$383.11 Million in Sales Expected for Mid-America Apartment Communities Inc (MAA) This Quarter

Equities research analysts expect Mid-America Apartment Communities Inc (NYSE:MAA) to report $383.11 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Mid-America Apartment Communities’ earnings, with the highest sales estimate coming in at $384.80 million and the lowest estimate coming in at $380.78 million. Mid-America Apartment Communities reported sales of $272.24 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 40.7%. The business is scheduled to issue its next quarterly earnings results on Wednesday, July 26th.

On average, analysts expect that Mid-America Apartment Communities will report full year sales of $383.11 million for the current year, with estimates ranging from $1.53 billion to $1.55 billion. For the next year, analysts forecast that the firm will report sales of $1.62 billion per share, with estimates ranging from $1.60 billion to $1.65 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Mid-America Apartment Communities.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, April 26th. The real estate investment trust reported $1.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.02. The firm had revenue of $375.91 million during the quarter, compared to analysts’ expectations of $358.74 million. Mid-America Apartment Communities had a net margin of 18.83% and a return on equity of 6.14%. Mid-America Apartment Communities’s quarterly revenue was up 39.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 EPS.

MAA has been the subject of several recent research reports. Barclays PLC reiterated an “overweight” rating and set a $117.00 target price (up previously from $116.00) on shares of Mid-America Apartment Communities in a research note on Wednesday, April 19th. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Tuesday, February 14th. Royal Bank of Canada reiterated a “buy” rating on shares of Mid-America Apartment Communities in a research note on Thursday, April 27th. Jefferies Group LLC boosted their target price on shares of Mid-America Apartment Communities from $109.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 30th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $105.00 target price on shares of Mid-America Apartment Communities in a research note on Friday, February 17th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $108.00.

Shares of Mid-America Apartment Communities (NYSE MAA) traded up 2.05% during mid-day trading on Wednesday, reaching $104.29. 900,271 shares of the company were exchanged. The firm has a market capitalization of $11.84 billion, a price-to-earnings ratio of 44.19 and a beta of 0.29. The company’s 50-day moving average is $100.26 and its 200 day moving average is $98.04. Mid-America Apartment Communities has a 12 month low of $85.04 and a 12 month high of $110.01.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be issued a $0.87 dividend. This represents a $3.48 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, July 12th. Mid-America Apartment Communities’s payout ratio is currently 128.41%.

In related news, Director Gary Shorb acquired 500 shares of Mid-America Apartment Communities stock in a transaction that occurred on Tuesday, May 9th. The stock was acquired at an average price of $98.90 per share, with a total value of $49,450.00. Following the completion of the acquisition, the director now directly owns 4,250 shares of the company’s stock, valued at approximately $420,325. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David P. Stockert sold 9,033 shares of the company’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $101.00, for a total transaction of $912,333.00. Following the completion of the sale, the director now directly owns 82,528 shares of the company’s stock, valued at approximately $8,335,328. The disclosure for this sale can be found here. Corporate insiders own 1.66% of the company’s stock.

A number of large investors have recently bought and sold shares of MAA. United Capital Financial Advisers LLC increased its stake in Mid-America Apartment Communities by 1.1% in the first quarter. United Capital Financial Advisers LLC now owns 4,057 shares of the real estate investment trust’s stock valued at $413,000 after buying an additional 45 shares during the last quarter. Quadrant Capital Management LLC increased its stake in shares of Mid-America Apartment Communities by 0.4% in the first quarter. Quadrant Capital Management LLC now owns 14,172 shares of the real estate investment trust’s stock worth $1,442,000 after buying an additional 50 shares during the last quarter. Cleararc Capital Inc. increased its stake in shares of Mid-America Apartment Communities by 1.9% in the first quarter. Cleararc Capital Inc. now owns 2,797 shares of the real estate investment trust’s stock worth $285,000 after buying an additional 53 shares during the last quarter. KCG Holdings Inc. increased its stake in shares of Mid-America Apartment Communities by 2.3% in the first quarter. KCG Holdings Inc. now owns 3,215 shares of the real estate investment trust’s stock worth $327,000 after buying an additional 72 shares during the last quarter. Finally, Trust Co. of Toledo NA OH increased its stake in shares of Mid-America Apartment Communities by 1.1% in the first quarter. Trust Co. of Toledo NA OH now owns 6,823 shares of the real estate investment trust’s stock worth $695,000 after buying an additional 74 shares during the last quarter. 97.98% of the stock is owned by institutional investors and hedge funds.

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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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