Mid-America Apartment Communities (NYSE:MAA) Shares Cross Above 50-Day Moving Average – Should You Sell?

Mid-America Apartment Communities, Inc. (NYSE:MAA)’s stock price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $120.61 and traded as high as $122.38. Mid-America Apartment Communities shares last traded at $122.1470, with a volume of 1,303,504 shares changing hands.

Analysts Set New Price Targets

MAA has been the subject of a number of analyst reports. Truist Financial decreased their price objective on shares of Mid-America Apartment Communities from $146.00 to $132.00 and set a “buy” rating for the company in a research report on Thursday, September 17th. Royal Bank Of Canada dropped their price objective on shares of Mid-America Apartment Communities from $138.00 to $127.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 13th. Citigroup reissued a “market outperform” rating on shares of Mid-America Apartment Communities in a report on Friday, October 30th. BNP Paribas Exane upgraded Mid-America Apartment Communities from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Piper Sandler upped their price target on shares of Mid-America Apartment Communities from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday. Eight research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $138.06.

Mid-America Apartment Communities Stock Performance

The stock has a market capitalization of $14.17 billion, a PE ratio of 37.01 and a beta of 0.71. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.08. The firm’s 50-day simple moving average is $120.61 and its two-hundred day simple moving average is $128.93.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($1.38). The business had revenue of $560.13 million during the quarter, compared to analysts’ expectations of $558.07 million. Mid-America Apartment Communities had a return on equity of 6.89% and a net margin of 17.43%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.16 earnings per share. On average, equities research analysts expect that Mid-America Apartment Communities, Inc. will post 8.50 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 15th were issued a dividend of $1.53 per share. This represents a $6.12 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Thursday, October 15th. Mid-America Apartment Communities’s payout ratio is currently 185.45%.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Adrian Hill bought 844 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was bought at an average cost of $118.35 per share, with a total value of $99,887.40. Following the completion of the transaction, the executive vice president directly 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MAA. Elevation Wealth Partners LLC lifted its stake in shares of Mid-America Apartment Communities by 593.1% in the second quarter. Elevation Wealth Partners LLC now owns 201 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 172 shares during the last quarter. Provenance Wealth Advisors LLC acquired a new position in shares of Mid-America Apartment Communities in the third quarter valued at $30,000. Raiffeisen Bank International AG raised its stake in shares of Mid-America Apartment Communities by 116.7% in the 2nd quarter. Raiffeisen Bank International AG now owns 221 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 119 shares in the last quarter. Root Financial Partners LLC bought a new position in Mid-America Apartment Communities during the third quarter worth about $34,000. Finally, Transamerica Financial Advisors LLC acquired a new stake in Mid-America Apartment Communities in the 2nd quarter valued at $37,000. 93.60% of the stock is owned by institutional investors.

About Mid-America Apartment Communities

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.