Mid-America Apartment Communities, Inc. (NYSE:MAA) Shares Sold by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV lessened its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 11.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,316 shares of the real estate investment trust’s stock after selling 2,219 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Mid-America Apartment Communities were worth $2,278,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MAA. LPL Financial LLC increased its holdings in shares of Mid-America Apartment Communities by 83.3% in the 3rd quarter. LPL Financial LLC now owns 37,072 shares of the real estate investment trust’s stock worth $4,769,000 after acquiring an additional 16,842 shares during the period. Stifel Financial Corp increased its holdings in shares of Mid-America Apartment Communities by 7.8% in the 3rd quarter. Stifel Financial Corp now owns 13,890 shares of the real estate investment trust’s stock worth $1,787,000 after acquiring an additional 1,010 shares during the period. Bank of Nova Scotia increased its holdings in shares of Mid-America Apartment Communities by 14.1% in the 3rd quarter. Bank of Nova Scotia now owns 11,603 shares of the real estate investment trust’s stock worth $1,493,000 after acquiring an additional 1,436 shares during the period. Gotham Asset Management LLC increased its holdings in shares of Mid-America Apartment Communities by 330.9% in the 3rd quarter. Gotham Asset Management LLC now owns 21,162 shares of the real estate investment trust’s stock worth $2,722,000 after acquiring an additional 16,251 shares during the period. Finally, Lazard Asset Management LLC increased its holdings in shares of Mid-America Apartment Communities by 13.5% in the 3rd quarter. Lazard Asset Management LLC now owns 6,725 shares of the real estate investment trust’s stock worth $865,000 after acquiring an additional 799 shares during the period. Institutional investors and hedge funds own 93.60% of the company’s stock.

Insider Activity at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on MAA shares. Wells Fargo & Company raised their target price on shares of Mid-America Apartment Communities from $129.00 to $138.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Mizuho raised their target price on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. UBS Group raised their target price on shares of Mid-America Apartment Communities from $126.00 to $131.00 and gave the company a “sell” rating in a research note on Tuesday, May 14th. Piper Sandler reissued a “neutral” rating and set a $140.00 target price on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Finally, Scotiabank raised their target price on shares of Mid-America Apartment Communities from $139.00 to $144.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $142.44.

Mid-America Apartment Communities Stock Performance

MAA stock opened at $139.41 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market cap of $16.29 billion, a P/E ratio of 29.23, a P/E/G ratio of 3.14 and a beta of 0.85. The firm has a 50 day simple moving average of $136.19 and a 200 day simple moving average of $132.29. Mid-America Apartment Communities, Inc. has a 52 week low of $115.56 and a 52 week high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.23 by ($1.01). The company had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.28 earnings per share. Research analysts anticipate that Mid-America Apartment Communities, Inc. will post 8.88 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 Wednesday, July 31st. Investors of record on Monday, July 15th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 4.22%. The ex-dividend date is Monday, July 15th. Mid-America Apartment Communities’s payout ratio is presently 123.27%.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.