Mid-America Apartment Communities, Inc. (NYSE:MAA) EVP Robert J. Delpriore sold 4,750 shares of the business’s stock in a transaction that occurred on Friday, January 14th. The stock was sold at an average price of $218.49, for a total transaction of $1,037,827.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
MAA stock opened at $215.11 on Friday. The company has a 50 day moving average of $214.19 and a two-hundred day moving average of $198.43. The company has a market cap of $24.77 billion, a price-to-earnings ratio of 57.67, a PEG ratio of 13.76 and a beta of 0.71. Mid-America Apartment Communities, Inc. has a 12-month low of $127.72 and a 12-month high of $231.63. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.75.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Tuesday, October 26th. The real estate investment trust reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.70 by ($0.97). The company had revenue of $452.58 million during the quarter, compared to analyst estimates of $445.91 million. Mid-America Apartment Communities had a return on equity of 7.10% and a net margin of 24.83%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $1.57 earnings per share. On average, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 6.98 EPS for the current year.
Several research analysts have issued reports on MAA shares. Capital One Financial reaffirmed an “overweight” rating on shares of Mid-America Apartment Communities in a report on Wednesday, November 3rd. Truist Securities boosted their target price on Mid-America Apartment Communities from $198.00 to $222.00 and gave the stock a “buy” rating in a research report on Monday, December 6th. Mizuho lifted their price target on Mid-America Apartment Communities from $175.00 to $207.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 29th. Truist upped their price objective on shares of Mid-America Apartment Communities from $198.00 to $222.00 and gave the company a “buy” rating in a research note on Monday, December 6th. Finally, The Goldman Sachs Group initiated coverage on shares of Mid-America Apartment Communities in a research report on Thursday, September 23rd. They issued a “neutral” rating and a $202.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $198.46.
Institutional investors have recently made changes to their positions in the company. Blackstone Inc acquired a new position in Mid-America Apartment Communities in the second quarter worth approximately $351,223,000. Mackenzie Financial Corp grew its position in Mid-America Apartment Communities by 29.1% in the third quarter. Mackenzie Financial Corp now owns 11,073 shares of the real estate investment trust’s stock worth $2,068,000 after acquiring an additional 2,493 shares in the last quarter. Kentucky Retirement Systems acquired a new position in shares of Mid-America Apartment Communities during the 2nd quarter worth $1,123,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Mid-America Apartment Communities by 1.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,651,226 shares of the real estate investment trust’s stock valued at $308,366,000 after purchasing an additional 23,361 shares in the last quarter. Finally, Morgan Stanley lifted its stake in shares of Mid-America Apartment Communities by 162.0% in the 2nd quarter. Morgan Stanley now owns 430,122 shares of the real estate investment trust’s stock valued at $72,441,000 after purchasing an additional 265,978 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.
About Mid-America Apartment Communities
Mid-America Apartment Communities, Inc is a real estate investment trust. The firm engages in the operation, acquisition and development of apartment communities. It operates through the following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.
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