KeyCorp Comments on Mid-America Apartment Communities Inc’s FY2019 Earnings (NYSE:MAA)

Mid-America Apartment Communities Inc (NYSE:MAA) – Stock analysts at KeyCorp issued their FY2019 EPS estimates for Mid-America Apartment Communities in a research note issued on Tuesday, according to Zacks Investment Research. KeyCorp analyst A. Wurschmidt forecasts that the real estate investment trust will post earnings of $6.36 per share for the year.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.61. The business had revenue of $384.60 million for the quarter, compared to analysts’ expectations of $386.96 million. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The business’s revenue was up 38.9% on a year-over-year basis. During the same quarter last year, the company earned $1.47 EPS.

MAA has been the topic of a number of other research reports. Royal Bank of Canada reissued a “buy” rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, November 3rd. Stifel Nicolaus dropped their price target on shares of Mid-America Apartment Communities from $113.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, October 27th. Mizuho reissued a “hold” rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a research note on Monday, November 6th. ValuEngine cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Finally, SunTrust Banks reissued a “buy” rating and issued a $109.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $110.50.

Shares of Mid-America Apartment Communities (NYSE MAA) opened at $91.32 on Thursday. Mid-America Apartment Communities has a one year low of $90.88 and a one year high of $110.95. The company has a market cap of $10,376.42, a P/E ratio of 15.37, a PEG ratio of 2.11 and a beta of 0.34.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th will be issued a $0.9225 dividend. The ex-dividend date is Thursday, January 11th. This represents a $3.69 dividend on an annualized basis and a yield of 4.04%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 166.22%.

In other news, Director William Reid Sanders acquired 7,000 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were bought at an average price of $100.11 per share, for a total transaction of $700,770.00. Following the acquisition, the director now owns 8,209 shares of the company’s stock, valued at approximately $821,802.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders acquired a total of 7,116 shares of company stock worth $710,687 in the last 90 days. 1.25% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in MAA. Oppenheimer Asset Management Inc. raised its holdings in shares of Mid-America Apartment Communities by 0.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,677 shares of the real estate investment trust’s stock worth $809,000 after acquiring an additional 58 shares during the period. People s United Financial Inc. raised its holdings in shares of Mid-America Apartment Communities by 0.4% during the 2nd quarter. People s United Financial Inc. now owns 38,782 shares of the real estate investment trust’s stock worth $4,087,000 after acquiring an additional 146 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Mid-America Apartment Communities by 5.1% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 3,184 shares of the real estate investment trust’s stock worth $335,000 after acquiring an additional 154 shares during the period. Stifel Financial Corp raised its holdings in shares of Mid-America Apartment Communities by 1.7% during the 2nd quarter. Stifel Financial Corp now owns 10,478 shares of the real estate investment trust’s stock worth $1,106,000 after acquiring an additional 180 shares during the period. Finally, Pacer Advisors Inc. raised its holdings in shares of Mid-America Apartment Communities by 8.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,776 shares of the real estate investment trust’s stock worth $293,000 after acquiring an additional 206 shares during the period. Institutional investors own 92.70% of the company’s stock.

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Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.

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Earnings History and Estimates for Mid-America Apartment Communities (NYSE:MAA)

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