Equities research analysts predict that Mid-America Apartment Communities Inc (NYSE:MAA) will report sales of $405.46 million for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Mid-America Apartment Communities’ earnings. The highest sales estimate is $410.12 million and the lowest is $402.12 million. Mid-America Apartment Communities reported sales of $390.07 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.9%. The firm is scheduled to announce its next earnings report after the market closes on Wednesday, July 31st.

According to Zacks, analysts expect that Mid-America Apartment Communities will report full-year sales of $1.63 billion for the current year, with estimates ranging from $1.61 billion to $1.65 billion. For the next year, analysts anticipate that the business will report sales of $1.68 billion, with estimates ranging from $1.65 billion to $1.71 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Mid-America Apartment Communities.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.95). The company had revenue of $401.17 million during the quarter, compared to analyst estimates of $400.91 million. Mid-America Apartment Communities had a net margin of 14.86% and a return on equity of 3.68%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.36 EPS.

Several equities research analysts recently commented on the company. BMO Capital Markets reaffirmed a “hold” rating and set a $54.00 target price on shares of Apartment Investment and Management in a research note on Monday, March 25th. Zacks Investment Research cut Hanger from a “hold” rating to a “sell” rating in a research note on Tuesday, May 28th. Raymond James reaffirmed a “buy” rating on shares of Teck Resources in a research note on Thursday, April 4th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Monday, May 13th. Finally, Scotiabank cut Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the stock from $114.00 to $107.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $112.18.

In other Mid-America Apartment Communities news, Director Claude B. Nielsen sold 6,500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $109.83, for a total value of $713,895.00. Following the completion of the sale, the director now owns 12,117 shares of the company’s stock, valued at $1,330,810.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in Mid-America Apartment Communities by 8.4% in the fourth quarter. Geode Capital Management LLC now owns 1,833,523 shares of the real estate investment trust’s stock valued at $175,217,000 after acquiring an additional 142,096 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Mid-America Apartment Communities by 1.4% in the first quarter. Wells Fargo & Company MN now owns 1,476,976 shares of the real estate investment trust’s stock valued at $161,479,000 after purchasing an additional 19,837 shares in the last quarter. FMR LLC lifted its holdings in shares of Mid-America Apartment Communities by 28.2% in the first quarter. FMR LLC now owns 1,352,227 shares of the real estate investment trust’s stock valued at $147,839,000 after purchasing an additional 297,563 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Mid-America Apartment Communities by 46.1% in the first quarter. Janus Henderson Group PLC now owns 1,186,322 shares of the real estate investment trust’s stock valued at $129,702,000 after purchasing an additional 374,503 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $105,674,000. 92.47% of the stock is owned by hedge funds and other institutional investors.

Shares of MAA stock traded down $1.76 on Thursday, hitting $121.80. The company had a trading volume of 17,377 shares, compared to its average volume of 518,504. The stock has a market cap of $13.82 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 4.99 and a beta of 0.40. The company’s 50-day moving average price is $117.49. 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 twelve month low of $91.21 and a twelve month high of $123.88.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $0.96 dividend. The ex-dividend date is Friday, July 12th. This represents a $3.84 dividend on an annualized basis and a yield of 3.15%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 63.58%.

About Mid-America Apartment Communities

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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