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Aubrey Clay Holder, the Executive Vice President and Chief Financial Officer of Mid America Apartment Communities Inc. (NYSE:MAA), recently executed a series of stock transactions as disclosed in a recent SEC filing. On April 3, Holder sold 28 shares of common stock at an average price of $166.24, totaling approximately $4,654. The transaction comes as MAA trades near its 52-week high of $173.38, with InvestingPro analysis indicating the stock is currently overvalued. This sale was conducted as part of an open market transaction pursuant to a 10b5-1 plan, which was adopted to meet additional tax obligations related to the vesting of restricted stock.
In addition to the sale, Holder also disposed of 37 shares on April 1 at a price of $167.48 per share to cover taxes associated with the vesting of shares earned under a prior restricted stock plan. This transaction amounted to a total of $6,196. Furthermore, on the same day, Holder acquired 1,636 shares of common stock without any cash exchange, reflecting an internal adjustment related to previously issued restricted stock.
Following these transactions, Holder’s direct ownership in Mid America Apartment Communities stands at 8,564 shares. The Germantown, Tennessee-based real estate investment trust, with a market capitalization of $19.69 billion, continues to focus on managing and acquiring apartment communities across the United States. For deeper insights into MAA’s valuation and performance metrics, including exclusive ProTips and comprehensive analysis, visit InvestingPro, where you’ll find detailed research reports and expert financial analysis.
In other recent news, Mid-America Apartment Communities reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $1.42, which exceeded the projected $1.02. However, the company’s revenue slightly missed expectations, coming in at $549.83 million compared to the anticipated $551.7 million. Meanwhile, Jefferies upgraded Mid-America Apartment Communities’ stock from Hold to Buy, setting a new price target of $190, up from $148, citing the company’s strong presence in the Sunbelt markets. Conversely, Truist Securities downgraded the stock from Buy to Hold, with a revised price target of $46, due to anticipated challenges in growth and exposure to the Metro Washington DC area. JMP Securities maintained its Market Outperform rating with a price target of $160, emphasizing the company’s promising lease rate growth and strong balance sheet. These developments reflect differing analyst opinions on the company’s future performance, with Jefferies expressing optimism and Truist highlighting potential headwinds.
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