Mid-America Apartment Communities, Inc. (NYSE:MAA) – KeyCorp issued their FY2019 EPS estimates for shares of Mid-America Apartment Communities in a research note issued to investors on Tuesday. KeyCorp analyst A. Wurschmidt forecasts that the real estate investment trust will earn $6.36 per share for the year.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, topping the consensus estimate of $0.39 by $0.61. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The company had revenue of $384.60 million during the quarter, compared to analysts’ expectations of $386.96 million. During the same quarter in the previous year, the company earned $1.47 EPS. Mid-America Apartment Communities’s revenue was up 38.9% on a year-over-year basis.
Shares of Mid-America Apartment Communities (NYSE MAA) traded up $0.98 during trading hours on Thursday, hitting $99.75. 637,099 shares of the stock traded hands, compared to its average volume of 665,122. Mid-America Apartment Communities has a 12 month low of $92.50 and a 12 month high of $110.95. The firm has a market cap of $11,222.94, a PE ratio of 44.93, a price-to-earnings-growth ratio of 2.39 and a beta of 0.34.
Large investors have recently added to or reduced their stakes in the business. Brookfield Asset Management Inc. acquired a new position in shares of Mid-America Apartment Communities in the second quarter valued at about $158,747,000. Cohen & Steers Inc. lifted its position in Mid-America Apartment Communities by 197.0% during the third quarter. Cohen & Steers Inc. now owns 2,025,767 shares of the real estate investment trust’s stock worth $216,514,000 after purchasing an additional 1,343,626 shares during the period. Alliancebernstein L.P. lifted its position in Mid-America Apartment Communities by 90.7% during the second quarter. Alliancebernstein L.P. now owns 2,406,670 shares of the real estate investment trust’s stock worth $253,615,000 after purchasing an additional 1,144,768 shares during the period. Daiwa Securities Group Inc. lifted its position in Mid-America Apartment Communities by 3,863.2% during the third quarter. Daiwa Securities Group Inc. now owns 797,196 shares of the real estate investment trust’s stock worth $85,205,000 after purchasing an additional 777,081 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Mid-America Apartment Communities by 4,202.0% during the second quarter. Janus Henderson Group PLC now owns 565,631 shares of the real estate investment trust’s stock worth $59,607,000 after purchasing an additional 552,483 shares during the period. Hedge funds and other institutional investors own 92.70% of the company’s stock.
In other news, Director William Reid Sanders bought 7,000 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were acquired at an average cost of $100.11 per share, for a total transaction of $700,770.00. Following the completion of the acquisition, the director now owns 8,209 shares in the company, valued at $821,802.99. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.25% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, January 12th will be issued a dividend of $0.9225 per share. This represents a $3.69 dividend on an annualized basis and a yield of 3.70%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. The ex-dividend date is Thursday, January 11th. Mid-America Apartment Communities’s payout ratio is presently 156.76%.
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.
What are top analysts saying about Mid-America Apartment Communities? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Mid-America Apartment Communities and related companies.