Brokerages predict that Mid-America Apartment Communities (NYSE:MAA) will report sales of $384.99 million for the current quarter, Zacks reports. Six analysts have made estimates for Mid-America Apartment Communities’ earnings. The highest sales estimate is $389.31 million and the lowest is $380.90 million. Mid-America Apartment Communities reported sales of $378.91 million during the same quarter last year, which would suggest a positive year over year growth rate of 1.6%. The company is scheduled to announce its next earnings results on Wednesday, April 25th.
On average, analysts expect that Mid-America Apartment Communities will report full-year sales of $384.99 million for the current fiscal year, with estimates ranging from $1.54 billion to $1.60 billion. For the next financial year, analysts forecast that the firm will report sales of $1.63 billion per share, with estimates ranging from $1.58 billion to $1.68 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.48 by ($0.40). Mid-America Apartment Communities had a return on equity of 4.99% and a net margin of 21.42%. The business had revenue of $382.74 million for the quarter, compared to analyst estimates of $386.33 million.
MAA has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Friday, January 12th. SunTrust Banks set a $102.00 price objective on shares of Mid-America Apartment Communities and gave the stock a “buy” rating in a research note on Monday, January 22nd. Jefferies Group restated a “hold” rating and set a $99.00 price objective on shares of Mid-America Apartment Communities in a research note on Monday, February 5th. BMO Capital Markets set a $97.00 price objective on shares of Mid-America Apartment Communities and gave the stock a “hold” rating in a research note on Friday, March 2nd. Finally, Barclays reduced their price objective on shares of Mid-America Apartment Communities from $113.00 to $112.00 and set an “overweight” rating for the company in a research note on Tuesday, January 30th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $104.62.
Shares of Mid-America Apartment Communities stock traded down $0.99 during trading hours on Friday, reaching $90.25. 195,422 shares of the company’s stock were exchanged, compared to its average volume of 835,712. Mid-America Apartment Communities has a fifty-two week low of $85.16 and a fifty-two week high of $110.95. The company has a market cap of $10,372.98, a price-to-earnings ratio of 15.36, a P/E/G ratio of 2.17 and a beta of 0.33.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, April 13th will be paid a $0.9225 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.69 annualized dividend and a yield of 4.09%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 62.12%.
In related news, Director Gary Shorb purchased 500 shares of the stock in a transaction on Friday, February 9th. The shares were purchased at an average cost of $86.53 per share, with a total value of $43,265.00. Following the acquisition, the director now directly owns 4,750 shares in the company, valued at $411,017.50. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William Reid Sanders purchased 4,100 shares of the stock in a transaction on Friday, February 2nd. The stock was bought at an average cost of $90.98 per share, for a total transaction of $373,018.00. Following the completion of the acquisition, the director now owns 13,109 shares in the company, valued at $1,192,656.82. The disclosure for this purchase can be found here. Company insiders own 1.25% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB boosted its position in shares of Mid-America Apartment Communities by 8.5% during the 4th quarter. Xact Kapitalforvaltning AB now owns 15,829 shares of the real estate investment trust’s stock worth $1,592,000 after acquiring an additional 1,238 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Mid-America Apartment Communities by 1.4% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 92,175 shares of the real estate investment trust’s stock worth $9,269,000 after acquiring an additional 1,247 shares in the last quarter. Brookfield Asset Management Inc. boosted its position in shares of Mid-America Apartment Communities by 6.6% during the 4th quarter. Brookfield Asset Management Inc. now owns 1,552,278 shares of the real estate investment trust’s stock worth $156,097,000 after acquiring an additional 96,700 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Mid-America Apartment Communities during the 4th quarter worth approximately $3,535,000. Finally, Gotham Asset Management LLC boosted its position in shares of Mid-America Apartment Communities by 10.3% during the 4th quarter. Gotham Asset Management LLC now owns 15,380 shares of the real estate investment trust’s stock worth $1,547,000 after acquiring an additional 1,438 shares in the last quarter. 94.70% 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 throughout the United States. As of December 31, 2017, MAA had ownership interest in 100,489 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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