Mid-America Apartment Communities (NYSE:MAA) EVP Adrian Hill Buys 844 Shares of Company Stock

Mid-America Apartment Communities, Inc. (NYSE:MAA) EVP Adrian Hill bought 844 shares of the company’s stock in a transaction on Friday, October 30th. The stock was purchased at an average cost of $118.35 per share, for a total transaction of $99,887.40. Following the completion of the transaction, the executive vice president owned 65,277 shares in the company, valued at approximately $7,725,532.95. The trade was a 1.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Mid-America Apartment Communities Stock Down 1.0%

MAA opened at $117.18 on Wednesday. Mid-America Apartment Communities, Inc. has a fifty-two week low of $113.95 and a fifty-two week high of $144.41. The business has a 50-day moving average of $120.81 and a 200-day moving average of $129.00. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $13.59 billion, a PE ratio of 35.51 and a beta of 0.71.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.38). The firm had revenue of $560.13 million during the quarter, compared to analyst estimates of $558.07 million. Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.16 EPS. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.50 EPS for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MAA. UBS Group reduced their price objective on shares of Mid-America Apartment Communities from $129.00 to $123.00 and set a “neutral” rating for the company in a research note on Wednesday, October 14th. Royal Bank Of Canada decreased their price objective on shares of Mid-America Apartment Communities from $138.00 to $127.00 and set a “sector perform” rating for the company in a report on Tuesday, October 13th. Weiss Ratings downgraded shares of Mid-America Apartment Communities from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, October 8th. The Goldman Sachs Group lowered their target price on shares of 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, Scotiabank cut their target price on Mid-America Apartment Communities from $134.00 to $125.00 and set a “sector underperform” rating on the stock in a report on Thursday, September 17th. Eight investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Mid-America Apartment Communities presently has an average rating of “Hold” and an average target price of $138.06.

Institutional Investors Weigh In On Mid-America Apartment Communities

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Mid-America Apartment Communities in the second quarter valued at about $1,820,661,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Mid-America Apartment Communities during the second quarter worth about $175,377,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Mid-America Apartment Communities by 15,892.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,221,025 shares of the real estate investment trust’s stock valued at $169,649,000 after acquiring an additional 1,213,390 shares during the period. Legal & General Group Plc bought a new position in Mid-America Apartment Communities during the second quarter valued at about $155,052,000. Finally, Bank of America Corp DE bought a new position in Mid-America Apartment Communities during the second quarter valued at about $113,695,000. Institutional investors own 93.60% of the company’s stock.

About Mid-America Apartment Communities

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.