Mid-America Apartment Communities Inc (NYSE:MAA) COO Thomas L. Grimes, Jr. Sells 284 Shares

Mid-America Apartment Communities Inc (NYSE:MAA) COO Thomas L. Grimes, Jr. sold 284 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $132.16, for a total value of $37,533.44. Following the transaction, the chief operating officer now directly owns 67,546 shares of the company’s stock, valued at approximately $8,926,879.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of MAA stock opened at $132.06 on Thursday. The stock has a 50-day simple moving average of $131.87 and a 200 day simple moving average of $129.02. Mid-America Apartment Communities Inc has a fifty-two week low of $97.52 and a fifty-two week high of $140.15. The stock has a market capitalization of $15.03 billion, a P/E ratio of 21.86, a P/E/G ratio of 5.16 and a beta of 0.29. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.72.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.87). Mid-America Apartment Communities had a net margin of 16.25% and a return on equity of 3.84%. The firm had revenue of $415.63 million for the quarter, compared to the consensus estimate of $411.16 million. During the same period in the prior year, the business earned $1.50 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Mid-America Apartment Communities Inc will post 6.51 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 15th will be given a $1.00 dividend. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Tuesday, January 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.03%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 66.23%.

Several large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its position in shares of Mid-America Apartment Communities by 38.2% in the 3rd quarter. Parallel Advisors LLC now owns 264 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 73 shares during the period. Meeder Asset Management Inc. boosted its position in shares of Mid-America Apartment Communities by 19.3% in the 3rd quarter. Meeder Asset Management Inc. now owns 568 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 92 shares during the period. Synovus Financial Corp boosted its position in shares of Mid-America Apartment Communities by 0.6% in the 3rd quarter. Synovus Financial Corp now owns 16,740 shares of the real estate investment trust’s stock valued at $2,178,000 after purchasing an additional 93 shares during the period. State of Michigan Retirement System boosted its position in shares of Mid-America Apartment Communities by 0.4% in the 3rd quarter. State of Michigan Retirement System now owns 27,401 shares of the real estate investment trust’s stock valued at $3,562,000 after purchasing an additional 100 shares during the period. Finally, CSat Investment Advisory L.P. boosted its position in shares of Mid-America Apartment Communities by 73.2% in the 2nd quarter. CSat Investment Advisory L.P. now owns 395 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 92.84% of the company’s stock.

Several research analysts recently weighed in on the company. Capital One Financial raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 4th. Scotiabank raised Mid-America Apartment Communities from an “underperform” rating to a “sector perform” rating and set a $138.00 target price for the company in a research note on Tuesday, November 26th. Mizuho cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and decreased their target price for the company from $145.00 to $140.00 in a research note on Wednesday. Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a research note on Friday, November 8th. They set a “neutral” rating and a $149.00 target price for the company. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $135.00 target price on shares of Mid-America Apartment Communities in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Mid-America Apartment Communities currently has an average rating of “Buy” and an average price target of $129.73.

Mid-America Apartment Communities Company Profile

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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Insider Buying and Selling by Quarter for Mid-America Apartment Communities (NYSE:MAA)

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