Wall Street brokerages predict that Mid-America Apartment Communities Inc (NYSE:MAA) will post $1.47 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Mid-America Apartment Communities’ earnings, with the lowest EPS estimate coming in at $1.46 and the highest estimate coming in at $1.50. Mid-America Apartment Communities reported earnings of $1.48 per share in the same quarter last year, which would indicate a negative year over year growth rate of 0.7%. The company is expected to announce its next earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full year earnings of $6.00 per share for the current financial year, with EPS estimates ranging from $5.95 to $6.05. For the next year, analysts expect that the company will report earnings of $6.33 per share, with EPS estimates ranging from $6.17 to $6.50. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, May 2nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the consensus estimate of $1.46 by ($1.04). Mid-America Apartment Communities had a net margin of 21.72% and a return on equity of 5.10%. The business had revenue of $386.01 million for the quarter, compared to analyst estimates of $384.42 million. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis.
Several analysts have commented on the stock. DA Davidson set a $110.00 price objective on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a research note on Tuesday, January 30th. Mizuho set a $91.00 price objective on shares of Mid-America Apartment Communities and gave the company a “hold” rating in a research note on Friday, February 9th. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Monday, May 7th. ValuEngine lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Thursday, May 17th. Finally, Cantor Fitzgerald cut their target price on shares of Mid-America Apartment Communities from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $104.62.
Mid-America Apartment Communities traded down $0.77, hitting $90.88, on Friday, according to Marketbeat. 578,600 shares of the company’s stock traded hands, compared to its average volume of 759,885. Mid-America Apartment Communities has a 1-year low of $85.16 and a 1-year high of $110.95. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 2.14 and a beta of 0.34.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, July 13th will be issued a dividend of $0.9225 per share. This represents a $3.69 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend is Thursday, July 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 62.12%.
In related news, Director William Reid Sanders purchased 2,800 shares of the business’s stock in a transaction that occurred on Monday, May 21st. The stock was bought at an average price of $87.92 per share, with a total value of $246,176.00. Following the acquisition, the director now owns 15,109 shares in the company, valued at $1,328,383.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider H Eric Bolton, Jr. purchased 1,130 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The stock was bought at an average cost of $88.39 per share, with a total value of $99,880.70. Following the acquisition, the insider now owns 220,643 shares in the company, valued at approximately $19,502,634.77. The disclosure for this purchase can be found here. 1.26% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Synovus Financial Corp purchased a new stake in Mid-America Apartment Communities in the 1st quarter worth $129,000. Assetmark Inc. increased its holdings in Mid-America Apartment Communities by 497.4% in the 1st quarter. Assetmark Inc. now owns 1,607 shares of the real estate investment trust’s stock worth $147,000 after acquiring an additional 1,338 shares in the last quarter. McKinley Carter Wealth Services Inc. purchased a new stake in Mid-America Apartment Communities in the 1st quarter worth $177,000. Signaturefd LLC purchased a new stake in Mid-America Apartment Communities in the 1st quarter worth $182,000. Finally, Two Sigma Securities LLC purchased a new stake in Mid-America Apartment Communities in the 4th quarter worth $208,000. 91.58% of the stock is owned by institutional investors.
Mid-America Apartment Communities Company Profile
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities throughout the United States. As of March 31, 2018, MAA had ownership interest in 100,490 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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