Mid-America Apartment Communities, Inc. (MAA) Releases FY17 Earnings Guidance
Mid-America Apartment Communities, Inc. (NYSE:MAA) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.77-5.97 for the period, compared to the Thomson Reuters consensus estimate of $5.92. Mid-America Apartment Communities also updated its Q3 guidance to $1.39-1.49 EPS.
A number of research firms have recently commented on MAA. BidaskClub raised shares of Mid-America Apartment Communities from a buy rating to a strong-buy rating in a research note on Tuesday, June 20th. UBS AG downgraded shares of Mid-America Apartment Communities from a buy rating to a neutral rating and set a $107.00 price objective for the company. in a research note on Thursday, July 6th. Royal Bank Of Canada reaffirmed a buy rating and set a $112.00 price objective on shares of Mid-America Apartment Communities in a research note on Wednesday, August 9th. ValuEngine raised shares of Mid-America Apartment Communities from a hold rating to a buy rating in a research note on Friday, September 8th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $120.00 price objective on shares of Mid-America Apartment Communities in a research note on Sunday, September 10th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $109.75.
Mid-America Apartment Communities, Inc. (NYSE:MAA) traded down 0.03% during mid-day trading on Thursday, reaching $107.27. 690,524 shares of the company were exchanged. Mid-America Apartment Communities, Inc. has a 12 month low of $85.04 and a 12 month high of $110.95. The stock’s 50-day moving average is $106.26 and its 200-day moving average is $103.30. The company has a market cap of $12.19 billion, a P/E ratio of 49.59 and a beta of 0.35.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.45 by $0.03. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. The business had revenue of $382.80 million during the quarter, compared to analyst estimates of $382.17 million. During the same period in the previous year, the company earned $1.54 EPS. The firm’s revenue was up 40.6% on a year-over-year basis. Equities analysts expect that Mid-America Apartment Communities, Inc. will post $1.68 earnings per share for the current year.
In other news, Director David P. Stockert sold 6,872 shares of the business’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 directly owns 77,180 shares in the company, valued at $8,207,321.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.25% of the company’s stock.
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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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