Equities analysts expect Mid-America Apartment Communities Inc (NYSE:MAA) to post earnings of $1.55 per share for the current quarter, according to Zacks. Eight analysts have provided estimates for Mid-America Apartment Communities’ earnings, with the highest EPS estimate coming in at $1.57 and the lowest estimate coming in at $1.51. Mid-America Apartment Communities posted earnings per share of $1.50 in the same quarter last year, which would suggest a positive year over year growth rate of 3.3%. The company is expected to report its next earnings report on Wednesday, October 30th.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full-year earnings of $6.30 per share for the current year, with EPS estimates ranging from $6.25 to $6.37. For the next fiscal year, analysts anticipate that the business will report earnings of $6.49 per share, with EPS estimates ranging from $6.40 to $6.62. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Mid-America Apartment Communities.
MAA has been the topic of several research reports. Scotiabank lowered Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the stock from $114.00 to $107.00 in a research note on Tuesday, July 9th. SunTrust Banks increased their target price on Mid-America Apartment Communities to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Capital One Financial reissued an “equal weight” rating on shares of Mid-America Apartment Communities in a research note on Monday, September 16th. Barclays increased their target price on Mid-America Apartment Communities from $127.00 to $133.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 28th. Finally, KeyCorp increased their target price on Mid-America Apartment Communities from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $116.54.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Mid-America Apartment Communities by 1.9% in the 2nd quarter. Vanguard Group Inc. now owns 18,881,481 shares of the real estate investment trust’s stock valued at $2,223,484,000 after purchasing an additional 346,064 shares in the last quarter. Brookfield Asset Management Inc. raised its position in Mid-America Apartment Communities by 7.6% in the 2nd quarter. Brookfield Asset Management Inc. now owns 2,346,297 shares of the real estate investment trust’s stock valued at $276,300,000 after purchasing an additional 165,702 shares in the last quarter. Northern Trust Corp raised its position in Mid-America Apartment Communities by 5.5% in the 2nd quarter. Northern Trust Corp now owns 1,713,518 shares of the real estate investment trust’s stock valued at $201,785,000 after purchasing an additional 89,273 shares in the last quarter. Wells Fargo & Company MN raised its position in Mid-America Apartment Communities by 1.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,505,728 shares of the real estate investment trust’s stock valued at $177,315,000 after purchasing an additional 28,752 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Mid-America Apartment Communities by 3.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,394,822 shares of the real estate investment trust’s stock valued at $164,255,000 after purchasing an additional 44,631 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors.
Shares of Mid-America Apartment Communities stock traded down $0.03 during trading hours on Tuesday, hitting $129.98. The company’s stock had a trading volume of 478,753 shares, compared to its average volume of 525,344. Mid-America Apartment Communities has a twelve month low of $91.21 and a twelve month high of $131.06. The firm has a fifty day moving average of $127.23 and a 200-day moving average of $117.52. The stock has a market cap of $14.86 billion, a price-to-earnings ratio of 21.52, a P/E/G ratio of 5.30 and a beta of 0.36. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.13 and a current ratio of 0.13.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be paid a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 2.95%. The ex-dividend date is Friday, October 11th. Mid-America Apartment Communities’s payout ratio is 63.58%.
About Mid-America Apartment Communities
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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