Analysts Expect Mid-America Apartment Communities Inc (MAA) Will Post Quarterly Sales of $404.76 Million

Wall Street brokerages expect Mid-America Apartment Communities Inc (NYSE:MAA) to post sales of $404.76 million for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Mid-America Apartment Communities’ earnings, with the highest sales estimate coming in at $410.12 million and the lowest estimate coming in at $400.71 million. Mid-America Apartment Communities reported sales of $390.07 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Mid-America Apartment Communities will report full-year sales of $1.62 billion for the current year, with estimates ranging from $1.61 billion to $1.65 billion. For the next year, analysts anticipate that the firm will post sales of $1.67 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 firms that follow Mid-America Apartment Communities.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $401.17 million for the quarter, compared to analysts’ expectations of $400.91 million. During the same period last year, the firm posted $1.36 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 3.9% on a year-over-year basis.

Several equities analysts have recently issued reports on the company. ValuEngine raised Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Mizuho raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $121.00 target price on the stock in a research note on Wednesday, May 8th. Zacks Investment Research cut Mid-America Apartment Communities from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Finally, Raymond James cut Mid-America Apartment Communities from an “outperform” rating to a “market perform” rating and set a $105.00 target price on the stock. in a research note on Thursday, April 4th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. Mid-America Apartment Communities currently has a consensus rating of “Hold” and an average price target of $108.59.

MAA opened at $115.05 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.14 and a current ratio of 0.14. Mid-America Apartment Communities has a 52-week low of $87.47 and a 52-week high of $115.15. The company has a market cap of $13.12 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 4.69 and a beta of 0.48.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a $0.96 dividend. The ex-dividend date was Friday, April 12th. This represents a $3.84 annualized dividend and a yield of 3.34%. Mid-America Apartment Communities’s payout ratio is 63.58%.

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

Hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in shares of Mid-America Apartment Communities by 1.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,579 shares of the real estate investment trust’s stock valued at $1,155,000 after acquiring an additional 103 shares during the last quarter. Anchor Capital Advisors LLC lifted its position in Mid-America Apartment Communities by 1.0% in the 1st quarter. Anchor Capital Advisors LLC now owns 13,402 shares of the real estate investment trust’s stock worth $1,465,000 after buying an additional 130 shares during the last quarter. Clean Yield Group lifted its position in Mid-America Apartment Communities by 0.5% in the 1st quarter. Clean Yield Group now owns 27,065 shares of the real estate investment trust’s stock worth $2,959,000 after buying an additional 140 shares during the last quarter. Advisor Partners LLC lifted its position in Mid-America Apartment Communities by 3.4% in the 4th quarter. Advisor Partners LLC now owns 4,467 shares of the real estate investment trust’s stock worth $427,000 after buying an additional 145 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its position in Mid-America Apartment Communities by 0.9% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 17,306 shares of the real estate investment trust’s stock worth $1,892,000 after buying an additional 151 shares during the last quarter. 93.32% of the stock is currently owned by institutional investors.

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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