Zacks: Brokerages Anticipate Mid-America Apartment Communities Inc (MAA) Will Post Quarterly Sales of $395.52 Million

Analysts predict that Mid-America Apartment Communities Inc (NYSE:MAA) will post $395.52 million in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Mid-America Apartment Communities’ earnings, with estimates ranging from $392.02 million to $398.32 million. Mid-America Apartment Communities posted sales of $384.55 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.9%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, October 31st.

On average, analysts expect that Mid-America Apartment Communities will report full year sales of $1.57 billion for the current financial year, with estimates ranging from $1.56 billion to $1.58 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.63 billion, with estimates ranging from $1.59 billion to $1.66 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Mid-America Apartment Communities.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.48 by ($1.00). The firm had revenue of $390.10 million for the quarter, compared to analyst estimates of $389.62 million. Mid-America Apartment Communities had a net margin of 22.36% and a return on equity of 5.28%. Mid-America Apartment Communities’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 EPS.



A number of brokerages have weighed in on MAA. Robert W. Baird reaffirmed a “buy” rating and issued a $105.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, August 16th. SunTrust Banks reaffirmed a “buy” rating and issued a $105.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, August 9th. Stifel Nicolaus cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Thursday, August 2nd. Capital One Financial began coverage on Mid-America Apartment Communities in a research report on Monday, October 22nd. They issued an “equal weight” rating and a $101.50 price target for the company. Finally, Scotiabank began coverage on Mid-America Apartment Communities in a research report on Tuesday, October 16th. They issued a “sector perform” rating for the company. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $103.05.

In related news, Director Russell R. French sold 4,993 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $100.69, for a total transaction of $502,745.17. Following the completion of the transaction, the director now owns 17,770 shares of the company’s stock, valued at approximately $1,789,261.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Stockert sold 1,617 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $101.59, for a total value of $164,271.03. Following the transaction, the director now directly owns 75,563 shares of the company’s stock, valued at approximately $7,676,445.17. The disclosure for this sale can be found here. 1.26% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MAA. Cbre Clarion Securities LLC lifted its position in shares of Mid-America Apartment Communities by 490.5% during the 2nd quarter. Cbre Clarion Securities LLC now owns 1,670,247 shares of the real estate investment trust’s stock worth $168,144,000 after purchasing an additional 1,387,389 shares during the last quarter. Centersquare Investment Management LLC acquired a new position in shares of Mid-America Apartment Communities during the 2nd quarter worth about $74,941,000. AMP Capital Investors Ltd lifted its position in shares of Mid-America Apartment Communities by 494.9% during the 2nd quarter. AMP Capital Investors Ltd now owns 619,040 shares of the real estate investment trust’s stock worth $62,320,000 after purchasing an additional 514,981 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Mid-America Apartment Communities by 1,097.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 385,973 shares of the real estate investment trust’s stock worth $38,935,000 after purchasing an additional 353,733 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in shares of Mid-America Apartment Communities by 192.5% during the 1st quarter. Allianz Asset Management GmbH now owns 330,505 shares of the real estate investment trust’s stock worth $30,156,000 after purchasing an additional 217,525 shares during the last quarter. 93.07% of the stock is owned by institutional investors and hedge funds.

MAA traded down $2.16 during trading on Tuesday, reaching $97.87. 693,454 shares of the stock traded hands, compared to its average volume of 633,869. The stock has a market cap of $11.14 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.31 and a beta of 0.28. Mid-America Apartment Communities has a fifty-two week low of $85.16 and a fifty-two week high of $106.77. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.70.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th will be given a $0.9225 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 3.77%. Mid-America Apartment Communities’s dividend payout ratio is currently 62.12%.

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 June 30, 2018, MAA had ownership interest in 101,362 apartment units, including communities currently in development, across 17 states and the District of Columbia.

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