Mid-America Apartment Communities, Inc. (NYSE:MAA) Expected to Announce Earnings of $1.92 Per Share

Wall Street analysts expect Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) to announce earnings per share (EPS) of $1.92 for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Mid-America Apartment Communities’ earnings, with estimates ranging from $1.89 to $1.95. Mid-America Apartment Communities reported earnings per share of $1.64 during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.1%. The firm is expected to report its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, 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 financial year, analysts expect that the business will post earnings of $8.68 per share, with EPS estimates ranging from $8.21 to $8.91. Zacks Investment Research’s earnings per share 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 – Get Rating) last posted its earnings results on Wednesday, February 2nd. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.87 by ($0.27). The business had revenue of $463.58 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company posted $1.65 EPS.

A number of analysts recently issued reports on MAA shares. Mizuho dropped their target price 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. Truist Financial lowered their price objective on shares of Mid-America Apartment Communities from $231.00 to $220.00 in a research report on Thursday, March 3rd. JPMorgan Chase & Co. increased their price objective on shares of Mid-America Apartment Communities from $210.00 to $238.00 in a research report on Tuesday, January 18th. Finally, StockNews.com assumed coverage on shares of Mid-America Apartment Communities in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Buy” and a consensus price target of $211.45.

MAA traded down $0.77 on Friday, reaching $205.39. 785,133 shares of the company’s stock were exchanged, compared to its average volume of 849,079. The company’s 50 day moving average is $208.63 and its 200-day moving average is $208.14. The company has a market cap of $23.69 billion, a price-to-earnings ratio of 44.55, a PEG ratio of 12.81 and a beta of 0.74. Mid-America Apartment Communities has a twelve month low of $147.51 and a twelve month high of $231.63. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.22 and a current ratio of 0.22.

The firm also recently announced 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. This represents a $4.35 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Wednesday, April 13th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 94.36%.

In related news, Director Monica Houle Mcgurk sold 3,670 shares of the firm’s stock in a transaction on Friday, February 4th. The stock was sold at an average price of $215.39, for a total transaction of $790,481.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.39% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp lifted its stake in Mid-America Apartment Communities by 29.1% in the third quarter. Mackenzie Financial Corp now owns 11,073 shares of the real estate investment trust’s stock valued at $2,068,000 after buying an additional 2,493 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in Mid-America Apartment Communities in the third quarter valued at $1,868,000. Nordea Investment Management AB lifted its stake in Mid-America Apartment Communities by 17.0% in the fourth quarter. Nordea Investment Management AB now owns 6,275 shares of the real estate investment trust’s stock valued at $1,438,000 after buying an additional 914 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in Mid-America Apartment Communities by 112.2% in the third quarter. Balyasny Asset Management LLC now owns 77,470 shares of the real estate investment trust’s stock valued at $14,468,000 after buying an additional 40,969 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Mid-America Apartment Communities by 11.4% in the fourth quarter. Quadrant Capital Group LLC now owns 832 shares of the real estate investment trust’s stock valued at $191,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Mid-America Apartment Communities Company Profile (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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