Timothy Argo Sells 94 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) Stock

Mid-America Apartment Communities, Inc. (NYSE:MAA) EVP Timothy Argo sold 94 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total transaction of $15,626.56. Following the completion of the transaction, the executive vice president now directly owns 17,740 shares in the company, valued at $2,949,097.60. The trade was a 0.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Mid-America Apartment Communities Trading Down 6.4 %

MAA opened at $153.15 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08. Mid-America Apartment Communities, Inc. has a one year low of $123.73 and a one year high of $173.38. The company has a market cap of $17.90 billion, a P/E ratio of 34.18, a PEG ratio of 3.72 and a beta of 0.90. The business’s 50-day simple moving average is $161.14 and its 200-day simple moving average is $157.58.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 research analysts expect that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

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

Institutional Trading of Mid-America Apartment Communities

A number of hedge funds and other institutional investors have recently made changes to their positions in MAA. State Street Corp grew its stake in Mid-America Apartment Communities by 0.9% during the 3rd quarter. State Street Corp now owns 7,731,712 shares of the real estate investment trust’s stock worth $1,228,569,000 after buying an additional 65,696 shares during the last quarter. Capital World Investors grew its position in shares of Mid-America Apartment Communities by 45.9% during the fourth quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock worth $1,025,868,000 after acquiring an additional 2,088,143 shares during the last quarter. Norges Bank acquired a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at $826,562,000. JPMorgan Chase & Co. raised its position in Mid-America Apartment Communities by 26.9% in the 4th quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock valued at $517,015,000 after purchasing an additional 708,125 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Mid-America Apartment Communities by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 3,193,188 shares of the real estate investment trust’s stock worth $492,421,000 after purchasing an additional 52,050 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MAA shares. Barclays boosted their price target on shares of Mid-America Apartment Communities from $152.00 to $163.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Evercore ISI upped their price target on Mid-America Apartment Communities from $155.00 to $159.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Morgan Stanley raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $159.50 to $168.00 in a research note on Friday, January 24th. Jefferies Financial Group raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and increased their target price for the stock from $148.00 to $190.00 in a research note on Monday, March 10th. Finally, Wells Fargo & Company dropped their target price on Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $168.90.

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.