Mid-America Apartment Communities (NYSE:MAA) Releases FY 2021 Earnings Guidance

Mid-America Apartment Communities (NYSE:MAA) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $6.350-6.650 for the period. The company issued revenue guidance of -.Mid-America Apartment Communities also updated its Q2 2021 guidance to $1.530-1.690 EPS.

Several equities analysts have recently issued reports on the company. Royal Bank of Canada assumed coverage on Mid-America Apartment Communities in a research report on Tuesday, March 30th. They issued a sector perform rating and a $146.00 price target for the company. Truist raised Mid-America Apartment Communities from a hold rating to a buy rating and lifted their price target for the stock from $151.00 to $178.00 in a research report on Friday, June 4th. They noted that the move was a valuation call. Raymond James lifted their price target on Mid-America Apartment Communities from $145.00 to $175.00 and gave the stock an outperform rating in a research report on Tuesday, May 11th. BMO Capital Markets lowered Mid-America Apartment Communities from an outperform rating to a market perform rating and lifted their price target for the stock from $147.00 to $170.00 in a research report on Tuesday, June 1st. Finally, Truist Securities raised Mid-America Apartment Communities from a hold rating to a buy rating and lifted their price target for the stock from $151.00 to $178.00 in a research report on Friday, June 4th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $149.08.

NYSE MAA traded up $2.84 during trading hours on Thursday, hitting $171.53. The company’s stock had a trading volume of 448,485 shares, compared to its average volume of 655,309. Mid-America Apartment Communities has a 12 month low of $108.06 and a 12 month high of $172.33. The stock has a 50 day moving average price of $155.77. The company has a market capitalization of $19.64 billion, a P/E ratio of 74.90, a P/E/G ratio of 12.69 and a beta of 0.66. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.09 and a current ratio of 0.09.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Tuesday, April 27th. The real estate investment trust reported $0.40 EPS for the quarter, missing the consensus estimate of $1.61 by ($1.21). The business had revenue of $425.01 million during the quarter, compared to the consensus estimate of $423.65 million. Mid-America Apartment Communities had a return on equity of 4.33% and a net margin of 15.76%. Mid-America Apartment Communities’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 earnings per share. On average, equities analysts predict that Mid-America Apartment Communities will post 6.54 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Thursday, July 15th will be paid a dividend of $1.025 per share. The ex-dividend date of this dividend is Wednesday, July 14th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 2.39%. Mid-America Apartment Communities’s dividend payout ratio is currently 63.76%.

In other Mid-America Apartment Communities news, COO Thomas L. Grimes, Jr. sold 683 shares of the business’s stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $146.44, for a total transaction of $100,018.52. Following the completion of the sale, the chief operating officer now directly owns 82,192 shares in the company, valued at approximately $12,036,196.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Russell R. French sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $152.38, for a total value of $761,900.00. Following the sale, the director now owns 9,290 shares of the company’s stock, valued at $1,415,610.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,671 shares of company stock valued at $6,415,840. Corporate insiders own 1.39% of the company’s stock.

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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Earnings History and Estimates for Mid-America Apartment Communities (NYSE:MAA)

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