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

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

Mid-America Apartment Communities Trading Up 1.0 %

Shares of MAA stock traded up $1.32 on Friday, reaching $133.00. 1,071,007 shares of the company’s stock were exchanged, compared to its average volume of 832,463. The company’s fifty day simple moving average is $129.46 and its 200 day simple moving average is $128.55. The stock has a market capitalization of $15.53 billion, a PE ratio of 27.88, a P/E/G ratio of 3.38 and a beta of 0.80. The company has a current ratio of 0.12, a quick ratio of 0.09 and a debt-to-equity ratio of 0.74. Mid-America Apartment Communities has a 52 week low of $115.56 and a 52 week high of $158.46.

Mid-America Apartment Communities Dividend Announcement

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

Insider Buying and Selling at Mid-America Apartment Communities

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

Wall Street Analyst Weigh In

Several brokerages have commented on MAA. Mizuho decreased their price target 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. Deutsche Bank Aktiengesellschaft initiated coverage on Mid-America Apartment Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 target price on the stock. Wedbush restated a “neutral” rating and set a $135.00 price target on shares of Mid-America Apartment Communities in a report on Monday, April 29th. Truist Financial reduced their price objective on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. Finally, Morgan Stanley increased 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. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $143.06.

About Mid-America Apartment Communities

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.