Mid America Apartment Communities’ EVP sells $191,176 in stock

Robert J. DelPriore, Executive Vice President and General Counsel at Mid America Apartment Communities Inc. (NYSE:MAA), a $19.7 billion market cap company currently trading near its 52-week high, recently executed a series of stock transactions, according to a recent SEC filing. According to InvestingPro analysis, MAA maintains a GREAT financial health score.

On April 1, DelPriore disposed of 849 shares of common stock at a price of $167.48 per share, resulting in a total transaction value of $142,190. The shares were withheld to cover tax obligations related to the vesting of previously earned restricted stock. The transaction price was notably above InvestingPro’s Fair Value estimate, suggesting the stock may be currently overvalued.

Additionally, DelPriore acquired 4,119 shares of common stock at no cost, as part of a prior year restricted stock plan. Following these transactions, his total direct ownership increased to 56,902.4148 shares.

Most notably, on April 3, DelPriore sold 1,150 shares in an open market transaction at $166.24 per share, totaling $191,176. This sale was conducted under a 10b5-1 plan, aimed at meeting additional tax obligations from the vesting of restricted stock.

These transactions reflect ongoing management of stock holdings by DelPriore, with the sales primarily focused on addressing tax-related requirements.

In other recent news, Mid-America Apartment Communities Inc. reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of $1.42, which exceeded analyst forecasts of $1.02. However, the company’s revenue was slightly below expectations, coming in at $549.83 million compared to the anticipated $551.7 million. Jefferies analyst Linda Tsai recently upgraded Mid-America Apartment Communities’ stock from Hold to Buy, raising the price target significantly from $148 to $190, citing the company’s strong presence in Sunbelt markets. In contrast, Truist Securities downgraded the stock from Buy to Hold, setting a new price target of $46, up from $45, due to anticipated less-than-average growth and potential challenges in the Metro Washington DC area. JMP Securities maintained its Market Outperform rating with a $160 price target, highlighting promising new lease rate growth and strong balance sheet fundamentals. These developments indicate varied perspectives from analysts on Mid-America Apartment Communities’ future performance, reflecting differing views on market dynamics and company strategy.

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