Mid-America Apartment Communities, Inc. (MAA) Updates FY17 Earnings Guidance
Mid-America Apartment Communities, Inc. (NYSE:MAA) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.77-5.97 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.89. Mid-America Apartment Communities also updated its Q3 guidance to $1.39-1.49 EPS.
Mid-America Apartment Communities, Inc. (NYSE MAA) traded up 0.82% during mid-day trading on Wednesday, reaching $102.24. The company had a trading volume of 416,077 shares. Mid-America Apartment Communities, Inc. has a 12-month low of $85.04 and a 12-month high of $110.95. The stock has a market capitalization of $11.61 billion, a P/E ratio of 43.32 and a beta of 0.35. The stock has a 50 day moving average price of $105.17 and a 200-day moving average price of $101.06.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. The company had revenue of $375.91 million for the quarter, compared to analyst estimates of $358.74 million. Mid-America Apartment Communities had a return on equity of 5.02% and a net margin of 17.03%. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. Equities analysts anticipate that Mid-America Apartment Communities, Inc. will post $1.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, July 14th will be paid a $0.87 dividend. The ex-dividend date is Wednesday, July 12th. This represents a $3.48 dividend on an annualized basis and a yield of 3.40%. Mid-America Apartment Communities’s dividend payout ratio is currently 139.76%.
MAA has been the topic of a number of research analyst reports. Royal Bank Of Canada restated a buy rating on shares of Mid-America Apartment Communities in a research note on Thursday, April 27th. Zacks Investment Research upgraded Mid-America Apartment Communities from a hold rating to a buy rating and set a $111.00 target price on the stock in a research note on Wednesday, July 12th. Jefferies Group LLC restated a buy rating and issued a $115.00 target price on shares of Mid-America Apartment Communities in a research note on Monday, July 10th. BidaskClub upgraded Mid-America Apartment Communities from a hold rating to a buy rating in a research note on Saturday, June 10th. Finally, Barclays PLC decreased their target price on Mid-America Apartment Communities from $117.00 to $116.00 and set an overweight rating on the stock in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. Mid-America Apartment Communities presently has an average rating of Buy and a consensus target price of $107.62.
In related news, Director Gary Shorb bought 500 shares of the company’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 acquisition, the director now directly owns 4,250 shares of the company’s stock, valued at approximately $420,325. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.25% of the company’s stock.
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About Mid-America Apartment Communities
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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