Brokerages expect Mid-America Apartment Communities Inc (NYSE:MAA) to announce earnings per share (EPS) of $1.53 for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Mid-America Apartment Communities’ earnings. The lowest EPS estimate is $1.52 and the highest is $1.56. Mid-America Apartment Communities posted earnings of $1.55 per share in the same quarter last year, which suggests a negative year over year growth rate of 1.3%. The business is expected to issue its next quarterly earnings report on Wednesday, August 7th.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full-year earnings of $6.21 per share for the current year, with EPS estimates ranging from $6.11 to $6.25. For the next fiscal year, analysts forecast that the firm will post earnings of $6.39 per share, with EPS estimates ranging from $6.30 to $6.48. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.95). Mid-America Apartment Communities had a net margin of 14.86% and a return on equity of 3.68%. The business had revenue of $401.17 million during the quarter, compared to analyst estimates of $400.91 million. During the same period in the previous year, the company posted $1.36 earnings per share. Mid-America Apartment Communities’s revenue was up 3.9% compared to the same quarter last year.
MAA has been the subject of a number of research analyst reports. BMO Capital Markets reissued a “hold” rating and issued a $102.00 price target on shares of Mid-America Apartment Communities in a report on Wednesday, January 30th. Zacks Investment Research cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Wednesday, February 6th. ValuEngine raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. TheStreet raised Mid-America Apartment Communities from a “c+” rating to a “b-” rating in a research report on Thursday, February 14th. Finally, Janney Montgomery Scott cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $110.00 target price for the company. in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average target price of $108.59.
In other news, insider H Eric Bolton, Jr. sold 258 shares of the stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $108.58, for a total value of $28,013.64. Following the completion of the sale, the insider now directly owns 220,303 shares of the company’s stock, valued at $23,920,499.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Claude B. Nielsen sold 6,500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $109.83, for a total value of $713,895.00. Following the completion of the sale, the director now directly owns 12,117 shares of the company’s stock, valued at $1,330,810.11. The disclosure for this sale can be found here. Insiders sold 9,679 shares of company stock valued at $1,057,456 over the last three months. 1.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its stake in Mid-America Apartment Communities by 0.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 161,609 shares of the real estate investment trust’s stock worth $17,669,000 after acquiring an additional 1,270 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter valued at $474,000. Duff & Phelps Investment Management Co. increased its stake in shares of Mid-America Apartment Communities by 0.8% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 672,155 shares of the real estate investment trust’s stock valued at $64,325,000 after buying an additional 5,475 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Mid-America Apartment Communities by 35.8% in the fourth quarter. Sumitomo Mitsui Asset Management Company LTD now owns 145,300 shares of the real estate investment trust’s stock valued at $13,905,000 after buying an additional 38,283 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Mid-America Apartment Communities by 1.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 84,380 shares of the real estate investment trust’s stock valued at $8,075,000 after buying an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 93.32% of the company’s stock.
NYSE MAA traded up $1.55 on Friday, reaching $115.05. The company’s stock had a trading volume of 758,200 shares, compared to its average volume of 534,503. Mid-America Apartment Communities has a twelve month low of $87.47 and a twelve month high of $115.15. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $12.84 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 4.65 and a beta of 0.48.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were given a $0.96 dividend. The ex-dividend date of this dividend was Friday, April 12th. This represents a $3.84 annualized dividend and a dividend yield of 3.34%. Mid-America Apartment Communities’s dividend payout ratio is 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.
Featured Story: Is a Roth IRA right for you?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Mid-America Apartment Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities and related companies with MarketBeat.com's FREE daily email newsletter.