Mid-America Apartment Communities (NYSE:MAA) Stock: Insider Adrian Hill Buys 844 Shares

Mid-America Apartment Communities, Inc. (NYSE:MAA) EVP Adrian Hill bought 844 shares of the stock in a transaction on Friday, October 30th. The shares were acquired at an average cost of $118.35 per share, for a total transaction of $99,887.40. Following the completion of the transaction, the executive vice president directly owned 65,277 shares of the company’s stock, valued at approximately $7,725,532.95. The trade was a 1.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mid-America Apartment Communities Trading Up 4.1%

Shares of NYSE MAA opened at $122.15 on Thursday. Mid-America Apartment Communities, Inc. has a twelve month low of $113.95 and a twelve month high of $144.41. The stock has a market cap of $14.17 billion, a price-to-earnings ratio of 37.01 and a beta of 0.71. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.08. The company’s fifty day moving average is $120.61 and its 200-day moving average is $128.93.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.38). The company had revenue of $560.13 million for the quarter, compared to the consensus estimate of $558.07 million. Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.16 EPS. Equities research analysts predict that Mid-America Apartment Communities, Inc. will post 8.50 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 15th were paid a dividend of $1.53 per share. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $6.12 annualized dividend and a yield of 5.0%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 185.45%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MAA. Keybank National Association OH boosted its position in Mid-America Apartment Communities by 1.8% during the third quarter. Keybank National Association OH now owns 4,970 shares of the real estate investment trust’s stock valued at $585,000 after purchasing an additional 88 shares during the last quarter. Fulcrum Asset Management LLP boosted its position in Mid-America Apartment Communities by 558.3% during the third quarter. Fulcrum Asset Management LLP now owns 2,291 shares of the real estate investment trust’s stock valued at $271,000 after acquiring an additional 1,943 shares during the last quarter. Carnegie Lake Advisors LLC grew its stake in shares of Mid-America Apartment Communities by 10.9% in the 3rd quarter. Carnegie Lake Advisors LLC now owns 5,546 shares of the real estate investment trust’s stock valued at $653,000 after buying an additional 546 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of Mid-America Apartment Communities by 0.4% in the third quarter. Pictet Asset Management Holding SA now owns 50,206 shares of the real estate investment trust’s stock valued at $5,911,000 after purchasing an additional 222 shares in the last quarter. Finally, Alps Advisors Inc. grew its stake in Mid-America Apartment Communities by 3.8% in the 3rd quarter. Alps Advisors Inc. now owns 7,098 shares of the real estate investment trust’s stock valued at $836,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MAA. Wells Fargo & Company cut their price objective on Mid-America Apartment Communities from $146.00 to $131.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Weiss Ratings cut Mid-America Apartment Communities from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. Jefferies Financial Group raised Mid-America Apartment Communities to a “hold” rating in a research note on Wednesday, July 22nd. KeyCorp reaffirmed an “overweight” rating on shares of Mid-America Apartment Communities in a research note on Tuesday, September 29th. Finally, Barclays cut their target price on Mid-America Apartment Communities from $146.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 14th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $138.06.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc (NYSE: MAA) is a real estate investment trust that owns, operates and develops multifamily apartment communities. Its portfolio is focused primarily on conventional apartment housing, with properties offering a range of floor plans and amenities designed for individual renters, couples and families.

MAA concentrates its operations in high-growth markets across the Sun Belt, including communities in the Southeast, Southwest and Mid-Atlantic regions of the United States.