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

Key Points

• MAA EVP Adrian Hill bought 844 shares at an average price of $118.35, spending about $99,887. After the purchase, Hill directly owned 65,277 shares.
• MAA shares fell 1.0% to $117.18 in Tuesday trading. The REIT reported quarterly EPS of $0.72, below the $2.10 analyst consensus, while revenue of $560.13 million slightly topped estimates.
• The company paid a quarterly dividend of $1.53 per share, equivalent to a 5.2% annualized yield. Analysts’ average rating was “Hold,” with an average price target of $138.06.

Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report) EVP Adrian Hill acquired 844 shares of the company's stock in a transaction dated Friday, October 30th. The shares were bought at an average price of $118.35 per share, for a total transaction of $99,887.40. Following the acquisition, the executive vice president directly owned 65,277 shares of the company's stock, valued at approximately $7,725,532.95. This trade represents a 1.31% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Mid-America Apartment Communities Stock Down 1.0%

NYSE MAA traded down $1.16 during mid-day trading on Tuesday, hitting $117.18. The company's stock had a trading volume of 1,079,779 shares, compared to its average volume of 1,011,381. Mid-America Apartment Communities, Inc. has a twelve month low of $113.95 and a twelve month high of $144.41. The firm has a market capitalization of $13.60 billion, a price-to-earnings ratio of 35.51 and a beta of 0.75. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.02. The company's 50 day simple moving average is $121.12 and its 200 day simple moving average is $129.09.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.10 by ($1.38). The company had revenue of $560.13 million for the quarter, compared to analyst estimates of $558.07 million. Mid-America Apartment Communities had a net margin of 17.43% and a return on equity of 6.80%. Mid-America Apartment Communities's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.16 EPS. Analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.51 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently commented on MAA shares. Jefferies Financial Group raised shares of Mid-America Apartment Communities to a "hold" rating in a report on Wednesday, July 22nd. Cantor Fitzgerald reissued a "neutral" rating on shares of Mid-America Apartment Communities in a research note on Thursday, August 27th. Royal Bank Of Canada decreased their target price on shares of Mid-America Apartment Communities from $138.00 to $127.00 and set a "sector perform" rating for the company in a research note on Tuesday, October 13th. Scotiabank reduced their price objective on Mid-America Apartment Communities from $134.00 to $125.00 and set a "sector underperform" rating for the company in a report on Thursday, September 17th. Finally, Piper Sandler upped their price objective on Mid-America Apartment Communities from $121.00 to $125.00 and gave the company a "neutral" rating in a research report on Monday. Eight research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $138.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC grew its stake in Mid-America Apartment Communities by 593.1% in the second quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 172 shares during the last quarter. Raiffeisen Bank International AG increased its holdings in shares of Mid-America Apartment Communities by 116.7% in the second quarter. Raiffeisen Bank International AG now owns 221 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 119 shares during the period. Provenance Wealth Advisors LLC acquired a new stake in Mid-America Apartment Communities during the 3rd quarter valued at approximately $30,000. Transamerica Financial Advisors LLC acquired a new stake in Mid-America Apartment Communities during the 2nd quarter worth about $37,000. Finally, Root Financial Partners LLC lifted its holdings in Mid-America Apartment Communities by 3,100.0% in the first quarter. Root Financial Partners LLC now owns 288 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 279 shares during the period. Hedge funds and other 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.

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