Mid-America Apartment Communities, Inc. (NYSE:MAA) Forecasted to Earn Q3 2024 Earnings of $2.18 Per Share

Mid-America Apartment Communities, Inc. (NYSE:MAA) – Investment analysts at Wedbush reduced their Q3 2024 EPS estimates for shares of Mid-America Apartment Communities in a note issued to investors on Monday, May 6th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will earn $2.18 per share for the quarter, down from their prior estimate of $2.27. Wedbush has a “Outperform” rating and a $154.00 price target on the stock. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $8.91 per share. Wedbush also issued estimates for Mid-America Apartment Communities’ Q4 2024 earnings at $2.18 EPS.

A number of other equities research analysts have also recently issued reports on MAA. Piper Sandler reissued a “neutral” rating and issued a $140.00 target price on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Morgan Stanley increased their target price on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Mid-America Apartment Communities in a report on Tuesday, January 30th. They set a “hold” rating and a $139.00 target price on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Finally, Scotiabank raised Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and lifted their price objective for the company from $133.00 to $147.00 in a report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $144.18.

Mid-America Apartment Communities Stock Performance

Shares of NYSE MAA opened at $132.97 on Wednesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 3.41 and a beta of 0.80. The stock’s fifty day moving average price is $130.09 and its two-hundred day moving average price is $128.61. Mid-America Apartment Communities has a one year low of $115.56 and a one year high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing the consensus estimate of $2.23 by ($1.01). The firm had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. Mid-America Apartment Communities’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.28 EPS.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 4.42%. The ex-dividend date was Friday, April 12th. Mid-America Apartment Communities’s payout ratio is 123.27%.

Insider Transactions at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 2,807 shares of company stock valued at $353,955. 1.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MAA. First United Bank & Trust bought a new stake in Mid-America Apartment Communities during the 4th quarter worth $27,000. DecisionPoint Financial LLC acquired a new stake in shares of Mid-America Apartment Communities during the first quarter valued at about $26,000. Mather Group LLC. bought a new stake in shares of Mid-America Apartment Communities during the first quarter worth about $32,000. Cullen Frost Bankers Inc. acquired a new position in shares of Mid-America Apartment Communities in the third quarter valued at approximately $35,000. Finally, CVA Family Office LLC bought a new position in Mid-America Apartment Communities in the 4th quarter valued at approximately $40,000. 93.60% of the stock is currently owned by institutional investors.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.