Timothy Argo Sells 94 Shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) Stock

Mid-America Apartment Communities, Inc. (NYSE:MAA) EVP Timothy Argo sold 94 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total transaction of $15,626.56. Following the sale, the executive vice president now owns 17,740 shares of the company’s stock, valued at approximately $2,949,097.60. This represents a 0.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA traded down $4.49 during midday trading on Thursday, hitting $163.51. 1,011,475 shares of the stock were exchanged, compared to its average volume of 705,851. Mid-America Apartment Communities, Inc. has a twelve month low of $123.73 and a twelve month high of $173.38. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average price of $160.71 and a 200-day moving average price of $157.63. The stock has a market cap of $19.11 billion, a P/E ratio of 36.50, a PEG ratio of 3.72 and a beta of 0.90.

Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, February 5th. The real estate investment trust reported $2.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $1.19. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. On average, research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be given a dividend of $1.515 per share. The ex-dividend date is Tuesday, April 15th. This represents a $6.06 dividend on an annualized basis and a yield of 3.71%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 135.27%.

Institutional Trading of Mid-America Apartment Communities

Hedge funds and other institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new position in Mid-America Apartment Communities in the third quarter valued at $2,890,000. Metis Global Partners LLC increased its position in Mid-America Apartment Communities by 9.5% during the fourth quarter. Metis Global Partners LLC now owns 17,273 shares of the real estate investment trust’s stock worth $2,670,000 after purchasing an additional 1,499 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in Mid-America Apartment Communities by 2.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 180,689 shares of the real estate investment trust’s stock worth $28,711,000 after purchasing an additional 4,301 shares during the last quarter. Paradigm Asset Management Co. LLC raised its stake in Mid-America Apartment Communities by 1,582.9% during the fourth quarter. Paradigm Asset Management Co. LLC now owns 6,698 shares of the real estate investment trust’s stock worth $1,035,000 after purchasing an additional 6,300 shares during the period. Finally, Capital Investment Advisors LLC boosted its holdings in shares of Mid-America Apartment Communities by 27.1% in the 4th quarter. Capital Investment Advisors LLC now owns 58,484 shares of the real estate investment trust’s stock valued at $9,040,000 after purchasing an additional 12,454 shares during the last quarter. 93.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAA has been the subject of several analyst reports. Scotiabank raised Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $173.00 to $182.00 in a research note on Friday, February 14th. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, February 11th. Raymond James boosted their price objective on shares of Mid-America Apartment Communities from $180.00 to $185.00 and gave the company a “strong-buy” rating in a research note on Thursday, March 20th. Wells Fargo & Company reduced their target price on shares of Mid-America Apartment Communities from $174.00 to $164.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. Finally, StockNews.com lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Saturday, March 29th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities has a consensus rating of “Moderate Buy” and a consensus target price of $168.90.

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.