$423.54 Million in Sales Expected for Mid-America Apartment Communities, Inc. (NYSE:MAA) This Quarter

Equities analysts expect Mid-America Apartment Communities, Inc. (NYSE:MAA) to post $423.54 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Mid-America Apartment Communities’ earnings, with the lowest sales estimate coming in at $421.60 million and the highest estimate coming in at $426.60 million. Mid-America Apartment Communities posted sales of $418.10 million in the same quarter last year, which suggests a positive year over year growth rate of 1.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, May 5th.

On average, analysts expect that Mid-America Apartment Communities will report full year sales of $1.72 billion for the current financial year, with estimates ranging from $1.71 billion to $1.73 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.81 billion, with estimates ranging from $1.77 billion to $1.83 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Mid-America Apartment Communities.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Tuesday, February 2nd. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.19. Mid-America Apartment Communities had a net margin of 19.22% and a return on equity of 5.63%. The company had revenue of $423.66 million during the quarter, compared to the consensus estimate of $422.86 million. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year.

A number of equities research analysts recently weighed in on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on shares of Mid-America Apartment Communities from $120.00 to $125.00 in a research note on Tuesday, December 15th. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $132.00 to $145.00 in a research note on Friday, January 22nd. Mizuho lifted their price objective on shares of Mid-America Apartment Communities from $115.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, November 10th. Robert W. Baird cut shares of Mid-America Apartment Communities from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $132.00 to $137.00 in a research note on Tuesday, February 9th. Finally, Truist lifted their price objective on shares of Mid-America Apartment Communities from $122.00 to $130.00 in a research note on Monday, November 16th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $129.73.

Shares of NYSE MAA traded up $3.60 during midday trading on Thursday, reaching $142.29. 24,466 shares of the company traded hands, compared to its average volume of 677,354. Mid-America Apartment Communities has a 52 week low of $82.00 and a 52 week high of $148.48. The stock has a 50-day moving average price of $132.53 and a 200 day moving average price of $123.70. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.05 and a quick ratio of 0.05. The company has a market cap of $16.27 billion, a price-to-earnings ratio of 49.89 and a beta of 0.66.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 29th. Stockholders of record on Friday, January 15th were given a dividend of $1.025 per share. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend was Thursday, January 14th. This represents a $4.10 annualized dividend and a dividend yield of 2.88%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 62.60%.

In other Mid-America Apartment Communities news, EVP Melanie Carpenter sold 208 shares of the firm’s stock in a transaction dated Tuesday, January 12th. The shares were sold at an average price of $123.51, for a total value of $25,690.08. Following the completion of the transaction, the executive vice president now directly owns 16,399 shares in the company, valued at $2,025,440.49. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Albert M. Campbell III sold 397 shares of the firm’s stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $123.51, for a total transaction of $49,033.47. Following the completion of the transaction, the chief financial officer now owns 67,357 shares of the company’s stock, valued at $8,319,263.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,387 shares of company stock valued at $294,818. Insiders own 1.34% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Mid-America Apartment Communities by 1.0% during the third quarter. BlackRock Inc. now owns 11,806,156 shares of the real estate investment trust’s stock worth $1,368,923,000 after purchasing an additional 120,291 shares during the period. JPMorgan Chase & Co. raised its position in Mid-America Apartment Communities by 1.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,435,422 shares of the real estate investment trust’s stock valued at $435,234,000 after acquiring an additional 50,714 shares in the last quarter. Northern Trust Corp raised its position in Mid-America Apartment Communities by 19.4% during the fourth quarter. Northern Trust Corp now owns 2,207,230 shares of the real estate investment trust’s stock valued at $279,634,000 after acquiring an additional 358,891 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Mid-America Apartment Communities by 4.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,778,843 shares of the real estate investment trust’s stock valued at $206,256,000 after acquiring an additional 83,862 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in Mid-America Apartment Communities by 1.2% during the third quarter. Nuveen Asset Management LLC now owns 1,653,514 shares of the real estate investment trust’s stock valued at $191,724,000 after acquiring an additional 19,274 shares in the last quarter. Institutional investors and hedge funds own 91.38% of the company’s stock.

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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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

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