Mid-America Apartment Communities, Inc. (NYSE:MAA) – Investment analysts at Jefferies Group dropped their Q4 2017 earnings per share estimates for shares of Mid-America Apartment Communities in a report issued on Thursday. Jefferies Group analyst O. Okusanya now forecasts that the real estate investment trust will post earnings per share of $1.45 for the quarter, down from their previous estimate of $1.49. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Mid-America Apartment Communities’ FY2018 earnings at $6.24 EPS and FY2019 earnings at $6.78 EPS.
A number of other research firms also recently issued reports on MAA. Mizuho reiterated a “hold” rating and issued a $106.00 price objective on shares of Mid-America Apartment Communities in a report on Sunday, October 15th. ValuEngine upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Friday, September 8th. BidaskClub upgraded shares of Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. BTIG Research upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 price objective on the stock in a report on Friday, September 8th. Finally, Stifel Nicolaus began coverage on shares of Mid-America Apartment Communities in a report on Thursday, August 31st. They issued a “hold” rating and a $113.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $110.50.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.61. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The firm had revenue of $384.60 million for the quarter, compared to analyst estimates of $386.96 million. During the same quarter in the previous year, the firm posted $1.47 earnings per share. The business’s revenue was up 38.9% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be issued a dividend of $0.9225 per share. This represents a $3.69 dividend on an annualized basis and a yield of 3.58%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. The ex-dividend date is Thursday, January 11th. Mid-America Apartment Communities’s payout ratio is presently 156.76%.
In other news, Director William Reid Sanders bought 7,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were acquired at an average cost of $100.11 per share, for a total transaction of $700,770.00. Following the completion of the acquisition, the director now owns 8,209 shares in the company, valued at $821,802.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.25% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MAA. Bronfman E.L. Rothschild L.P. increased its holdings in Mid-America Apartment Communities by 32.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 382 shares during the last quarter. Group One Trading L.P. acquired a new position in Mid-America Apartment Communities during the third quarter worth $209,000. IFM Investors Pty Ltd acquired a new position in Mid-America Apartment Communities during the third quarter worth $217,000. Timber Hill LLC acquired a new position in Mid-America Apartment Communities during the third quarter worth $218,000. Finally, Commerce Bank acquired a new position in Mid-America Apartment Communities during the second quarter worth $223,000. Institutional investors and hedge funds own 92.97% of the company’s stock.
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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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