Notable Stock to Watch: Mid-America Apartment Communities (NYSE:MAA)

Mid-America Apartment Communities (NYSE:MAA) stock identified change of 28.86% away from 52-week low price and recently located move of -5.13% off 52-week high price. It has market worth of $13379.38M and dividend yield of 3.27%. MAA stock has been recorded -0.73% away from 50 day moving average and 9.73% away from 200 day moving average. Moving closer, we can see that shares have been trading -2.32% off 20-day moving average.

On Aug. 5, 2019,  Mid-America Apartment Communities (NYSE:MAA) reported that its operating partnership, Mid-America Apartments, L.P. (MAALP) priced a $250 million offering of MAALP’s 3.950% senior unsecured notes due 2029 (the Notes) under its existing shelf registration statement. The Notes are being offered as additional notes under a third supplemental indenture pursuant to which MAALP previously issued $300 million aggregate principal amount of 3.950% senior notes due 2029 on March 7, 2019 (the Initial Notes).  The Notes will have substantially identical terms as the Initial Notes, will be treated as a single series with the Initial Notes and will have the same CUSIP number as the Initial Notes. The Notes were priced at 107.827% of the principal amount, plus accrued interest from March 7, 2019 up to, but not including, the date of delivery of the Notes, with a reoffer yield of 2.985%.  The Notes mature on March 15, 2029.  The closing of the offering is expected to occur on August 7, 2019, subject to the satisfaction of customary closing conditions.

MAALP intends to use net proceeds from the offering to repay a portion of the borrowings outstanding under its unsecured commercial paper program, and for general corporate purposes, which may include, without limitation, the repayment of other debt and the acquisition, development and redevelopment of apartment communities.

Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Jefferies LLC, J.P. Morgan Securities LLC, U.S. Bancorp Investments and Mizuho Securities USA LLC were the joint book-running managers for the offering. The Financial sector company, Mid-America Apartment Communities noticed change of -3.34% to $117.53 along volume of 1176726 shares in recent session compared to an average volume of 508.65K. The stock observed return of -1.38% in 5 days trading activity. The stock was at -3.08% over one month performance. MAA’s shares are at 7.01% for the quarter and driving a 17.64% return over the course of the past year and is now at 22.81% since this point in 2018.

The average volatility for the week at 2.80% and for month was at 1.73%. There are 113.84M shares outstanding and 113.32M shares are floated in market. Right now the stock beta is 0.36.

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