Mid-America Apartment Communities, Inc. (NYSE:MAA) EVP Timothy Argo Sells 97 Shares of Stock

Mid-America Apartment Communities, Inc. (NYSE:MAA) EVP Timothy Argo sold 97 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $126.86, for a total transaction of $12,305.42. Following the transaction, the executive vice president now owns 15,659 shares in the company, valued at $1,986,500.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Mid-America Apartment Communities Trading Up 0.8 %

Shares of Mid-America Apartment Communities stock opened at $128.45 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a fifty day moving average price of $128.71 and a 200 day moving average price of $128.86. Mid-America Apartment Communities, Inc. has a 1 year low of $115.56 and a 1 year high of $158.46. The stock has a market cap of $14.99 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 4.08 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. The firm had revenue of $542.25 million during the quarter, compared to analyst estimates of $542.64 million. During the same quarter last year, the company posted $2.32 EPS. The company’s revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that Mid-America Apartment Communities, Inc. will post 8.95 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MAA shares. Piper Sandler reiterated a “neutral” rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Jefferies Financial Group reiterated a “hold” rating and set a $136.00 price objective (down from $140.00) on shares of Mid-America Apartment Communities in a research note on Tuesday, January 2nd. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and raised their target price for the company from $133.00 to $147.00 in a research note on Tuesday, January 16th. Morgan Stanley raised their target price on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Mizuho lowered their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $143.76.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MAA. First United Bank & Trust acquired a new stake in Mid-America Apartment Communities in the 4th quarter valued at about $27,000. Cullen Frost Bankers Inc. acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at about $35,000. ST Germain D J Co. Inc. acquired a new stake in Mid-America Apartment Communities in the 2nd quarter valued at about $36,000. First Financial Corp IN raised its holdings in Mid-America Apartment Communities by 40.8% in the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 86 shares during the last quarter. Finally, CVA Family Office LLC acquired a new stake in Mid-America Apartment Communities in the 4th quarter valued at about $40,000. 93.60% of the stock is owned by hedge funds and other institutional investors.

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.