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.
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