Equities research analysts forecast that Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) will report earnings per share of $1.92 for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Mid-America Apartment Communities’ earnings, with the highest EPS estimate coming in at $1.95 and the lowest estimate coming in at $1.89. Mid-America Apartment Communities reported earnings per share of $1.64 during the same quarter last year, which suggests a positive year-over-year growth rate of 17.1%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.
On average, analysts expect that Mid-America Apartment Communities will report full-year earnings of $8.02 per share for the current financial year, with EPS estimates ranging from $7.79 to $8.14. For the next year, analysts anticipate that the company will post earnings of $8.66 per share, with EPS estimates ranging from $8.21 to $8.91. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that cover Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA – Get Rating) last issued its quarterly earnings data on Wednesday, February 2nd. The real estate investment trust reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.87 by ($0.27). The company had revenue of $463.58 million for the quarter, compared to analysts’ expectations of $461.39 million. Mid-America Apartment Communities had a return on equity of 8.76% and a net margin of 30.02%. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS.
Several research firms recently commented on MAA. JPMorgan Chase & Co. upped their price target on shares of Mid-America Apartment Communities from $210.00 to $238.00 in a research report on Tuesday, January 18th. Truist Financial reduced their price target on shares of Mid-America Apartment Communities from $231.00 to $220.00 in a research report on Thursday, March 3rd. StockNews.com began coverage on shares of Mid-America Apartment Communities in a research report on Thursday. They issued a “hold” rating for the company. Mizuho reduced their price target on shares of Mid-America Apartment Communities from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Wednesday, February 16th. Finally, BTIG Research upped their price target on shares of Mid-America Apartment Communities from $218.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, December 13th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $211.45.
In other news, Director Monica Houle Mcgurk sold 3,670 shares of the company’s stock in a transaction on Friday, February 4th. The shares were sold at an average price of $215.39, for a total transaction of $790,481.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert J. Delpriore sold 4,750 shares of the company’s stock in a transaction on Friday, January 14th. The stock was sold at an average price of $218.49, for a total transaction of $1,037,827.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,320 shares of company stock worth $4,405,125. Corporate insiders own 1.39% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in shares of Mid-America Apartment Communities by 6.9% in the 4th quarter. BlackRock Inc. now owns 12,596,863 shares of the real estate investment trust’s stock worth $2,890,225,000 after buying an additional 807,830 shares in the last quarter. State Street Corp increased its position in Mid-America Apartment Communities by 8.1% during the 4th quarter. State Street Corp now owns 7,333,395 shares of the real estate investment trust’s stock worth $1,682,574,000 after purchasing an additional 546,867 shares in the last quarter. Norges Bank acquired a new stake in Mid-America Apartment Communities during the 4th quarter worth approximately $656,403,000. Geode Capital Management LLC grew its position in Mid-America Apartment Communities by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 2,484,415 shares of the real estate investment trust’s stock valued at $568,757,000 after acquiring an additional 52,181 shares in the last quarter. Finally, PGGM Investments grew its position in Mid-America Apartment Communities by 865.4% in the fourth quarter. PGGM Investments now owns 2,313,922 shares of the real estate investment trust’s stock valued at $530,906,000 after acquiring an additional 2,074,236 shares in the last quarter. Institutional investors and hedge funds own 92.45% of the company’s stock.
Shares of NYSE:MAA traded down $0.15 during trading on Friday, hitting $212.86. 12,904 shares of the company were exchanged, compared to its average volume of 662,573. The firm’s 50 day moving average price is $207.42 and its 200-day moving average price is $206.38. Mid-America Apartment Communities has a 12-month low of $143.47 and a 12-month high of $231.63. The stock has a market capitalization of $24.55 billion, a P/E ratio of 46.21, a PEG ratio of 13.07 and a beta of 0.74. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.22 and a quick ratio of 0.22.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 29th. Stockholders of record on Thursday, April 14th will be paid a dividend of $1.0875 per share. The ex-dividend date is Wednesday, April 13th. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.04%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 94.36%.
About Mid-America Apartment Communities (Get Rating)
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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