Mid-America Apartment Communities Inc (NYSE:MAA) EVP Robert J. Delpriore sold 289 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 transaction of $38,194.24. Following the transaction, the executive vice president now owns 43,946 shares of the company’s stock, valued at $5,807,903.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of NYSE:MAA opened at $132.06 on Thursday. 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 fifty day moving average of $131.87 and a 200 day moving average of $129.02. The firm has a market capitalization of $15.03 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 5.16 and a beta of 0.29. 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 (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 consensus estimate of $1.55 by ($0.87). Mid-America Apartment Communities had a return on equity of 3.84% and a net margin of 16.25%. The company had revenue of $415.63 million during the quarter, compared to analysts’ expectations of $411.16 million. During the same quarter last year, the firm posted $1.50 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts forecast that Mid-America Apartment Communities Inc will post 6.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, January 14th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.96. This represents a $4.00 annualized dividend and a yield of 3.03%. Mid-America Apartment Communities’s payout ratio is 66.23%.
MAA has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a “buy” rating and set a $135.00 price target on shares of Mid-America Apartment Communities in a research report on Wednesday, December 18th. Capital One Financial upgraded shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a research report on Monday, November 4th. Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a research report on Friday, November 8th. They set a “neutral” rating and a $149.00 price target for the company. Mizuho lowered shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and reduced their price target for the company from $145.00 to $140.00 in a research report on Wednesday. Finally, KeyCorp boosted their price target on shares of Mid-America Apartment Communities from $131.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Mid-America Apartment Communities has a consensus rating of “Buy” and an average price target of $129.73.
A number of large investors have recently made changes to their positions in MAA. Nuveen Asset Management LLC grew its position in Mid-America Apartment Communities by 333.6% in the second quarter. Nuveen Asset Management LLC now owns 822,353 shares of the real estate investment trust’s stock worth $96,841,000 after acquiring an additional 632,686 shares in the last quarter. Vanguard Group Inc. lifted its stake in Mid-America Apartment Communities by 1.9% in the second quarter. Vanguard Group Inc. now owns 18,881,481 shares of the real estate investment trust’s stock worth $2,223,484,000 after purchasing an additional 346,064 shares during the last quarter. Millennium Management LLC lifted its stake in Mid-America Apartment Communities by 120.4% in the third quarter. Millennium Management LLC now owns 417,974 shares of the real estate investment trust’s stock worth $54,340,000 after purchasing an additional 228,331 shares during the last quarter. Barings LLC lifted its stake in Mid-America Apartment Communities by 44.6% in the second quarter. Barings LLC now owns 600,434 shares of the real estate investment trust’s stock worth $70,707,000 after purchasing an additional 185,081 shares during the last quarter. Finally, Sabal Trust CO bought a new stake in Mid-America Apartment Communities in the third quarter worth $21,726,000. Institutional investors own 92.84% of the company’s stock.
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.
Recommended Story: What is the float in trading stocks?
Receive News & Ratings for Mid-America Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.