Mid-America Apartment Communities (NYSE:MAA) Shares Down 3.3% - Time to Sell?

Mid-America Apartment Communities, Inc. (NYSE:MAA - Get Free Report)'s share price was down 3.3% on Tuesday . The company traded as low as $149.78 and last traded at $150.57. Approximately 242,042 shares changed hands during trading, a decline of 68% from the average daily volume of 747,758 shares. The stock had previously closed at $155.67.

Analyst Ratings Changes

A number of analysts recently weighed in on MAA shares. Truist Financial decreased their price target on shares of Mid-America Apartment Communities from $174.00 to $171.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. Evercore ISI upped their price objective on shares of 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. JMP Securities upped their price objective on shares of Mid-America Apartment Communities from $160.00 to $170.00 and gave the company a "market outperform" rating in a research report on Thursday, May 22nd. Wall Street Zen raised shares of Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Scotiabank upped their price objective on shares of Mid-America Apartment Communities from $182.00 to $194.00 and gave the company a "sector outperform" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Mid-America Apartment Communities has a consensus rating of "Hold" and a consensus target price of $169.50.

Mid-America Apartment Communities Trading Down 1.4%

The firm has a market cap of $17.52 billion, a price-to-earnings ratio of 33.42, a price-to-earnings-growth ratio of 3.72 and a beta of 0.80. The business's 50 day moving average price is $158.08 and its 200-day moving average price is $157.98. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.08 and a current ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.04. The firm had revenue of $549.30 million for the quarter, compared to analyst estimates of $551.21 million. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. Mid-America Apartment Communities's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.22 earnings per share. Equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a dividend of $1.515 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.05%. Mid-America Apartment Communities's dividend payout ratio (DPR) is 126.25%.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 4,358 shares of the stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $166.24, for a total transaction of $724,473.92. Following the sale, the chief executive officer now owns 324,171 shares in the company, valued at $53,890,187.04. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Amber Fairbanks sold 173 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $166.85, for a total transaction of $28,865.05. Following the sale, the executive vice president now owns 3,012 shares in the company, valued at approximately $502,552.20. This trade represents a 5.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,313 shares of company stock worth $1,171,707 over the last quarter. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MAA. Larson Financial Group LLC grew its position in Mid-America Apartment Communities by 107.1% in the 1st quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 91 shares during the last quarter. Financial Network Wealth Advisors LLC bought a new position in Mid-America Apartment Communities in the 1st quarter worth about $29,000. AlphaQuest LLC bought a new position in Mid-America Apartment Communities in the 1st quarter worth about $34,000. CoreCap Advisors LLC grew its position in Mid-America Apartment Communities by 94.9% in the 4th quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 112 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new position in Mid-America Apartment Communities in the 1st quarter worth about $36,000. Institutional investors own 93.60% of the company's stock.

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.