Mid-America Apartment Communities Inc (NYSE:MAA) CEO H Eric Bolton, Jr. sold 285 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $132.16, for a total transaction of $37,665.60. Following the completion of the sale, the chief executive officer now directly owns 254,539 shares of the company’s stock, valued at approximately $33,639,874.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of MAA stock opened at $132.06 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap 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 50-day moving average of $131.87 and a two-hundred day moving average of $129.02. Mid-America Apartment Communities Inc has a 1-year low of $97.52 and a 1-year high of $140.15.
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 for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.87). The company 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%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $1.50 EPS. Sell-side analysts anticipate 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. Shareholders of record on Wednesday, January 15th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.03%. 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. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 66.23%.
A number of hedge funds have recently made changes to their positions in the business. Sabal Trust CO boosted its stake in Mid-America Apartment Communities by 1.7% during the fourth quarter. Sabal Trust CO now owns 169,949 shares of the real estate investment trust’s stock worth $22,410,000 after buying an additional 2,839 shares during the period. Patten Group Inc. purchased a new position in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $253,000. DNB Asset Management AS boosted its stake in shares of Mid-America Apartment Communities by 8.8% in the fourth quarter. DNB Asset Management AS now owns 12,400 shares of the real estate investment trust’s stock valued at $1,635,000 after purchasing an additional 1,006 shares during the period. Diversified Trust Co purchased a new position in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $216,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of Mid-America Apartment Communities by 27.7% in the fourth quarter. State of Alaska Department of Revenue now owns 91,466 shares of the real estate investment trust’s stock valued at $12,059,000 after purchasing an additional 19,833 shares during the period. 92.84% of the stock is owned by institutional investors.
MAA has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of Mid-America Apartment Communities from $131.00 to $138.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Barclays set a $141.00 price objective on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a report on Friday, October 11th. ValuEngine lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Scotiabank raised shares of Mid-America Apartment Communities from an “underperform” rating to a “sector perform” rating and set a $138.00 target price for the company in a research note on Tuesday, November 26th. Finally, Capital One Financial raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 4th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $129.73.
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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