Mid-America Apartment Communities, Inc. (NYSE:MAA) CEO Sells $333,076.94 in Stock

Mid-America Apartment Communities, Inc. (NYSE:MAA) CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mid-America Apartment Communities Stock Up 0.2 %

Shares of NYSE MAA opened at $127.10 on Friday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $14.84 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 4.06 and a beta of 0.80. The stock’s fifty day simple moving average is $128.53 and its two-hundred day simple moving average is $128.73. Mid-America Apartment Communities, Inc. has a 12-month low of $115.56 and a 12-month high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The company had revenue of $542.25 million for the quarter, compared to the consensus estimate of $542.64 million. During the same period last year, the business posted $2.32 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. As a group, analysts expect that Mid-America Apartment Communities, Inc. will post 8.94 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $1.47 dividend. The ex-dividend date is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a yield of 4.63%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 124.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MAA shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Truist Financial upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and lifted their price target for the company from $154.00 to $158.00 in a research report on Tuesday, January 16th. Jefferies Financial Group restated a “hold” rating and set a $136.00 price target (down from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on Mid-America Apartment Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $139.00 price target on the stock. Finally, The Goldman Sachs Group restated a “buy” rating and set a $149.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and an average target price of $143.76.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAA. Norges Bank purchased a new position in Mid-America Apartment Communities in the 4th quarter worth $713,500,000. JPMorgan Chase & Co. raised its stake in shares of Mid-America Apartment Communities by 41.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,251,030 shares of the real estate investment trust’s stock valued at $491,036,000 after buying an additional 956,154 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Mid-America Apartment Communities by 188.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,451,578 shares of the real estate investment trust’s stock valued at $195,179,000 after buying an additional 949,171 shares during the last quarter. Morgan Stanley raised its stake in shares of Mid-America Apartment Communities by 63.3% during the 4th quarter. Morgan Stanley now owns 2,208,337 shares of the real estate investment trust’s stock valued at $346,687,000 after buying an additional 856,331 shares during the last quarter. Finally, Blackstone Inc. raised its stake in shares of Mid-America Apartment Communities by 51.8% during the 3rd quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock valued at $262,943,000 after buying an additional 697,200 shares during the last quarter. Hedge funds and other institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.