Research Analysts Set Expectations for Mid-America Apartment Communities, Inc.’s Q2 2024 Earnings (NYSE:MAA)

Mid-America Apartment Communities, Inc. (NYSE:MAA) – Equities research analysts at Wedbush lowered their Q2 2024 EPS estimates for shares of Mid-America Apartment Communities in a report released on Monday, May 6th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings per share of $2.19 for the quarter, down from their prior forecast of $2.24. Wedbush currently 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’ FY2024 earnings at $8.77 EPS and FY2025 earnings at $9.12 EPS.

MAA has been the topic of several other reports. The Goldman Sachs Group restated a “buy” rating and set a $149.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft assumed 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. Mizuho dropped their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Scotiabank upgraded shares of 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. Finally, Truist Financial lowered their price objective on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Mid-America Apartment Communities has an average rating of “Hold” and a consensus price target of $144.18.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $132.97 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $15.53 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 3.41 and a beta of 0.80. The company’s 50 day moving average price is $130.09 and its two-hundred day moving average price is $128.61. Mid-America Apartment Communities has a 52 week low of $115.56 and a 52 week high of $158.46.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.28 earnings per share.

Mid-America Apartment Communities Announces Dividend

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

Insider Activity at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 2,807 shares of company stock valued at $353,955. 1.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mid-America Apartment Communities

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Mid-America Apartment Communities by 397.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 62,537 shares of the real estate investment trust’s stock worth $8,229,000 after buying an additional 49,962 shares in the last quarter. Entropy Technologies LP acquired a new stake in shares of Mid-America Apartment Communities during the first quarter worth $1,211,000. Russell Investments Group Ltd. lifted its holdings in shares of Mid-America Apartment Communities by 16.7% during the first quarter. Russell Investments Group Ltd. now owns 311,466 shares of the real estate investment trust’s stock worth $40,901,000 after buying an additional 44,623 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of Mid-America Apartment Communities by 3.5% during the first quarter. QRG Capital Management Inc. now owns 27,065 shares of the real estate investment trust’s stock worth $3,561,000 after buying an additional 909 shares in the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Mid-America Apartment Communities by 14.2% during the first quarter. Inspire Investing LLC now owns 11,914 shares of the real estate investment trust’s stock worth $1,568,000 after buying an additional 1,481 shares in the last quarter. 93.60% of the stock is owned by institutional investors.

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.