Mid-America Apartment Communities, Inc. (NYSE:MAA) – SunTrust Banks reduced their FY2017 EPS estimates for Mid-America Apartment Communities in a research note issued on Tuesday. SunTrust Banks analyst M. Lewis now forecasts that the real estate investment trust will post earnings per share of $5.97 for the year, down from their prior estimate of $5.99. SunTrust Banks also issued estimates for Mid-America Apartment Communities’ FY2019 earnings at $7.03 EPS.

A number of other research firms have also weighed in on MAA. BMO Capital Markets reissued a “buy” rating and issued a $105.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, July 27th. Stifel Nicolaus assumed coverage on shares of Mid-America Apartment Communities in a research note on Thursday, August 31st. They set a “hold” rating and a $113.00 price objective for the company. Zacks Investment Research raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a research note on Wednesday, July 12th. BTIG Research raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $116.00 price objective for the company in a research note on Friday, September 8th. Finally, Jefferies Group LLC reaffirmed 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. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Mid-America Apartment Communities currently has an average rating of “Buy” and an average price target of $109.75.

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Shares of Mid-America Apartment Communities (MAA) opened at 107.88 on Thursday. The stock has a market cap of $12.26 billion, a PE ratio of 49.88 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. The stock has a 50 day moving average of $107.01 and a 200-day moving average of $103.85.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data 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. Mid-America Apartment Communities had a net margin of 15.80% and a return on equity of 4.31%. The company had revenue of $382.80 million during the quarter, compared to analysts’ expectations of $382.17 million. During the same quarter in the prior year, the company earned $1.54 EPS. The firm’s revenue was up 40.6% on a year-over-year basis.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Mid-America Apartment Communities by 1.4% during the second quarter. Vanguard Group Inc. now owns 20,004,797 shares of the real estate investment trust’s stock valued at $2,108,105,000 after purchasing an additional 280,900 shares during the period. BlackRock Inc. boosted its stake in shares of Mid-America Apartment Communities by 1.7% during the second quarter. BlackRock Inc. now owns 10,441,227 shares of the real estate investment trust’s stock valued at $1,100,295,000 after purchasing an additional 176,128 shares during the period. State Street Corp boosted its stake in shares of Mid-America Apartment Communities by 2.0% during the first quarter. State Street Corp now owns 6,727,050 shares of the real estate investment trust’s stock valued at $684,403,000 after purchasing an additional 134,757 shares during the period. APG Asset Management US Inc. boosted its stake in shares of Mid-America Apartment Communities by 7.7% during the second quarter. APG Asset Management US Inc. now owns 3,639,414 shares of the real estate investment trust’s stock valued at $383,521,000 after purchasing an additional 260,897 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Mid-America Apartment Communities by 90.7% during the second quarter. Alliancebernstein L.P. now owns 2,406,670 shares of the real estate investment trust’s stock valued at $253,615,000 after purchasing an additional 1,144,768 shares during the period. 91.76% of the stock is owned by hedge funds and other institutional investors.

In other news, Director David P. Stockert sold 6,872 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 77,180 shares of the company’s stock, valued at $8,207,321.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.25% of the stock is currently owned by insiders.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, October 13th will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Thursday, October 12th. Mid-America Apartment Communities’s dividend payout ratio is currently 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.

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

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