Wall Street analysts predict that Mid-America Apartment Communities Inc (NYSE:MAA) will report $415.78 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Mid-America Apartment Communities’ earnings, with estimates ranging from $412.10 million to $420.34 million. Mid-America Apartment Communities reported sales of $398.15 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.4%. The company is expected to issue its next earnings report on Wednesday, January 29th.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full-year sales of $1.64 billion for the current year, with estimates ranging from $1.63 billion to $1.64 billion. For the next financial year, analysts expect that the firm will report sales of $1.70 billion, with estimates ranging from $1.69 billion to $1.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.55 by ($0.87). The business had revenue of $415.63 million for the quarter, compared to the consensus estimate of $411.16 million. Mid-America Apartment Communities had a net margin of 16.25% and a return on equity of 3.84%. The business’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm posted $1.50 EPS.
Several equities research analysts recently commented on the company. Scotiabank raised Mid-America Apartment Communities from an “underperform” rating to a “sector perform” rating and set a $138.00 target price on the stock in a report on Tuesday, November 26th. Barclays set a $141.00 target price on Mid-America Apartment Communities and gave the stock a “buy” rating in a report on Friday, October 11th. Mizuho boosted their target price on Mid-America Apartment Communities from $132.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. ValuEngine cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Goldman Sachs Group assumed coverage on Mid-America Apartment Communities in a report on Friday, November 8th. They set a “neutral” rating and a $149.00 target price on the stock. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $128.82.
In other news, Director David P. Stockert sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $136.46, for a total transaction of $682,300.00. Following the transaction, the director now directly owns 68,778 shares in the company, valued at approximately $9,385,445.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Claude B. Nielsen sold 3,423 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $137.04, for a total transaction of $469,087.92. Following the transaction, the director now owns 13,740 shares in the company, valued at $1,882,929.60. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Mid-America Apartment Communities by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 18,881,481 shares of the real estate investment trust’s stock valued at $2,223,484,000 after acquiring an additional 346,064 shares in the last quarter. Brookfield Asset Management Inc. lifted its stake in shares of Mid-America Apartment Communities by 7.6% in the 2nd quarter. Brookfield Asset Management Inc. now owns 2,346,297 shares of the real estate investment trust’s stock valued at $276,300,000 after purchasing an additional 165,702 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Mid-America Apartment Communities by 5.5% in the 2nd quarter. Northern Trust Corp now owns 1,713,518 shares of the real estate investment trust’s stock valued at $201,785,000 after purchasing an additional 89,273 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Mid-America Apartment Communities by 1.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,505,728 shares of the real estate investment trust’s stock valued at $177,315,000 after purchasing an additional 28,752 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Mid-America Apartment Communities by 3.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,394,822 shares of the real estate investment trust’s stock valued at $164,255,000 after purchasing an additional 44,631 shares during the last quarter. Institutional investors and hedge funds own 92.85% of the company’s stock.
NYSE:MAA traded down $0.28 during midday trading on Wednesday, hitting $130.50. 895,292 shares of the stock were exchanged, compared to its average volume of 536,037. Mid-America Apartment Communities has a one year low of $91.21 and a one year high of $140.15. The company has a market capitalization of $15.02 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 5.19 and a beta of 0.30. The business has a 50-day moving average price of $135.57 and a two-hundred day moving average price of $126.73. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.72.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.07%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, January 14th. Mid-America Apartment Communities’s payout ratio is presently 63.58%.
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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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