Insider Selling: Mid-America Apartment Communities, Inc. (NYSE:MAA) EVP Sells $15,626.56 in Stock

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

Mid-America Apartment Communities Stock Performance

NYSE MAA opened at $153.15 on Friday. The company has a market capitalization of $17.90 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 3.72 and a beta of 0.90. 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 52-week low of $123.73 and a 52-week high of $173.38. The company has a 50-day simple moving average of $161.14 and a 200 day simple moving average of $157.53.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) 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%. On average, research analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced 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 of this dividend is Tuesday, April 15th. This represents a $6.06 annualized dividend and a dividend yield of 3.96%. Mid-America Apartment Communities’s payout ratio is presently 135.27%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in Mid-America Apartment Communities by 436.8% in the 1st quarter. Versant Capital Management Inc now owns 1,283 shares of the real estate investment trust’s stock valued at $215,000 after acquiring an additional 1,044 shares during the period. Kera Capital Partners Inc. purchased a new position in shares of Mid-America Apartment Communities in the first quarter worth about $229,000. Wellington Management Group LLP raised its position in shares of Mid-America Apartment Communities by 106.6% in the fourth quarter. Wellington Management Group LLP now owns 94,153 shares of the real estate investment trust’s stock valued at $14,553,000 after purchasing an additional 48,574 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Mid-America Apartment Communities by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 60,605 shares of the real estate investment trust’s stock valued at $9,368,000 after buying an additional 428 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in Mid-America Apartment Communities in the 4th quarter worth approximately $290,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Jefferies Financial Group upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and boosted their price objective for the company from $148.00 to $190.00 in a report on Monday, March 10th. BMO Capital Markets lowered their price objective on shares of Mid-America Apartment Communities from $157.00 to $155.00 and set a “market perform” rating on the stock in a report on Tuesday, January 21st. Morgan Stanley raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $159.50 to $168.00 in a research note on Friday, January 24th. Truist Financial boosted their target price on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. Finally, Barclays lifted their price target on 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Moderate Buy” and an average target price 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.