Mid-America Apartment Communities, Inc. (NYSE:MAA) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.39-1.49 for the period, compared to the Thomson Reuters consensus estimate of $1.48. Mid-America Apartment Communities also updated its FY17 guidance to $5.77-5.97 EPS.
Several research analysts have commented on the company. BidaskClub raised Mid-America Apartment Communities from a buy rating to a strong-buy rating in a research note on Tuesday, June 20th. UBS AG downgraded Mid-America Apartment Communities from a buy rating to a neutral rating and set a $107.00 target price for the company. in a research note on Thursday, July 6th. Barclays PLC reissued an overweight rating and set a $117.00 target price (up previously from $116.00) on shares of Mid-America Apartment Communities in a research note on Wednesday, April 19th. Zacks Investment Research downgraded Mid-America Apartment Communities from a buy rating to a hold rating in a research note on Monday, July 17th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $115.00 price objective on shares of Mid-America Apartment Communities in a research note on Monday, July 10th. One investment 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 stock presently has an average rating of Buy and a consensus price target of $107.62.
Mid-America Apartment Communities, Inc. (NYSE:MAA) traded down 0.17% during mid-day trading on Friday, reaching $103.76. 398,976 shares of the company’s stock were exchanged. Mid-America Apartment Communities, Inc. has a one year low of $85.04 and a one year high of $110.95. The stock has a 50-day moving average of $104.55 and a 200-day moving average of $101.35. The stock has a market cap of $11.79 billion, a price-to-earnings ratio of 47.97 and a beta of 0.35.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.03. The business had revenue of $382.80 million for the quarter, compared to analysts’ expectations of $382.17 million. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 EPS. On average, equities research analysts anticipate that Mid-America Apartment Communities, Inc. will post $1.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Friday, July 14th were paid a $0.87 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $3.48 dividend on an annualized basis and a yield of 3.35%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 148.72%.
In related news, Director Gary Shorb purchased 500 shares of the firm’s stock in a transaction on Tuesday, May 9th. The shares were acquired at an average cost of $98.90 per share, with a total value of $49,450.00. Following the purchase, the director now directly owns 4,250 shares of the company’s stock, valued at $420,325. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.25% of the stock is owned by insiders.
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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.
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