Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Mid-America Apartment Communities Inc. shares valued at $95,941 were sold by Hill Adrian on Feb 21. At $164.28 per share, Hill Adrian sold 584 shares. The insider’s holdings dropped to 27,104 shares worth approximately $4.48 million following the completion of this transaction.
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Also, DelPriore Robert J. sold 988 shares, netting a total of over 153,703 in proceeds. Following the sale of shares at $155.57 each, the insider now holds 48,744 shares.
Before that, Carpenter Melanie had sold 269 shares from its account. In a trade valued at $41,848, the EVP & CHRO traded Mid-America Apartment Communities Inc. shares for $155.57 each. Upon closing the transaction, the insider’s holdings decreased to 269 shares, worth approximately $2.89 million.
As published in a research note from Truist on January 17, 2023, Mid-America Apartment Communities Inc. [MAA] has been rated down from a Buy to a Hold and the price target has been revised to $167 from $176. This represents a 0.98% premium over Thursday’s closing price. Analysts at Credit Suisse downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in early January. As of December 15, 2022, UBS has initiated its “Sell” rating for MAA. Earlier on December 08, 2022, Goldman upgraded its rating. Their new recommendation was “a Buy” for MAA stock which previously was a “a Neutral”.
Analyzing MAA Stock Performance
On Thursday, Mid-America Apartment Communities Inc. [NYSE: MAA] rose 0.35% to $165.37. The stock’s lowest price that day was $164.16, but it reached a high of $166.71 in the same session. During the last five days, there has been a drop of approximately -2.91%. Over the course of the year, Mid-America Apartment Communities Inc. shares have jumped approximately 5.34%. Shares of the company reached a 52-week high of $176.36 on 02/09/23 and a 52-week low of $152.16 on 01/05/23. A 50-day SMA is recorded $162.43, while a 200-day SMA reached $165.78. Nevertheless, trading volume fell to 0.75 million shares from 0.41 million shares the previous day.
Support And Resistance Levels for Mid-America Apartment Communities Inc. (MAA)
According to the 24-hour chart, there is a support level at 164.12, which, if violated, would cause prices to drop to 162.86. In the upper region, resistance lies at 166.67. The next price resistance is at 167.96. RSI (Relative Strength Index) is 47.53 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -5.08, which suggests the price will decrease in the coming days. Percent R is at 86.60%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Mid-America Apartment Communities Inc. subject to short interest?
Stocks of Mid-America Apartment Communities Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 0.64 million shares to 3.16 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.52 million shares. A jump of 20.25% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.52 of the overall float, the days-to-cover ratio (short ratio) jumped to 5.52.
Which companies own the most shares of Mid-America Apartment Communities Inc. (MAA)?
According to The Vanguard Group, Inc. filings, the company currently owns 18,598,516 shares, which is about 16.11% of the total MAA shares outstanding. The investor’s shares have appreciated by 80,201 from its previous 13-F filing of 18518315.0 shares. With the completion of the buy transaction, Cohen & Steers Capital Management’s stake is now worth $1,634,424,348. BlackRock Fund Advisors reduced a -2.22% interest valued at $1.3 billion while SSgA Funds Management, Inc. purchased a 55,940 stake. A total of 598,095 shares of Mid-America Apartment Communities Inc. were bought by Norges Bank Investment Management during the quarter, and 17,506 were bought by APG Asset Management US, Inc. In its current portfolio, Fidelity Management & Research Co holds 2,654,482 shares valued at $442.56 million.
In terms of Mid-America Apartment Communities Inc. share price expectations, FactSet research, analysts set an average price target of $180.28 in the next 12 months, up nearly 6.5% from the previous closing price of $164.79. Analysts anticipate Mid-America Apartment Communities Inc. stock to reach $205.00 by 2023, with the lowest price target being $158.00. In spite of this, 22 analysts ranked Mid-America Apartment Communities Inc. stock as an Overweight at the end of 2023.