FY2018 EPS Estimates for Mid-America Apartment Communities, Inc. (MAA) Cut by Cantor Fitzgerald

Mid-America Apartment Communities, Inc. (NYSE:MAA) – Research analysts at Cantor Fitzgerald lowered their FY2018 earnings per share estimates for Mid-America Apartment Communities in a note issued to investors on Tuesday. Cantor Fitzgerald analyst G. Mehta now forecasts that the real estate investment trust will post earnings of $6.47 per share for the year, down from their previous estimate of $6.50.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.03. The company had revenue of $382.80 million during the quarter, compared to analyst estimates of $382.17 million. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. The firm’s quarterly revenue was up 40.6% on a year-over-year basis. During the same quarter last year, the company earned $1.54 earnings per share.

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A number of other research analysts have also weighed in on the company. BidaskClub lowered Mid-America Apartment Communities from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Royal Bank Of Canada restated a “buy” rating on shares of Mid-America Apartment Communities in a research report on Thursday, April 27th. Zacks Investment Research upgraded Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research report on Wednesday, July 12th. Jefferies Group LLC restated a “buy” rating and set a $115.00 price objective on shares of Mid-America Apartment Communities in a research report on Monday, July 10th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $105.00 price target on shares of Mid-America Apartment Communities in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $107.62.

Mid-America Apartment Communities (NYSE:MAA) traded down 0.17% during midday trading on Wednesday, reaching $103.76. The company had a trading volume of 398,976 shares. Mid-America Apartment Communities has a 52 week low of $85.04 and a 52 week high of $110.95. The firm has a 50-day moving average price of $104.55 and a 200-day moving average price of $101.35. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of 47.97 and a beta of 0.35.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were given a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.35%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 148.72%.

In other news, Director Gary Shorb acquired 500 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was acquired at an average price of $98.90 per share, for a total transaction of $49,450.00. Following the completion of the transaction, the director now owns 4,250 shares in the company, valued at approximately $420,325. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.25% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. UBS Asset Management Americas Inc. boosted its stake in shares of Mid-America Apartment Communities by 55.2% in the fourth quarter. UBS Asset Management Americas Inc. now owns 376,231 shares of the real estate investment trust’s stock valued at $36,841,000 after buying an additional 133,851 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in Mid-America Apartment Communities during the fourth quarter valued at $807,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Mid-America Apartment Communities during the fourth quarter valued at $360,000. Macquarie Group Ltd. boosted its stake in Mid-America Apartment Communities by 88.8% in the fourth quarter. Macquarie Group Ltd. now owns 59,012 shares of the real estate investment trust’s stock valued at $5,778,000 after buying an additional 27,752 shares during the period. Finally, Pensionfund Sabic boosted its stake in Mid-America Apartment Communities by 8.1% in the first quarter. Pensionfund Sabic now owns 13,350 shares of the real estate investment trust’s stock valued at $1,358,000 after buying an additional 1,000 shares during the period. 92.22% of the stock is owned by institutional investors.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.