Mid-America Apartment Communities, Inc. (NYSE:MAA) – Research analysts at SunTrust Banks reduced their FY2018 earnings estimates for Mid-America Apartment Communities in a research note issued to investors on Wednesday. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will earn $6.50 per share for the year, down from their previous forecast of $6.53. SunTrust Banks also issued estimates for Mid-America Apartment Communities’ FY2019 earnings at $7.00 EPS.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.03. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The firm had revenue of $382.80 million during the quarter, compared to the consensus estimate of $382.17 million. During the same period last year, the firm posted $1.54 EPS. The firm’s quarterly revenue was up 40.6% on a year-over-year basis.

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Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Mid-America Apartment Communities from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reiterated a “buy” rating on shares of Mid-America Apartment Communities in a research note on Thursday, April 27th. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research note on Wednesday, July 12th. Jefferies Group LLC reiterated a “buy” rating and set a $115.00 price objective on shares of Mid-America Apartment Communities in a research note on Monday, July 10th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $105.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $107.62.

Mid-America Apartment Communities (NYSE:MAA) opened at 103.76 on Monday. Mid-America Apartment Communities has a one year low of $85.04 and a one year high of $110.95. The company’s 50-day moving average is $104.55 and its 200 day moving average is $101.35. The company has a market capitalization of $11.79 billion, a P/E ratio of 47.97 and a beta of 0.35.

Several large investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System increased its stake in Mid-America Apartment Communities by 1.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 218,766 shares of the real estate investment trust’s stock worth $23,054,000 after buying an additional 3,814 shares during the last quarter. BB&T Securities LLC bought a new stake in Mid-America Apartment Communities during the second quarter worth $237,000. ZWJ Investment Counsel Inc. bought a new stake in Mid-America Apartment Communities during the second quarter worth $327,000. Cidel Asset Management Inc. increased its stake in Mid-America Apartment Communities by 2.1% in the second quarter. Cidel Asset Management Inc. now owns 132,701 shares of the real estate investment trust’s stock worth $13,984,000 after buying an additional 2,750 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Mid-America Apartment Communities by 8.0% in the second quarter. Legal & General Group Plc now owns 772,019 shares of the real estate investment trust’s stock worth $81,355,000 after buying an additional 56,939 shares during the last quarter. Institutional investors own 92.30% of the company’s stock.

In related news, Director Gary Shorb purchased 500 shares of Mid-America Apartment Communities stock in a transaction dated Tuesday, May 9th. The shares were bought at an average cost of $98.90 per share, for a total transaction of $49,450.00. Following the purchase, the director now owns 4,250 shares in the company, valued at approximately $420,325. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.25% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Friday, July 14th were paid a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.35%. Mid-America Apartment Communities’s payout ratio is currently 148.72%.

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.

Earnings History and Estimates for Mid-America Apartment Communities (NYSE:MAA)

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