Mid-America Apartment Communities, Inc. (MAA) Expected to Announce Quarterly Sales of $386.31 Million
Wall Street brokerages forecast that Mid-America Apartment Communities, Inc. (NYSE:MAA) will post sales of $386.31 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Mid-America Apartment Communities’ earnings. The highest sales estimate is $388.05 million and the lowest is $382.13 million. Mid-America Apartment Communities posted sales of $276.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 39.5%. The firm is scheduled to announce its next earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full year sales of $386.31 million for the current financial year, with estimates ranging from $1.53 billion to $1.54 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.61 billion per share, with estimates ranging from $1.56 billion to $1.63 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA) last issued its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.45 by $0.03. The firm had revenue of $382.80 million during the quarter, compared to analyst estimates of $382.17 million. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The business’s revenue was up 40.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.54 earnings per share.
A number of analysts recently issued reports on the company. UBS AG downgraded Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 price objective for the company. in a research report on Thursday, July 6th. BidaskClub raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. ValuEngine cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $112.00 target price on shares of Mid-America Apartment Communities in a research note on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a research note on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $109.75.
TRADEMARK VIOLATION NOTICE: “Mid-America Apartment Communities, Inc. (MAA) Expected to Announce Quarterly Sales of $386.31 Million” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of United States and international copyright laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/10/04/mid-america-apartment-communities-inc-maa-expected-to-announce-quarterly-sales-of-386-31-million.html.
Mid-America Apartment Communities (NYSE MAA) opened at 107.18 on Wednesday. Mid-America Apartment Communities has a 1-year low of $85.04 and a 1-year high of $110.95. The company has a 50-day moving average of $106.99 and a 200 day moving average of $103.82. The stock has a market cap of $12.18 billion, a P/E ratio of 49.55 and a beta of 0.37.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be paid a $0.87 dividend. This represents a $3.48 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend is Thursday, October 12th. Mid-America Apartment Communities’s payout ratio is 148.72%.
In related news, Director David P. Stockert sold 6,872 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $106.34, for a total transaction of $730,768.48. Following the sale, the director now directly owns 77,180 shares of the company’s stock, valued at approximately $8,207,321.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.25% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. UBS Asset Management Americas Inc. grew its stake in shares of Mid-America Apartment Communities by 36.6% in the first quarter. UBS Asset Management Americas Inc. now owns 513,788 shares of the real estate investment trust’s stock worth $52,273,000 after acquiring an additional 137,557 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of Mid-America Apartment Communities by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 14,494 shares of the real estate investment trust’s stock valued at $1,475,000 after acquiring an additional 156 shares in the last quarter. Oxford Asset Management acquired a new stake in shares of Mid-America Apartment Communities in the first quarter valued at $1,138,000. Victory Capital Management Inc. raised its stake in shares of Mid-America Apartment Communities by 21.7% in the first quarter. Victory Capital Management Inc. now owns 189,844 shares of the real estate investment trust’s stock valued at $19,315,000 after acquiring an additional 33,840 shares in the last quarter. Finally, Advantus Capital Management Inc raised its stake in shares of Mid-America Apartment Communities by 19.3% in the first quarter. Advantus Capital Management Inc now owns 370,827 shares of the real estate investment trust’s stock valued at $37,728,000 after acquiring an additional 59,899 shares in the last quarter. 91.76% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Mid-America Apartment Communities Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mid-America Apartment Communities Inc. and related companies with MarketBeat.com's FREE daily email newsletter.