Mid-America Apartment Communities (NYSE:MAA) Shares Down 3.3% - What's Next?

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

Analyst Ratings Changes

A number of research firms have weighed in on MAA. Mizuho decreased their price objective on Mid-America Apartment Communities from $166.00 to $161.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Wall Street Zen raised Mid-America Apartment Communities from a "sell" rating to a "hold" rating in a report on Friday, May 30th. Scotiabank increased their price target on Mid-America Apartment Communities from $182.00 to $194.00 and gave the stock a "sector outperform" rating in a report on Monday, May 12th. Jefferies Financial Group upgraded shares of Mid-America Apartment Communities from a "hold" rating to a "buy" rating and lifted their price objective for the company from $148.00 to $190.00 in a research report on Monday, March 10th. Finally, JMP Securities boosted 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 note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $169.50.

Mid-America Apartment Communities Stock Up 0.1%

The company has a market cap of $17.55 billion, a PE ratio of 33.47, a P/E/G ratio of 3.72 and a beta of 0.78. The firm has a 50-day simple moving average of $157.73 and a two-hundred day simple moving average of $157.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.08 and a quick ratio of 0.08.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.04. The firm had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.22 EPS. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a $1.515 dividend. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Tuesday, July 15th. Mid-America Apartment Communities's dividend payout ratio is currently 126.25%.

Insider Buying and Selling

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,643 shares of Mid-America Apartment Communities stock in a transaction on Monday, April 7th. The shares were sold at an average price of $149.93, for a total value of $396,264.99. Following the transaction, the chief executive officer now owns 319,813 shares in the company, valued at $47,949,563.09. This trade represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Amber Fairbanks sold 173 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $166.85, for a total transaction of $28,865.05. Following the sale, the executive vice president now directly owns 3,012 shares of the company's stock, valued at $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,313 shares of company stock worth $1,171,707. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invst LLC purchased a new position in shares of Mid-America Apartment Communities in the 1st quarter worth about $756,000. Strs Ohio acquired a new stake in Mid-America Apartment Communities during the 1st quarter worth approximately $7,606,000. Ransom Advisory Ltd purchased a new position in Mid-America Apartment Communities in the first quarter valued at approximately $36,000. Bayforest Capital Ltd lifted its position in Mid-America Apartment Communities by 207.1% during the first quarter. Bayforest Capital Ltd now owns 1,953 shares of the real estate investment trust's stock valued at $327,000 after buying an additional 1,317 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Mid-America Apartment Communities by 9.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,236,647 shares of the real estate investment trust's stock worth $207,237,000 after buying an additional 107,661 shares during the period. Institutional investors and hedge funds own 93.60% of the company's stock.

Mid-America Apartment Communities Company Profile

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.