target price on shares of Mid-America Apartment Communities in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $129.73.
Institutional investors and hedge funds have recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Mid-America Apartment Communities by 4.4% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 573,461 shares of the real estate investment trust’s stock valued at $74,556,000 after purchasing an additional 24,400 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Mid-America Apartment Communities by 19.3% during the 3rd quarter. Meeder Asset Management Inc. now owns 568 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 92 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of Mid-America Apartment Communities during the 2nd quarter valued at approximately $266,000. California State Teachers Retirement System raised its position in shares of Mid-America Apartment Communities by 0.5% during the 3rd quarter. California State Teachers Retirement System now owns 185,624 shares of the real estate investment trust’s stock valued at $24,133,000 after acquiring an additional 938 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of Mid-America Apartment Communities by 4.6% during the 3rd quarter. Pictet Asset Management Ltd. now owns 75,776 shares of the real estate investment trust’s stock valued at $9,852,000 after acquiring an additional 3,300 shares in the last quarter. 92.84% of the stock is currently owned by institutional investors.
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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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