Mid-America Apartment Communities Inc (NYSE:MAA) – Capital One Financial decreased their FY2020 EPS estimates for Mid-America Apartment Communities in a report issued on Sunday, January 12th. Capital One Financial analyst N. Malkin now anticipates that the real estate investment trust will post earnings per share of $6.55 for the year, down from their prior forecast of $6.56. Capital One Financial has a “Overweight” rating on the stock. Capital One Financial also issued estimates for Mid-America Apartment Communities’ Q4 2020 earnings at $1.71 EPS, Q1 2021 earnings at $1.69 EPS, Q2 2021 earnings at $1.69 EPS, Q3 2021 earnings at $1.71 EPS and FY2021 earnings at $6.91 EPS.
MAA has been the topic of several other research reports. Scotiabank raised shares of Mid-America Apartment Communities from an “underperform” rating to a “sector perform” rating and set a $138.00 price target on the stock in a research report on Tuesday, November 26th. Barclays set a $141.00 price target on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a research report on Friday, October 11th. Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a research report on Friday, November 8th. They set a “neutral” rating and a $149.00 price target on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $135.00 price target on shares of Mid-America Apartment Communities in a research report on Wednesday, December 18th. Finally, KeyCorp lifted their price target on shares of Mid-America Apartment Communities from $131.00 to $138.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $130.18.
MAA stock opened at $133.53 on Tuesday. The firm has a market cap of $15.10 billion, a PE ratio of 21.24, a PEG ratio of 5.18 and a beta of 0.29. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.08 and a current ratio of 0.08. The firm’s 50 day moving average price is $132.00 and its 200-day moving average price is $128.87. Mid-America Apartment Communities has a one year low of $95.80 and a one year high of $140.15.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.55 by ($0.87). The firm had revenue of $415.63 million for the quarter, compared to analysts’ expectations of $411.16 million. Mid-America Apartment Communities had a net margin of 16.25% and a return on equity of 3.84%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.50 EPS.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be given a $1.00 dividend. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.96. The ex-dividend date is Tuesday, January 14th. This represents a $4.00 dividend on an annualized basis and a yield of 3.00%. Mid-America Apartment Communities’s payout ratio is presently 63.58%.
In other Mid-America Apartment Communities news, Director David P. Stockert sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $136.46, for a total value of $682,300.00. Following the sale, the director now owns 68,778 shares of the company’s stock, valued at $9,385,445.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Claude B. Nielsen sold 3,423 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $137.04, for a total value of $469,087.92. Following the completion of the sale, the director now directly owns 13,740 shares in the company, valued at approximately $1,882,929.60. The disclosure for this sale can be found here. In the last three months, insiders sold 8,561 shares of company stock worth $1,169,407. 1.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DNB Asset Management AS raised its position in Mid-America Apartment Communities by 8.8% in the fourth quarter. DNB Asset Management AS now owns 12,400 shares of the real estate investment trust’s stock valued at $1,635,000 after purchasing an additional 1,006 shares during the period. Diversified Trust Co purchased a new stake in Mid-America Apartment Communities in the fourth quarter valued at approximately $216,000. State of Alaska Department of Revenue raised its position in Mid-America Apartment Communities by 27.7% in the fourth quarter. State of Alaska Department of Revenue now owns 91,466 shares of the real estate investment trust’s stock valued at $12,059,000 after purchasing an additional 19,833 shares during the period. Keeley Teton Advisors LLC raised its position in Mid-America Apartment Communities by 7.8% in the third quarter. Keeley Teton Advisors LLC now owns 8,182 shares of the real estate investment trust’s stock valued at $1,064,000 after purchasing an additional 592 shares during the period. Finally, Millennium Management LLC raised its position in Mid-America Apartment Communities by 120.4% in the third quarter. Millennium Management LLC now owns 417,974 shares of the real estate investment trust’s stock valued at $54,340,000 after purchasing an additional 228,331 shares during the period. 92.84% of the stock is currently owned by institutional investors.
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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