Zacks: Brokerages Anticipate Mid-America Apartment Communities (MAA) Will Post Quarterly Sales of $384.99 Million

Analysts forecast that Mid-America Apartment Communities (NYSE:MAA) will announce sales of $384.99 million for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Mid-America Apartment Communities’ earnings, with the highest sales estimate coming in at $389.31 million and the lowest estimate coming in at $380.90 million. Mid-America Apartment Communities posted sales of $378.91 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, May 2nd.

On average, analysts expect that Mid-America Apartment Communities will report full-year sales of $1.57 billion for the current financial year, with estimates ranging from $1.54 billion to $1.60 billion. For the next year, analysts anticipate that the firm will report sales of $1.63 billion per share, with estimates ranging from $1.58 billion to $1.68 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Mid-America Apartment Communities.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by ($0.40). The business had revenue of $382.74 million during the quarter, compared to analyst estimates of $386.33 million. Mid-America Apartment Communities had a net margin of 21.42% and a return on equity of 4.99%.

Several equities research analysts have recently issued reports on MAA shares. Zacks Investment Research downgraded Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Friday, January 12th. Mizuho set a $91.00 target price on shares of Mid-America Apartment Communities and gave the company a “hold” rating in a research note on Friday, February 9th. Stifel Nicolaus upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Friday, January 19th. They noted that the move was a valuation call. Cantor Fitzgerald reduced their target price on shares of Mid-America Apartment Communities from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Finally, SunTrust Banks set a $102.00 target price on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a research note on Monday, January 22nd. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $104.62.

In related news, Director William Reid Sanders purchased 4,100 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was acquired at an average price of $90.98 per share, with a total value of $373,018.00. Following the completion of the acquisition, the director now directly owns 13,109 shares in the company, valued at approximately $1,192,656.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Shorb purchased 500 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was bought at an average cost of $86.53 per share, with a total value of $43,265.00. Following the acquisition, the director now owns 4,750 shares of the company’s stock, valued at $411,017.50. The disclosure for this purchase can be found here. Insiders own 1.26% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. grew its stake in Mid-America Apartment Communities by 246.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 2,758,223 shares of the real estate investment trust’s stock valued at $277,366,000 after purchasing an additional 1,961,027 shares during the last quarter. BlackRock Inc. raised its stake in Mid-America Apartment Communities by 4.2% during the fourth quarter. BlackRock Inc. now owns 11,003,658 shares of the real estate investment trust’s stock valued at $1,106,527,000 after buying an additional 440,089 shares in the last quarter. Duff & Phelps Investment Management Co. raised its stake in Mid-America Apartment Communities by 149.5% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 502,750 shares of the real estate investment trust’s stock valued at $50,557,000 after buying an additional 301,250 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Mid-America Apartment Communities during the fourth quarter valued at approximately $17,103,000. Finally, Brookfield Asset Management Inc. raised its stake in Mid-America Apartment Communities by 6.6% during the fourth quarter. Brookfield Asset Management Inc. now owns 1,552,278 shares of the real estate investment trust’s stock valued at $156,097,000 after buying an additional 96,700 shares in the last quarter. 94.72% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:MAA traded down $1.94 during midday trading on Monday, hitting $90.06. The company’s stock had a trading volume of 225,077 shares, compared to its average volume of 814,650. The company has a market cap of $10,533.29, a P/E ratio of 15.60, a P/E/G ratio of 2.20 and a beta of 0.34. Mid-America Apartment Communities has a fifty-two week low of $85.16 and a fifty-two week high of $110.95.

The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Friday, April 13th will be paid a $0.9225 dividend. This represents a $3.69 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend is Thursday, April 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 62.12%.

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About Mid-America Apartment Communities

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 throughout the United States. As of December 31, 2017, MAA had ownership interest in 100,489 apartment units, including communities currently in development, across 17 states and the District of Columbia.

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