Mid-America Apartment Communities, Inc. (NYSE:MAA) - Investment analysts at DA Davidson increased their FY2017 earnings per share (EPS) estimates for shares of Mid-America Apartment Communities in a report issued on Friday. DA Davidson analyst J. Lykins now expects that the real estate investment trust will post earnings per share of $5.94 for the year, up from their previous forecast of $5.92. DA Davidson also issued estimates for Mid-America Apartment Communities’ Q4 2017 earnings at $1.51 EPS, Q1 2018 earnings at $1.51 EPS, Q2 2018 earnings at $1.55 EPS, Q3 2018 earnings at $1.59 EPS and Q4 2018 earnings at $1.62 EPS.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.03. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The company had revenue of $382.80 million for the quarter, compared to analyst estimates of $382.17 million. During the same quarter last year, the firm posted $1.54 earnings per share. The company’s quarterly revenue was up 40.6% compared to the same quarter last year.
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Several other equities research analysts also recently commented on the company. BMO Capital Markets reissued a “buy” rating and issued a $105.00 price objective on shares of Mid-America Apartment Communities in a report on Thursday, July 27th. Barclays PLC cut their price objective on Mid-America Apartment Communities from $117.00 to $116.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. Zacks Investment Research downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Monday, July 17th. BidaskClub downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $115.00 price objective on shares of Mid-America Apartment Communities in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $107.62.
Mid-America Apartment Communities (NYSE MAA) traded up 0.30% during trading on Monday, hitting $103.84. 39,715 shares of the stock were exchanged. The firm’s 50 day moving average price is $104.65 and its 200-day moving average price is $101.28. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 48.01 and a beta of 0.35. Mid-America Apartment Communities has a 1-year low of $85.04 and a 1-year high of $110.95.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. ING Groep NV boosted its stake in Mid-America Apartment Communities by 0.4% in the second quarter. ING Groep NV now owns 5,816 shares of the real estate investment trust’s stock valued at $613,000 after buying an additional 22 shares in the last quarter. United Capital Financial Advisers LLC boosted its stake in Mid-America Apartment Communities by 1.1% in the first quarter. United Capital Financial Advisers LLC now owns 4,057 shares of the real estate investment trust’s stock valued at $413,000 after buying an additional 45 shares in the last quarter. BB&T Corp boosted its stake in Mid-America Apartment Communities by 0.9% in the second quarter. BB&T Corp now owns 5,314 shares of the real estate investment trust’s stock valued at $560,000 after buying an additional 47 shares in the last quarter. Quadrant Capital Management LLC boosted its stake in Mid-America Apartment Communities by 0.4% in the first quarter. Quadrant Capital Management LLC now owns 14,172 shares of the real estate investment trust’s stock valued at $1,442,000 after buying an additional 50 shares in the last quarter. Finally, Cleararc Capital Inc. boosted its stake in Mid-America Apartment Communities by 1.9% in the first quarter. Cleararc Capital Inc. now owns 2,797 shares of the real estate investment trust’s stock valued at $285,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 92.22% of the company’s stock.
In other news, Director Gary Shorb acquired 500 shares of the stock in a transaction on Tuesday, May 9th. The shares were purchased at an average price of $98.90 per share, for a total transaction of $49,450.00. Following the transaction, the director now directly owns 4,250 shares of the company’s stock, valued at $420,325. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.25% of the stock is owned by company insiders.
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 dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Wednesday, July 12th. Mid-America Apartment Communities’s payout ratio is 148.72%.
Mid-America Apartment Communities Company Profile
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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