Analysts expect that Mid-America Apartment Communities, Inc. (NYSE:MAA) will announce sales of $414.07 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Mid-America Apartment Communities’ earnings. The highest sales estimate is $417.70 million and the lowest is $410.55 million. Mid-America Apartment Communities posted sales of $415.63 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.4%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, October 28th.
On average, analysts expect that Mid-America Apartment Communities will report full year sales of $1.66 billion for the current financial year, with estimates ranging from $1.65 billion to $1.67 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.70 billion, with estimates ranging from $1.65 billion to $1.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.52 by ($0.87). The company had revenue of $413.03 million during the quarter, compared to analyst estimates of $413.40 million. Mid-America Apartment Communities had a net margin of 20.38% and a return on equity of 5.57%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.37 EPS.
MAA has been the topic of a number of research reports. BMO Capital Markets reissued a “buy” rating on shares of Mid-America Apartment Communities in a research note on Thursday, August 6th. Truist raised their target price on shares of Mid-America Apartment Communities from $119.00 to $122.00 in a research note on Tuesday, August 18th. Finally, Jefferies Financial Group raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their target price for the company from $123.00 to $148.00 in a research note on Tuesday, October 13th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Mid-America Apartment Communities presently has a consensus rating of “Buy” and an average price target of $132.10.
Shares of MAA opened at $118.71 on Monday. The firm has a market cap of $13.58 billion, a PE ratio of 40.38 and a beta of 0.65. The company’s fifty day moving average is $118.75 and its two-hundred day moving average is $115.04. Mid-America Apartment Communities has a fifty-two week low of $82.00 and a fifty-two week high of $148.88. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.72.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.37%. The ex-dividend date is Wednesday, October 14th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 61.07%.
Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. purchased a new stake in Mid-America Apartment Communities during the 1st quarter worth $2,764,000. Ellevest Inc. grew its holdings in Mid-America Apartment Communities by 68.7% during the 2nd quarter. Ellevest Inc. now owns 1,279 shares of the real estate investment trust’s stock worth $147,000 after acquiring an additional 521 shares in the last quarter. Red Door Wealth Management LLC grew its holdings in Mid-America Apartment Communities by 3,748.3% during the 2nd quarter. Red Door Wealth Management LLC now owns 17,933 shares of the real estate investment trust’s stock worth $2,056,000 after acquiring an additional 17,467 shares in the last quarter. AXA grew its holdings in Mid-America Apartment Communities by 48.5% during the 1st quarter. AXA now owns 75,693 shares of the real estate investment trust’s stock worth $7,799,000 after acquiring an additional 24,707 shares in the last quarter. Finally, Manning & Napier Group LLC grew its holdings in Mid-America Apartment Communities by 32.1% during the 2nd quarter. Manning & Napier Group LLC now owns 53,800 shares of the real estate investment trust’s stock worth $6,168,000 after acquiring an additional 13,085 shares in the last quarter. 91.56% of the stock is currently owned by hedge funds and other institutional investors.
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.
Recommended Story: How is a management fee different from a performance fee?
Get a free copy of the Zacks research report on Mid-America Apartment Communities (MAA)
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.
More Stories
Your Guide to Finding Luxury Offices in Abu Dhabi
ab4c07c45fdd1aa39576488f878007071772a8ea
Understanding the Difference Between Fungal and Bacterial Lawn Diseases