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 firm’s stock in a transaction dated Friday, October 30th. The stock was purchased at an average price of $118.35 per share, for a total transaction of $99,887.40. Following the transaction, the executive vice president owned 65,277 shares of the company’s stock, valued at approximately $7,725,532.95. This represents a 1.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA traded down $1.16 during mid-day trading on Tuesday, reaching $117.18. The company’s stock had a trading volume of 1,079,779 shares, compared to its average volume of 1,011,381. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a 50-day moving average of $121.12 and a two-hundred day moving average of $129.09. The stock has a market capitalization of $13.60 billion, a P/E ratio of 35.51 and a beta of 0.75. Mid-America Apartment Communities, Inc. has a 1-year low of $113.95 and a 1-year high of $144.41.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported $0.72 EPS for the quarter, missing the consensus estimate of $2.10 by ($1.38). The company had revenue of $560.13 million during the quarter, compared to analyst estimates of $558.07 million. Mid-America Apartment Communities had a net margin of 17.43% and a return on equity of 6.80%. Mid-America Apartment Communities’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 EPS. On average, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.51 EPS for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 15th were issued a $1.53 dividend. This represents a $6.12 annualized dividend and a yield of 5.2%. The ex-dividend date was Thursday, October 15th. Mid-America Apartment Communities’s payout ratio is 185.45%.

Institutional Trading of Mid-America Apartment Communities

Institutional investors and hedge funds have recently made changes to their positions in the company. Pictet Asset Management Holding SA grew its stake in Mid-America Apartment Communities by 0.4% during the third quarter. Pictet Asset Management Holding SA now owns 50,206 shares of the real estate investment trust’s stock worth $5,911,000 after buying an additional 222 shares during the period. Alps Advisors Inc. increased its holdings in shares of 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 acquiring an additional 260 shares during the last quarter. Calamos Advisors LLC grew its holdings in shares of Mid-America Apartment Communities by 2.1% during the third quarter. Calamos Advisors LLC now owns 58,128 shares of the real estate investment trust’s stock valued at $6,844,000 after purchasing an additional 1,176 shares during the last quarter. Legacy Financial Independent Advisors LLC grew its position in shares of Mid-America Apartment Communities by 1.0% during the third quarter. Legacy Financial Independent Advisors LLC now owns 32,485 shares of the real estate investment trust’s stock worth $3,825,000 after acquiring an additional 326 shares during the last quarter. Finally, Telos Capital Management Inc. boosted its position in shares of Mid-America Apartment Communities by 0.8% during the third quarter. Telos Capital Management Inc. now owns 13,758 shares of the real estate investment trust’s stock worth $1,620,000 after buying an additional 103 shares during the period. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on MAA. Wall Street Zen downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Sunday, October 25th. UBS Group dropped their price objective on Mid-America Apartment Communities from $129.00 to $123.00 and set a “neutral” rating on the stock in a report on Wednesday, October 14th. Citigroup restated a “market outperform” rating on shares of Mid-America Apartment Communities in a research report on Friday. The Goldman Sachs Group dropped their target price on Mid-America Apartment Communities from $142.00 to $125.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 21st. Finally, Truist Financial decreased their price target on Mid-America Apartment Communities from $146.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, September 17th. Eight research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price 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.