Mid-America Apartment Communities (NYSE:MAA – Get Rating) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.13, Fidelity Earnings reports. Mid-America Apartment Communities had a return on equity of 9.76% and a net margin of 32.66%. During the same period in the previous year, the business earned $1.64 earnings per share.
MAA traded down $9.45 during trading on Friday, hitting $196.68. The company’s stock had a trading volume of 1,100,854 shares, compared to its average volume of 678,109. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.73. Mid-America Apartment Communities has a twelve month low of $151.99 and a twelve month high of $231.63. The business’s fifty day simple moving average is $207.98 and its 200 day simple moving average is $209.17. The firm has a market capitalization of $22.69 billion, a price-to-earnings ratio of 38.12, a P/E/G ratio of 12.63 and a beta of 0.74.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Thursday, April 14th were issued a $1.0875 dividend. This represents a $4.35 annualized dividend and a yield of 2.21%. The ex-dividend date was Wednesday, April 13th. Mid-America Apartment Communities’s payout ratio is currently 84.30%.
In other Mid-America Apartment Communities news, Director Monica Houle Mcgurk sold 3,670 shares of the firm’s stock in a transaction that occurred on Friday, February 4th. The stock was sold at an average price of $215.39, for a total value of $790,481.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.34% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. NEXT Financial Group Inc boosted its stake in shares of Mid-America Apartment Communities by 31.3% in the fourth quarter. NEXT Financial Group Inc now owns 306 shares of the real estate investment trust’s stock worth $70,000 after acquiring an additional 73 shares during the last quarter. MML Investors Services LLC boosted its stake in Mid-America Apartment Communities by 2.5% during the fourth quarter. MML Investors Services LLC now owns 4,240 shares of the real estate investment trust’s stock worth $973,000 after buying an additional 105 shares during the last quarter. Vident Investment Advisory LLC boosted its stake in Mid-America Apartment Communities by 1.7% during the fourth quarter. Vident Investment Advisory LLC now owns 15,914 shares of the real estate investment trust’s stock worth $3,652,000 after buying an additional 266 shares during the last quarter. LPL Financial LLC boosted its stake in Mid-America Apartment Communities by 3.1% during the fourth quarter. LPL Financial LLC now owns 11,648 shares of the real estate investment trust’s stock worth $2,672,000 after buying an additional 347 shares during the last quarter. Finally, Horizon Investments LLC boosted its stake in Mid-America Apartment Communities by 30.1% during the fourth quarter. Horizon Investments LLC now owns 2,709 shares of the real estate investment trust’s stock worth $618,000 after buying an additional 627 shares during the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on MAA. Truist Financial reduced their price objective on Mid-America Apartment Communities from $231.00 to $220.00 in a research note on Thursday, March 3rd. JPMorgan Chase & Co. raised their price objective on Mid-America Apartment Communities from $210.00 to $238.00 in a research note on Tuesday, January 18th. Mizuho reduced their price target on Mid-America Apartment Communities from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Wednesday, February 16th. Finally, StockNews.com initiated coverage on Mid-America Apartment Communities in a research report on Thursday, March 31st. They set a “hold” rating for the company. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $211.45.
Mid-America Apartment Communities Company Profile (Get Rating)
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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