Mid-America Apartment Communities, Inc. (NYSE:MAA) CEO Sells $724,473.92 in Stock

Mid-America Apartment Communities, Inc. (NYSE:MAA) CEO H Eric Bolton, Jr. sold 4,358 shares of the stock in a transaction on Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total transaction of $724,473.92. Following the completion of the sale, the chief executive officer now owns 324,171 shares of the company’s stock, valued at approximately $53,890,187.04. This represents a 1.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $153.15 on Friday. The business has a fifty day moving average price of $161.14 and a two-hundred day moving average price of $157.58. The stock has a market capitalization of $17.90 billion, a PE ratio of 34.18, a P/E/G ratio of 3.72 and a beta of 0.90. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08. 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) last posted its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. As a group, equities analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be paid a $1.515 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a yield of 3.96%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 135.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MAA shares. BMO Capital Markets cut their target price on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating for the company in a research note on Tuesday, January 21st. KeyCorp upgraded Mid-America Apartment Communities from a “sector weight” rating to an “overweight” rating and set a $180.00 target price for the company in a research note on Tuesday, December 17th. Wells Fargo & Company cut their price target on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Raymond James upped their price objective on shares of Mid-America Apartment Communities from $180.00 to $185.00 and gave the company a “strong-buy” rating in a report on Thursday, March 20th. Finally, JMP Securities restated a “market outperform” rating and set a $160.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $168.90.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at $826,562,000. Capital World Investors lifted its position in shares of Mid-America Apartment Communities by 45.9% during the 4th quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock worth $1,025,868,000 after buying an additional 2,088,143 shares during the last quarter. Deutsche Bank AG boosted its stake in Mid-America Apartment Communities by 312.6% in the fourth quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust’s stock valued at $189,507,000 after buying an additional 928,851 shares in the last quarter. JPMorgan Chase & Co. grew its position in 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 valued at $517,015,000 after acquiring an additional 708,125 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Mid-America Apartment Communities during the fourth quarter worth about $95,671,000. 93.60% of the stock is currently owned by institutional investors.

Mid-America Apartment Communities Company Profile

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.