Mid-America Apartment Communities Inc (NYSE:MAA) Director Gary Shorb bought 500 shares of the company’s stock in a transaction on Friday, February 9th. The shares were bought at an average price of $86.53 per share, for a total transaction of $43,265.00. Following the completion of the acquisition, the director now directly owns 4,750 shares in the company, valued at approximately $411,017.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link.
Mid-America Apartment Communities Inc (MAA) opened at $87.85 on Thursday. Mid-America Apartment Communities Inc has a 52 week low of $85.30 and a 52 week high of $110.95. The firm has a market cap of $9,998.04, a price-to-earnings ratio of 14.81, a P/E/G ratio of 2.07 and a beta of 0.28.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 12th were paid a $0.9225 dividend. The ex-dividend date was Thursday, January 11th. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. This represents a $3.69 annualized dividend and a dividend yield of 4.20%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 129.02%.
Several brokerages have commented on MAA. DA Davidson set a $110.00 target price on shares of Mid-America Apartment Communities and gave the stock a “buy” rating in a report on Tuesday, January 30th. Mizuho set a $91.00 price objective on shares of Mid-America Apartment Communities and gave the company a “hold” rating in a report on Friday, February 9th. ValuEngine downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Cantor Fitzgerald lowered their price objective on shares of Mid-America Apartment Communities from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, February 6th. Finally, Zacks Investment Research downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $106.15.
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About Mid-America Apartment Communities
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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