Amber Fairbanks Sells 173 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) Stock

Mid-America Apartment Communities, Inc. (NYSE:MAA) EVP Amber Fairbanks sold 173 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the completion of the transaction, the executive vice president now directly owns 3,012 shares in the company, valued at approximately $502,552.20. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Mid-America Apartment Communities Trading Up 3.5 %

NYSE:MAA opened at $167.77 on Friday. The company’s 50 day moving average is $161.41 and its 200-day moving average is $157.47. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.81. Mid-America Apartment Communities, Inc. has a 12 month low of $126.77 and a 12 month high of $173.38. The firm has a market cap of $19.61 billion, a price-to-earnings ratio of 37.45, a P/E/G ratio of 3.72 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The firm had revenue of $549.30 million during the quarter, compared to analyst estimates of $551.21 million. During the same quarter in the previous year, the business earned $2.22 EPS. The business’s revenue was up 1.0% on a year-over-year basis. Equities analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend was Tuesday, April 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 126.25%.

Analysts Set New Price Targets

Several research firms have weighed in on MAA. Royal Bank of Canada lifted their price objective on shares of Mid-America Apartment Communities from $158.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Evercore ISI upped their price target on Mid-America Apartment Communities from $155.00 to $159.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. StockNews.com upgraded Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research report on Wednesday, April 23rd. Scotiabank upgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and upped their target price for the company from $173.00 to $182.00 in a report on Friday, February 14th. Finally, Truist Financial raised their price target on shares of Mid-America Apartment Communities from $158.00 to $174.00 and gave the stock a “buy” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $168.45.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MAA. Alhambra Investment Management LLC grew its position in Mid-America Apartment Communities by 3.1% in the 1st quarter. Alhambra Investment Management LLC now owns 2,166 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 66 shares during the last quarter. Inspire Investing LLC raised its holdings in Mid-America Apartment Communities by 0.9% in the 4th quarter. Inspire Investing LLC now owns 7,978 shares of the real estate investment trust’s stock valued at $1,233,000 after acquiring an additional 68 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Mid-America Apartment Communities by 37.2% during the 4th quarter. IFP Advisors Inc now owns 251 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 68 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Mid-America Apartment Communities by 0.6% in the fourth quarter. Sanctuary Advisors LLC now owns 11,220 shares of the real estate investment trust’s stock valued at $1,704,000 after purchasing an additional 69 shares in the last quarter. Finally, Huntington National Bank lifted its position in Mid-America Apartment Communities by 6.4% in the fourth quarter. Huntington National Bank now owns 1,168 shares of the real estate investment trust’s stock worth $181,000 after purchasing an additional 70 shares during the period. 93.60% of the stock is currently owned by institutional investors and hedge funds.

About Mid-America Apartment Communities

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.