Insider Buying: Mid-America Apartment Communities (NYSE:MAA) EVP Purchases $99,887.40 in Stock

Mid-America Apartment Communities, Inc. (NYSE:MAA) EVP Adrian Hill acquired 844 shares of Mid-America Apartment Communities stock in a transaction dated Friday, October 30th. The stock was purchased at an average price of $118.35 per share, with a total value of $99,887.40. Following the completion of the purchase, the executive vice president owned 65,277 shares of the company’s stock, valued at approximately $7,725,532.95. The trade was a 1.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mid-America Apartment Communities Trading Down 0.3%

Mid-America Apartment Communities stock opened at $121.77 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.08. Mid-America Apartment Communities, Inc. has a 52 week low of $113.95 and a 52 week high of $144.41. The company has a market capitalization of $14.12 billion, a price-to-earnings ratio of 36.90 and a beta of 0.71. The stock has a 50-day moving average price of $120.41 and a 200 day moving average price of $128.85.

Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, October 28th. The real estate investment trust reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $2.10 by ($1.38). Mid-America Apartment Communities had a net margin of 17.43% and a return on equity of 6.89%. The firm had revenue of $560.13 million during the quarter, compared to analysts’ expectations of $558.07 million. During the same quarter in the prior year, the company earned $2.16 EPS. Mid-America Apartment Communities’s quarterly revenue was up 1.0% on a year-over-year basis. Sell-side analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.50 EPS 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. Stockholders of record on Thursday, October 15th were issued a $1.53 dividend. This represents a $6.12 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend was Thursday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is 185.45%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Truist Financial reduced their target price on shares of Mid-America Apartment Communities from $146.00 to $132.00 and set a “buy” rating for the company in a report on Thursday, September 17th. Scotiabank decreased their target price on shares of Mid-America Apartment Communities from $134.00 to $125.00 and set a “sector underperform” rating for the company in a research report on Thursday, September 17th. Citigroup reaffirmed a “market outperform” rating on shares of Mid-America Apartment Communities in a report on Friday, October 30th. Wall Street Zen downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Sunday, October 25th. Finally, Weiss Ratings lowered Mid-America Apartment Communities from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Eight analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $138.06.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its holdings in Mid-America Apartment Communities by 2.2% in the 3rd quarter. Fifth Third Bancorp now owns 3,795 shares of the real estate investment trust’s stock valued at $447,000 after acquiring an additional 83 shares during the last quarter. Aew Capital Management Inc. purchased a new position in Mid-America Apartment Communities in the 3rd quarter worth approximately $8,271,000. Maryland State Retirement & Pension System lifted its stake in Mid-America Apartment Communities by 24.5% in the 3rd quarter. Maryland State Retirement & Pension System now owns 7,593 shares of the real estate investment trust’s stock worth $894,000 after purchasing an additional 1,494 shares in the last quarter. Jacobi Capital Management LLC acquired a new position in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $34,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Mid-America Apartment Communities by 43.4% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 73,559 shares of the real estate investment trust’s stock worth $8,661,000 after purchasing an additional 22,267 shares during the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Mid-America Apartment Communities Company Profile

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.