$405.32 Million in Sales Expected for Mid-America Apartment Communities Inc (MAA) This Quarter

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Wall Street brokerages expect Mid-America Apartment Communities Inc (NYSE:MAA) to announce $405.32 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Mid-America Apartment Communities’ earnings, with estimates ranging from $402.12 million to $410.12 million. Mid-America Apartment Communities posted sales of $390.07 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.9%. The business is scheduled to report its next earnings results on Wednesday, August 7th.

On average, analysts expect that Mid-America Apartment Communities will report full year sales of $1.63 billion for the current fiscal year, with estimates ranging from $1.61 billion to $1.65 billion. For the next financial year, analysts anticipate that the company will post sales of $1.68 billion, with estimates ranging from $1.65 billion to $1.71 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Mid-America Apartment Communities.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.95). Mid-America Apartment Communities had a net margin of 14.86% and a return on equity of 3.68%. The firm had revenue of $401.17 million during the quarter, compared to analyst estimates of $400.91 million. During the same quarter in the previous year, the business posted $1.36 earnings per share. Mid-America Apartment Communities’s revenue for the quarter was up 3.9% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. ValuEngine lowered shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Mizuho upgraded shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Wednesday, May 8th. Royal Bank of Canada raised their price objective on shares of Mid-America Apartment Communities from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, May 20th. Finally, Raymond James lowered shares of Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $105.00 price objective on the stock. in a report on Thursday, April 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $109.54.

Shares of MAA traded down $0.15 during midday trading on Friday, reaching $114.82. The stock had a trading volume of 328,404 shares, compared to its average volume of 525,595. Mid-America Apartment Communities has a 1-year low of $90.53 and a 1-year high of $115.79. The firm has a market capitalization of $13.02 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 4.70 and a beta of 0.48. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 0.72.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a dividend of $0.96 per share. The ex-dividend date is Friday, July 12th. This represents a $3.84 annualized dividend and a yield of 3.34%. Mid-America Apartment Communities’s dividend payout ratio is currently 63.58%.

In other news, CEO H Eric Bolton, Jr. sold 338 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $107.04, for a total value of $36,179.52. Following the completion of the sale, the chief executive officer now directly owns 222,316 shares of the company’s stock, valued at $23,796,704.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Albert M. Campbell III sold 280 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $107.04, for a total transaction of $29,971.20. Following the completion of the sale, the chief financial officer now directly owns 44,582 shares of the company’s stock, valued at $4,772,057.28. The disclosure for this sale can be found here. Insiders have sold a total of 9,679 shares of company stock worth $1,057,456 over the last quarter. 1.30% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MAA. Legal & General Group Plc grew its stake in shares of Mid-America Apartment Communities by 0.4% in the third quarter. Legal & General Group Plc now owns 838,607 shares of the real estate investment trust’s stock worth $84,012,000 after acquiring an additional 3,670 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Mid-America Apartment Communities by 8.8% during the third quarter. Morgan Stanley now owns 1,591,653 shares of the real estate investment trust’s stock valued at $159,452,000 after acquiring an additional 129,006 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of Mid-America Apartment Communities by 4.5% during the fourth quarter. Gateway Investment Advisers LLC now owns 6,305 shares of the real estate investment trust’s stock valued at $603,000 after acquiring an additional 273 shares during the period. Fox Run Management L.L.C. lifted its holdings in shares of Mid-America Apartment Communities by 10.8% during the fourth quarter. Fox Run Management L.L.C. now owns 2,484 shares of the real estate investment trust’s stock valued at $238,000 after acquiring an additional 242 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Mid-America Apartment Communities by 1.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 84,380 shares of the real estate investment trust’s stock valued at $8,075,000 after acquiring an additional 1,200 shares during the period. 92.38% of the stock is owned by institutional investors and hedge funds.

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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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

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