Equities research analysts expect that Mid-America Apartment Communities Inc (NYSE:MAA) will announce earnings per share (EPS) of $1.50 for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Mid-America Apartment Communities’ earnings, with estimates ranging from $1.46 to $1.52. Mid-America Apartment Communities also posted earnings of $1.50 per share during the same quarter last year. The firm is expected to announce its next earnings results after the market closes on Wednesday, October 31st.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full year earnings of $6.05 per share for the current financial year, with EPS estimates ranging from $5.98 to $6.09. For the next financial year, analysts expect that the business will report earnings of $6.32 per share, with EPS estimates ranging from $6.29 to $6.43. Zacks’ EPS calculations 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 released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($1.00). Mid-America Apartment Communities had a net margin of 22.36% and a return on equity of 5.28%. The firm had revenue of $390.10 million during the quarter, compared to analysts’ expectations of $389.62 million. During the same period in the previous year, the business earned $1.48 earnings per share. The business’s revenue for the quarter was up 1.9% on a year-over-year basis.
MAA has been the subject of several research analyst reports. SunTrust Banks raised their price objective on Mid-America Apartment Communities to $102.00 and gave the company a “buy” rating in a research note on Wednesday, June 27th. ValuEngine raised Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Wednesday, June 27th. Stifel Nicolaus downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Thursday, August 2nd. Robert W. Baird reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, August 16th. Finally, Barclays reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a research note on Sunday, October 14th. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $103.20.
NYSE MAA opened at $99.41 on Friday. Mid-America Apartment Communities has a 1-year low of $85.16 and a 1-year high of $106.77. The company has a market capitalization of $11.18 billion, a P/E ratio of 16.74, a PEG ratio of 2.32 and a beta of 0.28. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.70.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th will be given a dividend of $0.9225 per share. This represents a $3.69 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend is Friday, October 12th. Mid-America Apartment Communities’s payout ratio is 62.12%.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 1,617 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $101.59, for a total transaction of $164,271.03. Following the completion of the transaction, the director now owns 75,563 shares of the company’s stock, valued at $7,676,445.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Russell R. French sold 4,993 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $100.69, for a total value of $502,745.17. Following the transaction, the director now directly owns 17,770 shares of the company’s stock, valued at approximately $1,789,261.30. The disclosure for this sale can be found here. Company insiders own 1.26% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. RVB Capital Management LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter valued at $4,027,000. Centersquare Investment Management LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter valued at $74,941,000. Pettee Investors Inc. grew its position in shares of Mid-America Apartment Communities by 12.9% in the second quarter. Pettee Investors Inc. now owns 8,352 shares of the real estate investment trust’s stock valued at $841,000 after purchasing an additional 955 shares during the period. AMP Capital Investors Ltd grew its position in shares of Mid-America Apartment Communities by 494.9% in the second quarter. AMP Capital Investors Ltd now owns 619,040 shares of the real estate investment trust’s stock valued at $62,320,000 after purchasing an additional 514,981 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Mid-America Apartment Communities in the second quarter valued at $2,995,000. 93.08% of the stock is owned by institutional investors.
About Mid-America Apartment Communities
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 June 30, 2018, MAA had ownership interest in 101,362 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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