Analysts expect that Mid-America Apartment Communities Inc (NYSE:MAA) will report $386.33 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Mid-America Apartment Communities’ earnings. The lowest sales estimate is $381.72 million and the highest is $390.12 million. Mid-America Apartment Communities reported sales of $307.20 million in the same quarter last year, which indicates a positive year over year growth rate of 25.8%. The business is scheduled to announce its next earnings results on Wednesday, February 7th.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full-year sales of $386.33 million for the current fiscal year, with estimates ranging from $1.53 billion to $1.54 billion. For the next financial year, analysts forecast that the firm will post sales of $1.58 billion per share, with estimates ranging from $1.56 billion to $1.62 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, beating the consensus estimate of $0.39 by $0.61. The company had revenue of $384.60 million during the quarter, compared to analysts’ expectations of $386.96 million. Mid-America Apartment Communities had a return on equity of 4.22% and a net margin of 16.73%. The firm’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.47 EPS.
Shares of Mid-America Apartment Communities (NYSE MAA) opened at $99.49 on Thursday. The company has a market capitalization of $11,317.25, a PE ratio of 44.82, a price-to-earnings-growth ratio of 2.30 and a beta of 0.34. Mid-America Apartment Communities has a fifty-two week low of $92.50 and a fifty-two week high of $110.95.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be issued a dividend of $0.9225 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 3.71%. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. Mid-America Apartment Communities’s payout ratio is presently 156.76%.
In other news, Director William Reid Sanders bought 7,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was acquired at an average price of $100.11 per share, for a total transaction of $700,770.00. Following the acquisition, the director now owns 8,209 shares of the company’s stock, valued at $821,802.99. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have bought a total of 7,116 shares of company stock valued at $710,687 in the last quarter. Company insiders own 1.25% of the company’s stock.
Several large investors have recently modified their holdings of the company. Prudential Financial Inc. lifted its position in Mid-America Apartment Communities by 7.8% during the 3rd quarter. Prudential Financial Inc. now owns 851,398 shares of the real estate investment trust’s stock worth $90,998,000 after acquiring an additional 61,244 shares in the last quarter. Parametric Portfolio Associates LLC lifted its position in Mid-America Apartment Communities by 3.8% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 195,999 shares of the real estate investment trust’s stock worth $20,948,000 after acquiring an additional 7,197 shares in the last quarter. AXA lifted its position in Mid-America Apartment Communities by 14.8% during the 3rd quarter. AXA now owns 123,416 shares of the real estate investment trust’s stock worth $13,191,000 after acquiring an additional 15,936 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Mid-America Apartment Communities by 1.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 273,589 shares of the real estate investment trust’s stock worth $29,241,000 after acquiring an additional 3,852 shares in the last quarter. Finally, Hahn Capital Management LLC lifted its position in Mid-America Apartment Communities by 0.9% during the 3rd quarter. Hahn Capital Management LLC now owns 276,372 shares of the real estate investment trust’s stock worth $29,539,000 after acquiring an additional 2,570 shares in the last quarter. Institutional investors and hedge funds own 92.70% of the company’s stock.
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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