Saturna Capital Corp Increases Stock Holdings in Mid-America Apartment Communities, Inc. (NYSE:MAA)

Saturna Capital Corp grew its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 23.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,490 shares of the real estate investment trust’s stock after buying an additional 660 shares during the quarter. Saturna Capital Corp’s holdings in Mid-America Apartment Communities were worth $585,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Larson Financial Group LLC boosted its stake in shares of Mid-America Apartment Communities by 107.1% during the first quarter. Larson Financial Group LLC now owns 176 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 91 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Mid-America Apartment Communities by 94.9% during the fourth quarter. CoreCap Advisors LLC now owns 230 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 112 shares during the last quarter. GoalVest Advisory LLC boosted its stake in shares of Mid-America Apartment Communities by 200.0% during the first quarter. GoalVest Advisory LLC now owns 240 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 160 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at $46,000. Finally, NBC Securities Inc. acquired a new stake in shares of Mid-America Apartment Communities during the first quarter valued at $46,000. Hedge funds and other institutional investors own 93.60% of the company’s stock.

Insider Transactions at Mid-America Apartment Communities

In other news, 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 sale, the executive vice president directly owned 3,012 shares in the company, valued at approximately $502,552.20. The trade was a 5.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by corporate insiders.

Mid-America Apartment Communities Price Performance

MAA stock opened at $150.84 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.82. Mid-America Apartment Communities, Inc. has a 52-week low of $138.89 and a 52-week high of $173.38. The stock’s 50 day moving average is $152.55 and its two-hundred day moving average is $156.23. The company has a market capitalization of $17.66 billion, a PE ratio of 31.43, a P/E/G ratio of 3.85 and a beta of 0.75.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.04. Mid-America Apartment Communities had a return on equity of 9.19% and a net margin of 25.70%. The company had revenue of $549.30 million for the quarter, compared to the consensus estimate of $551.21 million. During the same period in the previous year, the business earned $2.22 EPS. Mid-America Apartment Communities’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts predict that Mid-America Apartment Communities, Inc. will post 8.84 earnings per share for the current fiscal year.

Mid-America Apartment Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $1.515 per share. The ex-dividend date is Tuesday, July 15th. This represents a $6.06 annualized dividend and a yield of 4.02%. Mid-America Apartment Communities’s dividend payout ratio is presently 126.25%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MAA shares. The Goldman Sachs Group lowered Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $165.00 price target on the stock. in a research note on Friday, July 11th. Robert W. Baird raised their price target on Mid-America Apartment Communities from $161.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Scotiabank decreased their price target on Mid-America Apartment Communities from $194.00 to $180.00 and set a “sector outperform” rating on the stock in a research note on Friday, June 13th. Mizuho decreased their price target on Mid-America Apartment Communities from $166.00 to $161.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Finally, Barclays raised their price target on Mid-America Apartment Communities from $160.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities has an average rating of “Hold” and an average price target of $168.81.

About Mid-America Apartment Communities

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.