In yesterday’s Wall Street session, Mid-America Apartment Communities Inc. (NYSE:MAA) shares traded at $151.91, down -4.94% from the previous session.
MAA stock price is now -6.42% away from the 50-day moving average and -8.03% away from the 200-day moving average. The market capitalization of the company currently stands at $17.42B.
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With the price target reduced from $176 to $167, Truist Downgraded its rating from Buy to Hold for Mid-America Apartment Communities Inc. (NYSE: MAA). On January 09, 2023, Credit Suisse Downgraded its previous ‘Outperform’ rating to ‘Neutral’ on the stock keeping its target price maintained at $160, while ‘UBS’ rates the stock as ‘Sell’.
In other news, Hill Adrian, EVP, Chief Investment Officer sold 584 shares of the company’s stock on Feb 21. The stock was sold for $95,941 at an average price of $164.28. Upon completion of the transaction, the EVP, Chief Investment Officer now directly owns 27,104 shares in the company, valued at $4.12 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 11, EVP, General Counsel DelPriore Robert J. sold 988 shares of the business’s stock. A total of $153,703 was realized by selling the stock at an average price of $155.57. This leaves the insider owning 48,744 shares of the company worth $7.4 million. Insiders disposed of 93,849 shares of company stock worth roughly $14.26 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in MAA stock. A new stake in Mid-America Apartment Communities Inc. shares was purchased by ADELANTE CAPITAL MANAGEMENT LLC during the first quarter worth $12,709,000. MORAN WEALTH MANAGEMENT, LLC invested $9,145,000 in shares of MAA during the first quarter. In the first quarter, ALLSTATE INVESTMENT MANAGEMENT CO acquired a new stake in Mid-America Apartment Communities Inc. valued at approximately $9,080,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in MAA for approximately $4,621,000. GREEN SQUARE CAPITAL ADVISORS LLC purchased a new stake in MAA valued at around $4,477,000 in the second quarter. In total, there are 952 active investors with 95.60% ownership of the company’s stock.
On Tuesday morning Mid-America Apartment Communities Inc. (NYSE: MAA) stock kicked off with the opening price of $159.62. During the past 12 months, Mid-America Apartment Communities Inc. has had a low of $141.13 and a high of $217.64. The fifty day moving average price for MAA is $162.33 and a two-hundred day moving average price translates $165.17 for the stock.
The latest earnings results from Mid-America Apartment Communities Inc. (NYSE: MAA) was released for Dec, 2022. According to the REIT – Residential Company, earnings per share came in at $1.67, beating analysts’ expectations of $1.17 by 0.5. This compares to $1.60 EPS in the same period last year. The net profit margin was 31.40% and return on equity was 10.60% for MAA. The company reported revenue of $527.97 million for the quarter, compared to $463.57 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.89 percent. For the current quarter, analysts expect MAA to generate $527.16M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/31/2023. Investors who held shares on 01/13/2023 were paid a $1.40 dividend. On an annualized basis, this represents a $4.25 dividend and a 2.80% percent yield. There was an ex-dividend date of 01/12/2023 for this dividend. In terms of dividend payout ratio, MAA is presently at 85.20%.
Mid-America Apartment Communities Inc.(MAA) Company Profile
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. As of December 31, 2020, MAA had ownership interest in 102,772 apartment units, including communities currently in development, across 16 states and the District of Columbia.
