Equities Analysts Set Expectations for Mid-America Apartment Communities, Inc.’s Q3 2017 Earnings (MAA)
Mid-America Apartment Communities, Inc. (NYSE:MAA) – Equities research analysts at SunTrust Banks lowered their Q3 2017 EPS estimates for shares of Mid-America Apartment Communities in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will post earnings of $1.47 per share for the quarter, down from their prior estimate of $1.49. SunTrust Banks also issued estimates for Mid-America Apartment Communities’ FY2021 earnings at $7.60 EPS.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.03. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. The business had revenue of $382.80 million for the quarter, compared to analyst estimates of $382.17 million. During the same period in the previous year, the company posted $1.54 EPS. The company’s revenue was up 40.6% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: “Equities Analysts Set Expectations for Mid-America Apartment Communities, Inc.’s Q3 2017 Earnings (MAA)” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright law. The original version of this story can be viewed at https://www.americanbankingnews.com/2017/10/04/equities-analysts-set-expectations-for-mid-america-apartment-communities-inc-s-q3-2017-earnings-maa.html.
Other research analysts also recently issued research reports about the company. BidaskClub raised Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 20th. UBS AG downgraded Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 price target for the company. in a research note on Thursday, July 6th. ValuEngine downgraded Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Royal Bank Of Canada reiterated a “buy” rating and set a $112.00 price target on shares of Mid-America Apartment Communities in a report on Wednesday, August 9th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $120.00 price target on shares of Mid-America Apartment Communities in a report on Sunday, September 10th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Mid-America Apartment Communities currently has a consensus rating of “Buy” and a consensus target price of $109.75.
Shares of Mid-America Apartment Communities (MAA) opened at 107.18 on Wednesday. The company’s 50-day moving average is $106.99 and its 200-day moving average is $103.82. The firm has a market cap of $12.18 billion, a P/E ratio of 49.55 and a beta of 0.37. Mid-America Apartment Communities has a 52-week low of $85.04 and a 52-week high of $110.95.
A number of institutional investors have recently made changes to their positions in the business. Bronfman E.L. Rothschild L.P. grew its holdings in Mid-America Apartment Communities by 32.9% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 382 shares during the last quarter. Commerce Bank acquired a new stake in shares of Mid-America Apartment Communities in the second quarter worth $223,000. BB&T Securities LLC acquired a new stake in shares of Mid-America Apartment Communities in the second quarter worth $237,000. MAI Capital Management acquired a new stake in shares of Mid-America Apartment Communities in the second quarter worth $247,000. Finally, RFG Advisory Group LLC acquired a new stake in shares of Mid-America Apartment Communities in the second quarter worth $282,000. 91.76% of the stock is owned by hedge funds and other institutional investors.
In related news, Director David P. Stockert sold 6,872 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $106.34, for a total value of $730,768.48. Following the completion of the sale, the director now directly owns 77,180 shares in the company, valued at approximately $8,207,321.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.25% of the stock is currently owned by company insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be paid a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Thursday, October 12th. Mid-America Apartment Communities’s payout ratio is 148.72%.
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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