Mid-America Apartment Communities, Inc. (MAA) Announces Earnings Results
Mid-America Apartment Communities, Inc. (NYSE:MAA) posted its quarterly earnings results on Wednesday. The real estate investment trust reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.04, Briefing.com reports. The business had revenue of $382.80 million during the quarter, compared to analysts’ expectations of $382.17 million. Mid-America Apartment Communities had a net margin of 17.03% and a return on equity of 5.02%. The business’s quarterly revenue was up 40.6% on a year-over-year basis. During the same period last year, the company posted $1.54 earnings per share. Mid-America Apartment Communities updated its Q3 guidance to $1.39-1.49 EPS and its FY17 guidance to $5.77-5.97 EPS.
Mid-America Apartment Communities (NYSE MAA) traded up 0.82% on Wednesday, reaching $102.24. 416,077 shares of the company traded hands. The company has a market capitalization of $11.61 billion, a PE ratio of 43.32 and a beta of 0.35. Mid-America Apartment Communities has a one year low of $85.04 and a one year high of $110.95. The stock’s 50 day moving average price is $104.97 and its 200 day moving average price is $101.10.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be issued a dividend of $0.87 per share. This represents a $3.48 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Wednesday, July 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 139.76%.
In other Mid-America Apartment Communities news, Director Gary Shorb purchased 500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was bought at an average cost of $98.90 per share, for a total transaction of $49,450.00. Following the purchase, the director now directly owns 4,250 shares in the company, valued at $420,325. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.25% of the stock is owned by company insiders.
MAA has been the subject of a number of research reports. Jefferies Group LLC raised their price target on shares of Mid-America Apartment Communities from $109.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 30th. Barclays PLC reiterated an “overweight” rating and set a $117.00 price objective (up from $116.00) on shares of Mid-America Apartment Communities in a report on Wednesday, April 19th. Royal Bank Of Canada reiterated a “buy” rating on shares of Mid-America Apartment Communities in a report on Thursday, April 27th. BidaskClub upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a report on Saturday, June 10th. Finally, UBS AG cut 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 report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Mid-America Apartment Communities currently has a consensus rating of “Buy” and an average price target of $107.62.
Mid-America Apartment Communities Company Profile
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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