Wall Street brokerages expect Mid-America Apartment Communities Inc (NYSE:MAA) to announce earnings of $1.54 per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Mid-America Apartment Communities’ earnings, with the lowest EPS estimate coming in at $1.51 and the highest estimate coming in at $1.57. Mid-America Apartment Communities reported earnings per share of $1.50 during the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The company is expected to announce its next earnings results on Wednesday, October 30th.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full year earnings of $6.28 per share for the current fiscal year, with EPS estimates ranging from $6.20 to $6.31. For the next year, analysts anticipate that the business will report earnings of $6.46 per share, with EPS estimates ranging from $6.37 to $6.55. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover Mid-America Apartment Communities.
A number of analysts recently weighed in on the company. Scotiabank downgraded Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the stock from $114.00 to $107.00 in a research report on Tuesday, July 9th. Barclays boosted their target price on shares of Mid-America Apartment Communities from $127.00 to $133.00 and gave the company an “overweight” rating in a report on Wednesday, August 28th. KeyCorp upped their price target on shares of 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. Zacks Investment Research raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research report on Tuesday, May 28th. Finally, Royal Bank of Canada boosted their target price on Mid-America Apartment Communities from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $116.54.
In other news, Director David P. Stockert sold 2,047 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $120.84, for a total value of $247,359.48. Following the completion of the transaction, the director now directly owns 65,240 shares in the company, valued at $7,883,601.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.
Several institutional investors have recently bought and sold shares of MAA. Johnson Financial Group Inc. acquired a new position in Mid-America Apartment Communities during the second quarter worth $29,000. JJJ Advisors Inc. purchased a new stake in Mid-America Apartment Communities during the 2nd quarter worth about $31,000. Massmutual Trust Co. FSB ADV increased its holdings in Mid-America Apartment Communities by 193.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 305 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 201 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in Mid-America Apartment Communities during the 2nd quarter worth about $44,000. Finally, CSat Investment Advisory L.P. increased its holdings in Mid-America Apartment Communities by 73.2% during the 2nd quarter. CSat Investment Advisory L.P. now owns 395 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 93.01% 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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