SunTrust Banks Comments on Mid-America Apartment Communities Inc’s Q3 2018 Earnings (MAA)

Mid-America Apartment Communities Inc (NYSE:MAA) – Stock analysts at SunTrust Banks upped their Q3 2018 earnings per share (EPS) estimates for shares of Mid-America Apartment Communities in a report released on Tuesday, June 26th. SunTrust Banks analyst M. Lewis now anticipates that the real estate investment trust will post earnings of $1.52 per share for the quarter, up from their previous estimate of $1.51. SunTrust Banks currently has a “Buy” rating and a $102.00 target price on the stock. SunTrust Banks also issued estimates for Mid-America Apartment Communities’ Q4 2018 earnings at $1.59 EPS and FY2022 earnings at $7.02 EPS.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results 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 firm had revenue of $386.01 million during the quarter, compared to the consensus estimate of $384.42 million. During the same period in the prior year, the business earned $1.46 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 1.9% compared to the same quarter last year.

A number of other research firms also recently weighed in on MAA. Barclays restated a “buy” rating and issued a $112.00 price target on shares of Mid-America Apartment Communities in a research note on Tuesday, April 17th. BTIG Research downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating in a research note on Thursday, May 31st. ValuEngine upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Finally, 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. Nine analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $104.62.

Mid-America Apartment Communities opened at $100.67 on Friday, MarketBeat Ratings reports. Mid-America Apartment Communities has a 12 month low of $85.16 and a 12 month high of $110.24. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.21 and a current ratio of 0.21. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.41 and a beta of 0.35.

A number of large investors have recently bought and sold shares of the stock. Meadow Creek Investment Management LLC boosted its position in Mid-America Apartment Communities by 15.3% during the 4th quarter. Meadow Creek Investment Management LLC now owns 4,642 shares of the real estate investment trust’s stock worth $467,000 after buying an additional 616 shares during the period. Global X Management Co. LLC boosted its position in Mid-America Apartment Communities by 19.2% during the 1st quarter. Global X Management Co. LLC now owns 3,900 shares of the real estate investment trust’s stock worth $356,000 after buying an additional 629 shares during the period. Csenge Advisory Group boosted its position in Mid-America Apartment Communities by 31.6% during the 1st quarter. Csenge Advisory Group now owns 2,710 shares of the real estate investment trust’s stock worth $247,000 after buying an additional 650 shares during the period. M&T Bank Corp boosted its position in Mid-America Apartment Communities by 5.4% during the 1st quarter. M&T Bank Corp now owns 13,559 shares of the real estate investment trust’s stock worth $1,237,000 after buying an additional 692 shares during the period. Finally, Xact Kapitalforvaltning AB boosted its position in Mid-America Apartment Communities by 4.4% during the 1st quarter. Xact Kapitalforvaltning AB now owns 16,529 shares of the real estate investment trust’s stock worth $1,508,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 91.63% of the company’s stock.

In other Mid-America Apartment Communities news, insider H Eric Bolton, Jr. bought 1,130 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The shares were acquired at an average cost of $88.39 per share, for a total transaction of $99,880.70. Following the transaction, the insider now directly owns 220,643 shares in the company, valued at $19,502,634.77. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Reid Sanders bought 2,800 shares of the business’s stock in a transaction that occurred on Monday, May 21st. The shares were acquired at an average price of $87.92 per share, for a total transaction of $246,176.00. Following the completion of the transaction, the director now owns 15,109 shares in the company, valued at $1,328,383.28. The disclosure for this purchase can be found here. 1.26% of the stock is owned by company insiders.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Investors of record on Friday, July 13th will be given a dividend of $0.9225 per share. The ex-dividend date of this dividend is Thursday, July 12th. This represents a $3.69 annualized dividend and a yield of 3.67%. Mid-America Apartment Communities’s dividend payout ratio is presently 62.12%.

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.

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

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