Mid-America Apartment Communities Inc (NYSE:MAA) COO Sells $37,533.44 in Stock

Mid-America Apartment Communities Inc (NYSE:MAA) COO Thomas L. Grimes, Jr. sold 284 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $132.16, for a total value of $37,533.44. Following the transaction, the chief operating officer now directly owns 67,546 shares of the company’s stock, valued at $8,926,879.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

MAA stock traded down $2.32 during trading on Tuesday, hitting $131.21. 13,714 shares of the company’s stock were exchanged, compared to its average volume of 482,378. The business has a 50-day moving average price of $132.00 and a two-hundred day moving average price of $128.87. The stock has a market capitalization of $15.10 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 5.18 and a beta of 0.29. Mid-America Apartment Communities Inc has a 52-week low of $95.80 and a 52-week high of $140.15. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.72.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.87). The business had revenue of $415.63 million for the quarter, compared to analysts’ expectations of $411.16 million. Mid-America Apartment Communities had a return on equity of 3.84% and a net margin of 16.25%. Mid-America Apartment Communities’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.50 EPS. On average, equities research analysts anticipate 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. Investors of record on Wednesday, January 15th will be paid a dividend of $1.00 per share. This is a boost 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 3.05%. Mid-America Apartment Communities’s payout ratio is presently 63.58%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC grew its stake in Mid-America Apartment Communities by 38.2% during the 3rd quarter. Parallel Advisors LLC now owns 264 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 73 shares in the last quarter. Meeder Asset Management Inc. grew its stake in 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 purchasing an additional 92 shares in the last quarter. Synovus Financial Corp grew its stake in Mid-America Apartment Communities by 0.6% during the 3rd quarter. Synovus Financial Corp now owns 16,740 shares of the real estate investment trust’s stock valued at $2,178,000 after purchasing an additional 93 shares in the last quarter. State of Michigan Retirement System grew its stake in Mid-America Apartment Communities by 0.4% during the 3rd quarter. State of Michigan Retirement System now owns 27,401 shares of the real estate investment trust’s stock valued at $3,562,000 after purchasing an additional 100 shares in the last quarter. Finally, CSat Investment Advisory L.P. grew its stake in Mid-America Apartment Communities by 73.2% during the 2nd quarter. CSat Investment Advisory L.P. now owns 395 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 167 shares in the last quarter. Institutional investors own 92.84% of the company’s stock.

A number of brokerages have recently commented on MAA. Capital One Financial raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 4th. Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research report on Friday, November 8th. They set a “neutral” rating and a $149.00 price objective for the company. Scotiabank raised Mid-America Apartment Communities from an “underperform” rating to a “sector perform” rating and set a $138.00 price objective for the company in a research report on Tuesday, November 26th. Barclays set a $141.00 price objective on Mid-America Apartment Communities and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Mizuho boosted their target price on Mid-America Apartment Communities from $132.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $130.18.

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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