Mid-America Apartment Communities Inc (NYSE:MAA) – Investment analysts at Jefferies Financial Group upped their FY2019 earnings per share (EPS) estimates for shares of Mid-America Apartment Communities in a report issued on Monday, May 13th. Jefferies Financial Group analyst O. Okusanya now expects that the real estate investment trust will post earnings of $6.25 per share for the year, up from their prior estimate of $6.18. Jefferies Financial Group also issued estimates for Mid-America Apartment Communities’ Q1 2020 earnings at $1.60 EPS, Q1 2021 earnings at $1.67 EPS and FY2021 earnings at $6.77 EPS.
Several other research analysts have also recently weighed in on the stock. ValuEngine raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Monday. Mizuho raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Wednesday, May 8th. Raymond James cut shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $105.00 price objective for the company. in a report on Thursday, April 4th. They noted that the move was a valuation call. Janney Montgomery Scott cut shares of Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $110.00 price objective for the company. in a report on Wednesday, April 3rd. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $108.59.
MAA opened at $111.48 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.14 and a quick ratio of 0.12. Mid-America Apartment Communities has a twelve month low of $87.47 and a twelve month high of $112.04. The company has a market cap of $12.66 billion, a PE ratio of 18.46, a P/E/G ratio of 4.66 and a beta of 0.48.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.95). Mid-America Apartment Communities had a net margin of 14.86% and a return on equity of 3.68%. The company had revenue of $401.17 million for the quarter, compared to analysts’ expectations of $400.91 million. During the same period in the previous year, the firm earned $1.36 earnings per share. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Friday, April 12th. This represents a $3.84 dividend on an annualized basis and a yield of 3.44%. Mid-America Apartment Communities’s dividend payout ratio is currently 63.58%.
In other Mid-America Apartment Communities news, Director Claude B. Nielsen sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $109.83, for a total transaction of $713,895.00. Following the completion of the sale, the director now directly owns 12,117 shares of the company’s stock, valued at $1,330,810.11. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David P. Stockert sold 1,777 shares of the company’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $103.68, for a total transaction of $184,239.36. Following the sale, the director now directly owns 64,786 shares of the company’s stock, valued at $6,717,012.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,456 shares of company stock valued at $1,241,695. 1.30% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth $35,000. Zions Bancorporation N.A. increased its stake in shares of Mid-America Apartment Communities by 733.0% in the first quarter. Zions Bancorporation N.A. now owns 783 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 689 shares in the last quarter. Doyle Wealth Management purchased a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth $85,000. Welch Group LLC purchased a new stake in shares of Mid-America Apartment Communities in the first quarter worth $143,000. Finally, Starr International Co. Inc. purchased a new stake in shares of Mid-America Apartment Communities in the first quarter worth $148,000. 94.08% of the stock is owned by institutional investors and hedge funds.
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.