Mid-America Apartment Communities (NYSE:MAA) Issues Earnings Results

Mid-America Apartment Communities (NYSE:MAA) issued its earnings results on Thursday. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01), Zacks reports. The company had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $2.28 earnings per share.

Mid-America Apartment Communities Stock Performance

Shares of NYSE:MAA traded up $1.32 during trading on Friday, hitting $133.00. 1,071,007 shares of the stock traded hands, compared to its average volume of 832,463. The company has a quick ratio of 0.09, a current ratio of 0.12 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average price of $129.46 and a two-hundred day moving average price of $128.51. Mid-America Apartment Communities has a 52-week low of $115.56 and a 52-week high of $158.46. The company has a market cap of $15.53 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 3.41 and a beta of 0.80.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were given a $1.47 dividend. The ex-dividend date was Friday, April 12th. This represents a $5.88 annualized dividend and a yield of 4.42%. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MAA shares. Morgan Stanley lifted their target price on Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Wedbush restated a “neutral” rating and issued a $135.00 price objective on shares of Mid-America Apartment Communities in a report on Monday, April 29th. Scotiabank raised shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and raised their target price for the company from $133.00 to $147.00 in a research report on Tuesday, January 16th. Piper Sandler restated a “neutral” rating and issued a $140.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Finally, Mizuho dropped their price objective on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 28th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $143.06.

Insider Buying and Selling

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the sale, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have sold 2,807 shares of company stock valued at $353,955. Corporate insiders own 1.30% of the company’s stock.

Mid-America Apartment Communities Company Profile

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.