Wedbush Analysts Decrease Earnings Estimates for MAA

Mid-America Apartment Communities, Inc. (NYSE:MAA) – Wedbush cut their Q4 2024 earnings per share estimates for Mid-America Apartment Communities in a research note issued to investors on Wednesday, November 6th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $2.23 for the quarter, down from their prior forecast of $2.26. Wedbush has a “Outperform” rating and a $184.00 price target on the stock. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $8.88 per share. Wedbush also issued estimates for Mid-America Apartment Communities’ FY2025 earnings at $8.99 EPS.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a return on equity of 8.38% and a net margin of 23.84%. The business had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. During the same period in the previous year, the business earned $2.29 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a report on Friday, November 1st. Wells Fargo & Company upgraded Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $138.00 to $174.00 in a research note on Monday, August 26th. StockNews.com cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Tuesday. Truist Financial upped their target price on Mid-America Apartment Communities from $156.00 to $167.00 and gave the company a “buy” rating in a research report on Monday, August 26th. Finally, JMP Securities raised their price target on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $161.69.

Mid-America Apartment Communities Price Performance

Shares of NYSE MAA opened at $154.69 on Thursday. Mid-America Apartment Communities has a fifty-two week low of $118.72 and a fifty-two week high of $167.39. The company has a market cap of $18.08 billion, a PE ratio of 34.92, a P/E/G ratio of 2.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.09 and a current ratio of 0.09. The business has a 50-day simple moving average of $157.59 and a two-hundred day simple moving average of $146.74.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 132.73%.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of large investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new stake in Mid-America Apartment Communities in the 3rd quarter valued at $164,000. Swiss National Bank grew its position in shares of Mid-America Apartment Communities by 0.3% in the third quarter. Swiss National Bank now owns 346,676 shares of the real estate investment trust’s stock valued at $55,087,000 after purchasing an additional 1,100 shares during the period. Natixis Advisors LLC increased its stake in shares of Mid-America Apartment Communities by 194.4% during the third quarter. Natixis Advisors LLC now owns 98,193 shares of the real estate investment trust’s stock worth $15,603,000 after purchasing an additional 64,839 shares in the last quarter. Empowered Funds LLC raised its position in shares of Mid-America Apartment Communities by 39.5% during the 3rd quarter. Empowered Funds LLC now owns 2,624 shares of the real estate investment trust’s stock worth $417,000 after purchasing an additional 743 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Mid-America Apartment Communities by 7.6% during the 3rd quarter. CIBC Asset Management Inc now owns 17,546 shares of the real estate investment trust’s stock worth $2,788,000 after purchasing an additional 1,240 shares during the last quarter. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Company Profile

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.