Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report) EVP Timothy Argo sold 94 shares of the company's stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total value of $15,626.56. Following the transaction, the executive vice president now directly owns 17,740 shares in the company, valued at approximately $2,949,097.60. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Mid-America Apartment Communities Stock Down 2.7 %
MAA opened at $163.51 on Friday. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of 36.50, a price-to-earnings-growth ratio of 3.72 and a beta of 0.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. The firm's fifty day moving average is $161.04 and its 200 day moving average is $157.67. Mid-America Apartment Communities, Inc. has a fifty-two week low of $123.73 and a fifty-two week high of $173.38.
Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a return on equity of 8.53% and a net margin of 24.03%. On average, sell-side analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.
Mid-America Apartment Communities Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be issued a dividend of $1.515 per share. This represents a $6.06 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend is Tuesday, April 15th. Mid-America Apartment Communities's dividend payout ratio (DPR) is currently 135.27%.
Hedge Funds Weigh In On Mid-America Apartment Communities
Several hedge funds have recently modified their holdings of MAA. State Street Corp increased its holdings in Mid-America Apartment Communities by 0.9% in the 3rd quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust's stock valued at $1,228,569,000 after acquiring an additional 65,696 shares during the last quarter. Capital World Investors grew its position in shares of Mid-America Apartment Communities by 45.9% during the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust's stock valued at $1,025,868,000 after purchasing an additional 2,088,143 shares in the last quarter. Norges Bank bought a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth about $826,562,000. JPMorgan Chase & Co. lifted its position in shares of Mid-America Apartment Communities by 26.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust's stock worth $517,015,000 after buying an additional 708,125 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Mid-America Apartment Communities by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust's stock valued at $492,421,000 after buying an additional 52,050 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company's stock.
Wall Street Analyst Weigh In
MAA has been the topic of several research analyst reports. Truist Financial upped their target price on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the company a "buy" rating in a research note on Monday, March 10th. Royal Bank of Canada increased their price objective on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the company a "sector perform" rating in a research report on Friday, February 7th. Mizuho cut their target price on shares of Mid-America Apartment Communities from $163.00 to $159.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Barclays lifted their price objective on Mid-America Apartment Communities from $152.00 to $163.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets lowered their target price on Mid-America Apartment Communities from $157.00 to $155.00 and set a "market perform" rating on the stock in a report on Tuesday, January 21st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $168.90.
Get Our Latest Analysis on MAA
About Mid-America Apartment Communities
(
Get Free Report)
Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.
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