Mid-America Apartment Communities Inc (NYSE:MAA) CEO H Eric Bolton, Jr. sold 338 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $107.04, for a total transaction of $36,179.52. Following the transaction, the chief executive officer now directly owns 222,316 shares in the company, valued at approximately $23,796,704.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
NYSE MAA traded up $0.60 during trading hours on Tuesday, reaching $107.39. The company had a trading volume of 546,626 shares, compared to its average volume of 617,596. Mid-America Apartment Communities Inc has a 1-year low of $86.61 and a 1-year high of $107.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.12 and a quick ratio of 0.17. The stock has a market capitalization of $12.16 billion, a P/E ratio of 17.78, a PEG ratio of 3.22 and a beta of 0.50.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, January 30th. The real estate investment trust reported $1.55 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.55. The company had revenue of $398.15 million for the quarter, compared to analyst estimates of $399.19 million. Mid-America Apartment Communities had a net margin of 14.01% and a return on equity of 3.41%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 earnings per share. As a group, analysts anticipate that Mid-America Apartment Communities Inc will post 6.19 EPS for the current year.
Several brokerages have recently weighed in on MAA. Zacks Investment Research cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. Barclays reaffirmed a “buy” rating on shares of Mid-America Apartment Communities in a research report on Wednesday, November 28th. ValuEngine raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. KeyCorp set a $108.00 target price on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a research report on Thursday, December 20th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $102.00 target price on shares of Mid-America Apartment Communities in a research report on Wednesday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $104.56.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Mid-America Apartment Communities by 2.1% during the fourth quarter. BlackRock Inc. now owns 11,359,757 shares of the real estate investment trust’s stock worth $1,087,130,000 after purchasing an additional 238,613 shares during the period. Deutsche Bank AG increased its stake in Mid-America Apartment Communities by 17.8% during the third quarter. Deutsche Bank AG now owns 2,376,730 shares of the real estate investment trust’s stock worth $238,097,000 after purchasing an additional 358,406 shares during the period. Geode Capital Management LLC increased its stake in Mid-America Apartment Communities by 8.4% during the fourth quarter. Geode Capital Management LLC now owns 1,833,523 shares of the real estate investment trust’s stock worth $175,217,000 after purchasing an additional 142,096 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Mid-America Apartment Communities by 2.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,644,830 shares of the real estate investment trust’s stock worth $157,411,000 after purchasing an additional 31,770 shares during the period. Finally, Morgan Stanley increased its stake in Mid-America Apartment Communities by 8.8% during the third quarter. Morgan Stanley now owns 1,591,653 shares of the real estate investment trust’s stock worth $159,452,000 after purchasing an additional 129,006 shares during the period. Institutional investors own 92.84% of the company’s stock.
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About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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