Brokers Offer Predictions for Mid-America Apartment Communities, Inc.’s FY2018 Earnings (MAA)
Mid-America Apartment Communities, Inc. (NYSE:MAA) – Equities research analysts at Cantor Fitzgerald cut their FY2018 earnings estimates for shares of Mid-America Apartment Communities in a note issued to investors on Monday. Cantor Fitzgerald analyst G. Mehta now expects that the real estate investment trust will post earnings of $6.23 per share for the year, down from their previous forecast of $6.47.
A number of other analysts also recently weighed in on MAA. Jefferies Group LLC reissued a “buy” rating and set a $115.00 target price on shares of Mid-America Apartment Communities in a research report on Monday, July 10th. 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 report on Friday, September 8th. ValuEngine raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating in a research report on Friday, September 8th. Zacks Investment Research downgraded shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Finally, Stifel Nicolaus began coverage on shares of Mid-America Apartment Communities in a research report on Thursday, August 31st. They set a “hold” rating and a $113.00 price objective for the company. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $109.09.
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Mid-America Apartment Communities (NYSE MAA) traded down 0.07% during midday trading on Tuesday, reaching $101.92. 311,363 shares of the company’s stock traded hands. The company has a market cap of $11.58 billion, a P/E ratio of 47.12 and a beta of 0.37. The stock has a 50-day moving average of $106.54 and a 200 day moving average of $104.38. Mid-America Apartment Communities has a 52-week low of $87.59 and a 52-week high of $110.95.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.61. The firm had revenue of $384.60 million during the quarter, compared to analysts’ expectations of $386.96 million. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.47 EPS.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, October 13th will be given a $0.87 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $3.48 dividend on an annualized basis and a yield of 3.41%. Mid-America Apartment Communities’s payout ratio is 156.76%.
In related news, Director William Reid Sanders bought 7,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were purchased at an average cost of $100.11 per share, with a total value of $700,770.00. Following the completion of the purchase, the director now owns 8,209 shares in the company, valued at approximately $821,802.99. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David P. Stockert sold 6,872 shares of the stock in a transaction 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 $8,207,321.20. The disclosure for this sale can be found here. Insiders own 1.25% of the company’s stock.
Several large investors have recently made changes to their positions in MAA. Gilman Hill Asset Management LLC lifted its holdings in Mid-America Apartment Communities by 9.2% in the third quarter. Gilman Hill Asset Management LLC now owns 6,193 shares of the real estate investment trust’s stock valued at $662,000 after acquiring an additional 520 shares during the period. GAM Holding AG lifted its holdings in Mid-America Apartment Communities by 2.4% in the second quarter. GAM Holding AG now owns 15,525 shares of the real estate investment trust’s stock valued at $1,636,000 after acquiring an additional 365 shares during the period. Aviva PLC lifted its holdings in Mid-America Apartment Communities by 1.2% in the second quarter. Aviva PLC now owns 70,978 shares of the real estate investment trust’s stock valued at $7,481,000 after acquiring an additional 860 shares during the period. Brookfield Asset Management Inc. bought a new position in Mid-America Apartment Communities in the second quarter valued at about $158,747,000. Finally, Retirement Systems of Alabama lifted its holdings in Mid-America Apartment Communities by 295.1% in the second quarter. Retirement Systems of Alabama now owns 216,868 shares of the real estate investment trust’s stock valued at $22,854,000 after acquiring an additional 161,982 shares during the period. 90.99% of the stock is currently owned by hedge funds and other 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.
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