Short Interest in Mid-America Apartment Communities Inc (NYSE:MAA) Rises By 29.8%

Mid-America Apartment Communities Inc (NYSE:MAA) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 1,480,000 shares, a growth of 29.8% from the January 15th total of 1,140,000 shares. Based on an average daily volume of 565,000 shares, the short-interest ratio is currently 2.6 days. Approximately 1.3% of the shares of the company are sold short.

Shares of Mid-America Apartment Communities stock opened at $144.14 on Friday. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 47.10, a PEG ratio of 5.57 and a beta of 0.32. The business has a 50-day moving average price of $134.99 and a 200-day moving average price of $131.58. The company has a quick ratio of 0.08, a current ratio of 0.15 and a debt-to-equity ratio of 0.71. Mid-America Apartment Communities has a twelve month low of $101.59 and a twelve month high of $144.37.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, January 29th. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.63 by ($0.33). The firm had revenue of $416.82 million for the quarter, compared to analysts’ expectations of $417.43 million. Mid-America Apartment Communities had a net margin of 21.50% and a return on equity of 5.28%. The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.55 EPS. On average, equities analysts expect that Mid-America Apartment Communities will post 6.55 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 15th were issued a $1.00 dividend. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.96. The ex-dividend date was Tuesday, January 14th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.78%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 61.07%.

A number of equities research analysts have issued reports on MAA shares. Capital One Financial upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating in a research note on Monday, November 4th. Mizuho lowered Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and cut their price objective for the company from $145.00 to $140.00 in a research report on Wednesday, January 15th. Citigroup raised their price objective on Mid-America Apartment Communities from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Scotiabank upgraded Mid-America Apartment Communities from an “underperform” rating to a “sector perform” rating and set a $138.00 price objective for the company in a research report on Tuesday, November 26th. Finally, Royal Bank of Canada restated a “buy” rating and set a $135.00 price objective on shares of Mid-America Apartment Communities in a research report on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $130.58.

In other Mid-America Apartment Communities news, Director Claude B. Nielsen sold 3,423 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $137.04, for a total value of $469,087.92. Following the completion of the sale, the director now owns 13,740 shares in the company, valued at approximately $1,882,929.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO H Eric Bolton, Jr. sold 285 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $132.16, for a total value of $37,665.60. Following the completion of the sale, the chief executive officer now owns 254,539 shares of the company’s stock, valued at approximately $33,639,874.24. The disclosure for this sale can be found here. Insiders sold a total of 4,675 shares of company stock valued at $634,333 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. First Financial Corp IN bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Mid-America Apartment Communities in the 4th quarter valued at about $28,000. Parallel Advisors LLC lifted its holdings in shares of Mid-America Apartment Communities by 38.2% in the 3rd quarter. Parallel Advisors LLC now owns 264 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 73 shares during the last quarter. Whittier Trust Co. lifted its holdings in shares of Mid-America Apartment Communities by 217.5% in the 4th quarter. Whittier Trust Co. now owns 308 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 211 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Mid-America Apartment Communities in the 3rd quarter valued at about $46,000. 92.84% of the stock is owned by hedge funds and other institutional investors.

About Mid-America Apartment Communities

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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