Azzad Asset Management Inc. ADV Boosts Position in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Azzad Asset Management Inc. ADV increased its stake in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 2.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,079 shares of the real estate investment trust’s stock after buying an additional 413 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Mid-America Apartment Communities were worth $2,527,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MAA. Norges Bank bought a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at $826,562,000. Capital World Investors lifted its position in Mid-America Apartment Communities by 45.9% during the 4th quarter. Capital World Investors now owns 6,636,915 shares of the real estate investment trust’s stock valued at $1,025,868,000 after acquiring an additional 2,088,143 shares during the period. Deutsche Bank AG boosted its stake in Mid-America Apartment Communities by 312.6% during the fourth quarter. Deutsche Bank AG now owns 1,226,026 shares of the real estate investment trust’s stock worth $189,507,000 after acquiring an additional 928,851 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Mid-America Apartment Communities by 26.9% in the fourth quarter. JPMorgan Chase & Co. now owns 3,344,862 shares of the real estate investment trust’s stock worth $517,015,000 after purchasing an additional 708,125 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $95,671,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MAA shares. Truist Financial dropped their price target on Mid-America Apartment Communities from $174.00 to $171.00 and set a “buy” rating on the stock in a research report on Wednesday, May 21st. Jefferies Financial Group raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and increased their target price for the stock from $148.00 to $190.00 in a research note on Monday, March 10th. Raymond James downgraded Mid-America Apartment Communities from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $185.00 to $175.00 in a report on Thursday, May 15th. Wall Street Zen upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Barclays increased their price objective on shares of Mid-America Apartment Communities from $160.00 to $172.00 and gave the company an “equal weight” rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $169.76.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $149.62 on Friday. Mid-America Apartment Communities, Inc. has a 12-month low of $137.51 and a 12-month high of $173.38. The firm has a market capitalization of $17.51 billion, a price-to-earnings ratio of 33.40, a price-to-earnings-growth ratio of 3.72 and a beta of 0.78. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.81. The firm has a 50 day moving average of $157.09 and a 200 day moving average of $157.53.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. Mid-America Apartment Communities had a net margin of 24.03% and a return on equity of 8.53%. The firm had revenue of $549.30 million during the quarter, compared to the consensus estimate of $551.21 million. During the same quarter in the previous year, the firm posted $2.22 EPS. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Tuesday, July 15th will be paid a dividend of $1.515 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $6.06 dividend on an annualized basis and a dividend yield of 4.05%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 126.25%.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 4,358 shares of Mid-America Apartment Communities stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $166.24, for a total transaction of $724,473.92. Following the sale, the chief executive officer now owns 324,171 shares of the company’s stock, valued at approximately $53,890,187.04. This trade represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Amber Fairbanks sold 173 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $166.85, for a total value of $28,865.05. Following the completion of the transaction, the executive vice president now directly owns 3,012 shares in the company, valued at approximately $502,552.20. This represents a 5.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,313 shares of company stock valued at $1,171,707. 1.20% of the stock is owned by corporate insiders.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust, which engages in the operation, acquisition, and development of apartment communities. It operates through the Same Store and Non-Same Store segments. The Same Store Communities segment represents those apartment communities that have been owned and stabilized for at least 12 months as of the first day of the calendar year.