Wall Street analysts predict that Mid-America Apartment Communities Inc (NYSE:MAA) will post earnings per share of $1.49 for the current quarter, Zacks reports. Five analysts have provided estimates for Mid-America Apartment Communities’ earnings, with the lowest EPS estimate coming in at $1.44 and the highest estimate coming in at $1.53. Mid-America Apartment Communities reported earnings per share of $1.46 during the same quarter last year, which suggests a positive year-over-year growth rate of 2.1%. The firm is expected to report its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full year earnings of $6.12 per share for the current fiscal year, with EPS estimates ranging from $5.99 to $6.22. For the next financial year, analysts forecast that the business will report earnings of $6.46 per share, with EPS estimates ranging from $6.22 to $6.68. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Mid-America Apartment Communities.
A number of equities analysts have weighed in on the stock. ValuEngine lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Barclays decreased their price target on shares of Mid-America Apartment Communities from $113.00 to $112.00 and set an “overweight” rating on the stock in a report on Tuesday, January 30th. Jefferies Group reiterated a “hold” rating and issued a $99.00 price target on shares of Mid-America Apartment Communities in a report on Monday. DA Davidson set a $110.00 price target on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a report on Tuesday, January 30th. Finally, Cantor Fitzgerald decreased their price target on shares of Mid-America Apartment Communities from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Mid-America Apartment Communities has an average rating of “Buy” and an average target price of $107.62.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 12th were issued a dividend of $0.9225 per share. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $3.69 annualized dividend and a dividend yield of 4.20%. Mid-America Apartment Communities’s payout ratio is presently 129.02%.
In other news, Director William Reid Sanders acquired 4,100 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were purchased at an average price of $90.98 per share, for a total transaction of $373,018.00. Following the acquisition, the director now directly owns 13,109 shares of the company’s stock, valued at approximately $1,192,656.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased a total of 4,216 shares of company stock worth $382,935 in the last 90 days. Company insiders own 1.25% of the company’s stock.
A number of hedge funds have recently modified their holdings of MAA. Daiwa Securities Group Inc. lifted its holdings in Mid-America Apartment Communities by 246.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,758,223 shares of the real estate investment trust’s stock worth $277,366,000 after buying an additional 1,961,027 shares in the last quarter. Brookfield Asset Management Inc. acquired a new position in Mid-America Apartment Communities in the 2nd quarter worth $158,747,000. Cohen & Steers Inc. lifted its holdings in Mid-America Apartment Communities by 197.0% in the 3rd quarter. Cohen & Steers Inc. now owns 2,025,767 shares of the real estate investment trust’s stock worth $216,514,000 after buying an additional 1,343,626 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Mid-America Apartment Communities by 4,202.0% in the 2nd quarter. Janus Henderson Group PLC now owns 565,631 shares of the real estate investment trust’s stock worth $59,607,000 after buying an additional 552,483 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Mid-America Apartment Communities by 15.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,862,188 shares of the real estate investment trust’s stock worth $303,363,000 after purchasing an additional 391,336 shares during the last quarter. Hedge funds and other institutional investors own 92.95% of the company’s stock.
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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