Wall Street analysts forecast that Mid-America Apartment Communities Inc (NYSE:MAA) will report $405.46 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Mid-America Apartment Communities’ earnings. The highest sales estimate is $410.12 million and the lowest is $402.12 million. Mid-America Apartment Communities reported sales of $390.07 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.9%. The firm is scheduled to report its next earnings results after the market closes on Wednesday, July 31st.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full year sales of $1.63 billion for the current year, with estimates ranging from $1.61 billion to $1.65 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.68 billion, with estimates ranging from $1.65 billion to $1.71 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.95). Mid-America Apartment Communities had a return on equity of 3.68% and a net margin of 14.86%. The firm had revenue of $401.17 million during the quarter, compared to analyst estimates of $400.91 million. During the same quarter in the prior year, the firm earned $1.36 EPS. The business’s quarterly revenue was up 3.9% compared to the same quarter last year.
A number of equities analysts have commented on the stock. Janney Montgomery Scott lowered shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a report on Wednesday, April 3rd. They noted that the move was a valuation call. KeyCorp upped their target price on shares of Terreno Realty from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday. Raymond James restated a “buy” rating on shares of Teck Resources in a research note on Thursday, April 4th. SunTrust Banks upped their target price on shares of Mid-America Apartment Communities to $120.00 and gave the company a “positive” rating in a research note on Wednesday, June 19th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Hanger from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Mid-America Apartment Communities presently has an average rating of “Buy” and an average target price of $112.18.
In related news, Director Claude B. Nielsen sold 6,500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $109.83, for a total transaction of $713,895.00. Following the completion of the sale, the director now owns 12,117 shares of the company’s stock, valued at approximately $1,330,810.11. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.
Large investors have recently made changes to their positions in the stock. State Board of Administration of Florida Retirement System grew its position in shares of Mid-America Apartment Communities by 0.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 161,609 shares of the real estate investment trust’s stock valued at $17,669,000 after buying an additional 1,270 shares during the last quarter. FMR LLC grew its position in shares of Mid-America Apartment Communities by 28.2% during the 1st quarter. FMR LLC now owns 1,352,227 shares of the real estate investment trust’s stock valued at $147,839,000 after buying an additional 297,563 shares during the last quarter. Kentucky Retirement Systems bought a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at about $474,000. Crawford Investment Counsel Inc. grew its position in shares of Mid-America Apartment Communities by 1.6% during the 1st quarter. Crawford Investment Counsel Inc. now owns 103,052 shares of the real estate investment trust’s stock valued at $11,267,000 after buying an additional 1,606 shares during the last quarter. Finally, Duality Advisers LP bought a new stake in shares of Mid-America Apartment Communities during the 1st quarter valued at about $616,000. 92.47% of the stock is owned by institutional investors and hedge funds.
MAA stock traded down $1.76 during trading on Thursday, reaching $121.80. The stock had a trading volume of 17,377 shares, compared to its average volume of 518,504. Mid-America Apartment Communities has a 1-year low of $91.21 and a 1-year high of $123.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $13.82 billion, a P/E ratio of 20.10, a P/E/G ratio of 4.99 and a beta of 0.40. The company has a fifty day moving average of $117.49.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Friday, July 12th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.15%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 63.58%.
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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