Equities research analysts expect Mid-America Apartment Communities, Inc. (NYSE:MAA – Get Rating) to report $485.15 million in sales for the current quarter, Zacks reports. Six analysts have provided estimates for Mid-America Apartment Communities’ earnings. The lowest sales estimate is $476.17 million and the highest is $489.90 million. Mid-America Apartment Communities posted sales of $436.93 million during the same quarter last year, which suggests a positive year over year growth rate of 11%. The firm is expected to report its next earnings results on Monday, January 1st.
On average, analysts expect that Mid-America Apartment Communities will report full-year sales of $1.96 billion for the current fiscal year, with estimates ranging from $1.94 billion to $1.97 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.07 billion, with estimates ranging from $2.01 billion to $2.10 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA – Get Rating) last announced its earnings results on Wednesday, April 27th. The real estate investment trust reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.13. Mid-America Apartment Communities had a net margin of 32.66% and a return on equity of 9.77%. During the same quarter in the prior year, the firm earned $1.64 earnings per share.
In related news, COO Thomas L. Grimes, Jr. sold 20,000 shares of the firm’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $202.50, for a total transaction of $4,050,000.00. Following the transaction, the chief operating officer now directly owns 44,983 shares of the company’s stock, valued at $9,109,057.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.34% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in MAA. Amundi Pioneer Asset Management Inc. raised its position in Mid-America Apartment Communities by 18.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 140,458 shares of the real estate investment trust’s stock worth $15,357,000 after acquiring an additional 21,688 shares during the period. Morgan Stanley raised its position in Mid-America Apartment Communities by 162.0% in the second quarter. Morgan Stanley now owns 430,122 shares of the real estate investment trust’s stock worth $72,441,000 after acquiring an additional 265,978 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Mid-America Apartment Communities by 9.3% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 3,355 shares of the real estate investment trust’s stock worth $626,000 after acquiring an additional 285 shares during the period. PNC Financial Services Group Inc. raised its position in Mid-America Apartment Communities by 6.2% in the third quarter. PNC Financial Services Group Inc. now owns 13,142 shares of the real estate investment trust’s stock worth $2,454,000 after acquiring an additional 768 shares during the period. Finally, Advisor Group Holdings Inc. raised its position in shares of Mid-America Apartment Communities by 16.0% in the third quarter. Advisor Group Holdings Inc. now owns 37,157 shares of the real estate investment trust’s stock valued at $6,946,000 after purchasing an additional 5,118 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE MAA opened at $184.55 on Monday. Mid-America Apartment Communities has a twelve month low of $154.07 and a twelve month high of $231.63. The firm has a fifty day simple moving average of $206.26 and a 200 day simple moving average of $208.97. The company has a market capitalization of $21.30 billion, a PE ratio of 35.77, a P/E/G ratio of 11.55 and a beta of 0.73. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.74.
The company also recently declared a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Thursday, April 14th were given a dividend of $1.0875 per share. This represents a $4.35 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Wednesday, April 13th. Mid-America Apartment Communities’s payout ratio is currently 84.30%.
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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