Mid-America Apartment Communities (NYSE:MAA – Get Free Report) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.04), FiscalAI reports. Mid-America Apartment Communities had a return on equity of 6.99% and a net margin of 18.17%. The firm had revenue of $560.13 million for the quarter, compared to analyst estimates of $558.07 million.
Mid-America Apartment Communities Trading Down 1.9%
Shares of MAA stock traded down $2.30 during trading hours on Wednesday, hitting $116.45. The company had a trading volume of 1,002,313 shares, compared to its average volume of 1,005,826. The company’s fifty day moving average is $122.24 and its 200 day moving average is $129.46. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities has a fifty-two week low of $113.95 and a fifty-two week high of $144.41. The stock has a market capitalization of $13.51 billion, a PE ratio of 34.05 and a beta of 0.75.
Mid-America Apartment Communities Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be paid a $1.53 dividend. This represents a $6.12 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Thursday, October 15th. Mid-America Apartment Communities’s payout ratio is 178.95%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on MAA. Citigroup reiterated a “market outperform” rating on shares of Mid-America Apartment Communities in a report on Wednesday, September 2nd. Truist Financial reduced their price target on shares of Mid-America Apartment Communities from $146.00 to $132.00 and set a “buy” rating on the stock in a research report on Thursday, September 17th. Barclays reduced their price target on shares of Mid-America Apartment Communities from $146.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 14th. Mizuho decreased their price objective on Mid-America Apartment Communities from $152.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, September 8th. Finally, Scotiabank lowered their price objective on Mid-America Apartment Communities from $134.00 to $125.00 and set a “sector underperform” rating for the company in a research report on Thursday, September 17th. Eight analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $137.82.
Get Our Latest Stock Analysis on Mid-America Apartment Communities
Mid-America Apartment Communities Company Profile
Mid-America Apartment Communities, Inc (NYSE: MAA) is a real estate investment trust that owns, operates and develops multifamily apartment communities. Its portfolio is focused primarily on conventional apartment housing, with properties offering a range of floor plans and amenities designed for individual renters, couples and families.
MAA concentrates its operations in high-growth markets across the Sun Belt, including communities in the Southeast, Southwest and Mid-Atlantic regions of the United States.
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