Mid-America Apartment Communities, Inc. (NYSE:MAA) – Stock analysts at SunTrust Banks decreased their FY2017 EPS estimates for Mid-America Apartment Communities in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will post earnings of $5.93 per share for the year, down from their prior forecast of $5.97. SunTrust Banks has a “Buy” rating and a $109.00 price target on the stock. SunTrust Banks also issued estimates for Mid-America Apartment Communities’ Q4 2017 earnings at $1.49 EPS, FY2018 earnings at $6.34 EPS, FY2019 earnings at $6.69 EPS, FY2020 earnings at $6.95 EPS and FY2021 earnings at $7.17 EPS.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.61. The business had revenue of $384.60 million for the quarter, compared to the consensus estimate of $386.96 million. Mid-America Apartment Communities had a return on equity of 4.22% and a net margin of 16.73%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.47 earnings per share. ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://www.com-unik.info/2017/11/06/fy2017-eps-estimates-for-mid-america-apartment-communities-inc-decreased-by-analyst-maa.html.
Other equities research analysts have also issued reports about the stock. BidaskClub raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Royal Bank Of Canada reissued a “buy” rating and set a $112.00 price objective on shares of Mid-America Apartment Communities in a report on Wednesday, August 9th. BMO Capital Markets restated a “buy” rating and set a $105.00 price target on shares of Mid-America Apartment Communities in a research report on Thursday, July 27th. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a research report on Wednesday, July 12th. Finally, Jefferies Group LLC restated a “buy” rating and set a $115.00 price target on shares of Mid-America Apartment Communities in a research report on Monday, July 10th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $108.92.
Shares of Mid-America Apartment Communities (MAA) opened at $103.39 on Monday. The firm has a market cap of $11,747.90, a price-to-earnings ratio of 17.41, a PEG ratio of 2.50 and a beta of 0.35. Mid-America Apartment Communities has a 1-year low of $87.59 and a 1-year high of $110.95.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 13th were issued a $0.87 dividend. The ex-dividend date was Thursday, October 12th. This represents a $3.48 dividend on an annualized basis and a yield of 3.37%. Mid-America Apartment Communities’s payout ratio is 156.76%.
In other news, Director William Reid Sanders purchased 7,000 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was acquired at an average price of $100.11 per share, for a total transaction of $700,770.00. Following the acquisition, the director now directly owns 8,209 shares of the company’s stock, valued at $821,802.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David P. Stockert sold 6,872 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total transaction of $730,768.48. Following the sale, the director now owns 77,180 shares of the company’s stock, valued at approximately $8,207,321.20. The disclosure for this sale can be found here. 1.25% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Mid-America Apartment Communities by 32.9% during the 2nd 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. Commerce Bank acquired a new stake in shares of Mid-America Apartment Communities during the 2nd quarter worth approximately $223,000. Parametrica Management Ltd acquired a new stake in shares of Mid-America Apartment Communities during the 3rd quarter worth approximately $236,000. BB&T Securities LLC acquired a new stake in shares of Mid-America Apartment Communities during the 2nd quarter worth approximately $237,000. Finally, MAI Capital Management acquired a new stake in shares of Mid-America Apartment Communities during the 2nd quarter worth approximately $247,000. Institutional investors and hedge funds own 91.27% of the company’s stock.
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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