Brokerages Anticipate Mid-America Apartment Communities (MAA) Will Announce Quarterly Sales of $389.09 Million

Wall Street analysts forecast that Mid-America Apartment Communities (NYSE:MAA) will report $389.09 million in sales for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Mid-America Apartment Communities’ earnings. The highest sales estimate is $392.27 million and the lowest is $383.72 million. Mid-America Apartment Communities posted sales of $382.79 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 1.6%. The firm is expected to issue its next earnings results on Wednesday, July 25th.

According to Zacks, analysts expect that Mid-America Apartment Communities will report full year sales of $1.57 billion for the current year, with estimates ranging from $1.54 billion to $1.58 billion. For the next financial year, analysts forecast that the business will report sales of $1.62 billion per share, with estimates ranging from $1.58 billion to $1.67 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Mid-America Apartment Communities.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, May 2nd. The real estate investment trust reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $1.46 by ($1.04). The company had revenue of $386.01 million during the quarter, compared to analyst estimates of $384.42 million. Mid-America Apartment Communities had a net margin of 21.72% and a return on equity of 5.10%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $1.46 EPS.

A number of research analysts recently commented on the company. Zacks Investment Research cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. Mizuho set a $91.00 target price on Mid-America Apartment Communities and gave the company a “hold” rating in a research report on Friday, February 9th. Cantor Fitzgerald decreased their target price on Mid-America Apartment Communities from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 6th. SunTrust Banks set a $102.00 target price on Mid-America Apartment Communities and gave the company a “buy” rating in a research report on Monday, January 22nd. Finally, BMO Capital Markets set a $97.00 target price on Mid-America Apartment Communities and gave the company a “hold” rating in a research report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Mid-America Apartment Communities presently has an average rating of “Buy” and an average price target of $104.62.

Mid-America Apartment Communities opened at $87.93 on Monday, Marketbeat.com reports. The stock has a market capitalization of $10.01 billion, a P/E ratio of 14.85, a P/E/G ratio of 2.10 and a beta of 0.34. Mid-America Apartment Communities has a 52 week low of $85.16 and a 52 week high of $110.95.

The company also recently declared a quarterly dividend, which was paid on Monday, April 30th. Stockholders of record on Friday, April 13th were issued a dividend of $0.9225 per share. This represents a $3.69 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, April 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 62.12%.

In other news, Director Claude B. Nielsen sold 7,200 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $86.44, for a total transaction of $622,368.00. Following the sale, the director now directly owns 20,417 shares in the company, valued at $1,764,845.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.26% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Synovus Financial Corp bought a new stake in shares of Mid-America Apartment Communities during the first quarter worth about $129,000. Assetmark Inc. grew its holdings in shares of Mid-America Apartment Communities by 497.4% during the first quarter. Assetmark Inc. now owns 1,607 shares of the real estate investment trust’s stock worth $147,000 after purchasing an additional 1,338 shares during the last quarter. McKinley Carter Wealth Services Inc. bought a new stake in shares of Mid-America Apartment Communities during the first quarter worth about $177,000. Signaturefd LLC bought a new stake in shares of Mid-America Apartment Communities during the first quarter worth about $182,000. Finally, Federated Investors Inc. PA grew its holdings in shares of Mid-America Apartment Communities by 3,870.2% during the first quarter. Federated Investors Inc. PA now owns 2,263 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 2,206 shares during the last quarter. Institutional investors own 91.58% of the company’s stock.

Mid-America Apartment Communities Company Profile

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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Earnings History and Estimates for Mid-America Apartment Communities (NYSE:MAA)

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