Zacks: Brokerages Anticipate Mid-America Apartment Communities, Inc. (NYSE:MAA) to Announce $1.62 Earnings Per Share

Analysts expect Mid-America Apartment Communities, Inc. (NYSE:MAA) to announce earnings per share (EPS) of $1.62 for the current quarter, Zacks reports. Four analysts have issued estimates for Mid-America Apartment Communities’ earnings, with the lowest EPS estimate coming in at $1.60 and the highest estimate coming in at $1.64. Mid-America Apartment Communities also reported earnings of $1.62 per share during the same quarter last year. The firm is scheduled to announce its next quarterly earnings report on Wednesday, May 5th.

On average, analysts expect that Mid-America Apartment Communities will report full-year earnings of $6.54 per share for the current financial year, with EPS estimates ranging from $6.49 to $6.62. For the next fiscal year, analysts anticipate that the business will post earnings of $6.96 per share, with EPS estimates ranging from $6.80 to $7.25. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Mid-America Apartment Communities.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Tuesday, February 2nd. The real estate investment trust reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.19. Mid-America Apartment Communities had a return on equity of 5.63% and a net margin of 19.22%. The company had revenue of $423.66 million for the quarter, compared to analyst estimates of $422.86 million. During the same quarter last year, the firm posted $1.30 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis.

MAA has been the subject of several analyst reports. Truist increased their price target on shares of Mid-America Apartment Communities from $122.00 to $130.00 in a research note on Monday, November 16th. Robert W. Baird cut shares of Mid-America Apartment Communities from an “outperform” rating to a “neutral” rating and increased their price target for the company from $132.00 to $137.00 in a research note on Tuesday, February 9th. Smith Barney Citigroup increased their price target on shares of Mid-America Apartment Communities from $120.00 to $125.00 in a research note on Tuesday, December 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on shares of Mid-America Apartment Communities from $120.00 to $125.00 in a research note on Tuesday, December 15th. Finally, Mizuho increased their price target on shares of Mid-America Apartment Communities from $115.00 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, November 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Mid-America Apartment Communities currently has an average rating of “Buy” and a consensus target price of $129.73.

Mid-America Apartment Communities stock traded up $3.60 during midday trading on Tuesday, hitting $142.29. 24,466 shares of the stock were exchanged, compared to its average volume of 677,354. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.72. The stock’s 50-day simple moving average is $132.53 and its 200 day simple moving average is $123.70. Mid-America Apartment Communities has a fifty-two week low of $82.00 and a fifty-two week high of $148.48. The stock has a market capitalization of $16.27 billion, a price-to-earnings ratio of 49.89 and a beta of 0.66.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 29th. Investors of record on Friday, January 15th were given a dividend of $1.025 per share. The ex-dividend date of this dividend was Thursday, January 14th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 2.88%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.00. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 62.60%.

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 1,376 shares of the stock in a transaction that occurred on Tuesday, January 12th. The shares were sold at an average price of $123.51, for a total transaction of $169,949.76. Following the sale, the chief executive officer now directly owns 273,639 shares in the company, valued at approximately $33,797,152.89. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Melanie Carpenter sold 208 shares of the stock in a transaction that occurred on Tuesday, January 12th. The stock was sold at an average price of $123.51, for a total transaction of $25,690.08. Following the sale, the executive vice president now owns 16,399 shares in the company, valued at $2,025,440.49. The disclosure for this sale can be found here. Insiders have sold a total of 2,387 shares of company stock valued at $294,818 in the last ninety days. 1.34% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Mid-America Apartment Communities by 1.0% during the 3rd quarter. BlackRock Inc. now owns 11,806,156 shares of the real estate investment trust’s stock worth $1,368,923,000 after buying an additional 120,291 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Mid-America Apartment Communities by 1.5% during the 4th quarter. JPMorgan Chase & Co. now owns 3,435,422 shares of the real estate investment trust’s stock worth $435,234,000 after buying an additional 50,714 shares in the last quarter. Northern Trust Corp lifted its holdings in Mid-America Apartment Communities by 19.4% during the 4th quarter. Northern Trust Corp now owns 2,207,230 shares of the real estate investment trust’s stock worth $279,634,000 after buying an additional 358,891 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Mid-America Apartment Communities by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,778,843 shares of the real estate investment trust’s stock worth $206,256,000 after buying an additional 83,862 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Mid-America Apartment Communities by 1.2% during the 3rd quarter. Nuveen Asset Management LLC now owns 1,653,514 shares of the real estate investment trust’s stock worth $191,724,000 after buying an additional 19,274 shares in the last quarter. Institutional investors own 91.38% of the company’s stock.

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 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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