Analysts Issue Forecasts for Mid-America Apartment Communities Inc’s FY2018 Earnings (MAA)
Mid-America Apartment Communities Inc (NYSE:MAA) – Equities research analysts at Jefferies Group lowered their FY2018 earnings per share (EPS) estimates for shares of Mid-America Apartment Communities in a research note issued to investors on Tuesday. Jefferies Group analyst O. Okusanya now expects that the real estate investment trust will earn $6.18 per share for the year, down from their previous forecast of $6.24. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Mid-America Apartment Communities’ FY2019 earnings at $6.67 EPS.
A number of other equities research analysts have also recently commented on the company. Royal Bank of Canada reiterated a “buy” rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, November 3rd. Cantor Fitzgerald reiterated a “buy” rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a research note on Monday, November 13th. Robert W. Baird reiterated a “buy” rating and issued a $110.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, November 10th. Stifel Nicolaus decreased their price target on Mid-America Apartment Communities from $113.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, October 27th. Finally, SunTrust Banks reissued a “buy” rating and issued a $109.00 price objective on shares of Mid-America Apartment Communities in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Mid-America Apartment Communities has a consensus rating of “Hold” and a consensus price target of $110.50.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.61. Mid-America Apartment Communities had a return on equity of 4.22% and a net margin of 16.73%. The company had revenue of $384.60 million during the quarter, compared to analysts’ expectations of $386.96 million. During the same period last year, the business posted $1.47 earnings per share. The firm’s revenue was up 38.9% compared to the same quarter last year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, January 12th will be issued a $0.9225 dividend. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. This represents a $3.69 dividend on an annualized basis and a dividend yield of 4.00%. Mid-America Apartment Communities’s dividend payout ratio is currently 166.22%.
In other news, Director William Reid Sanders acquired 7,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were acquired at an average cost of $100.11 per share, with a total value of $700,770.00. Following the completion of the acquisition, the director now owns 8,209 shares of the company’s stock, valued at $821,802.99. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought 7,116 shares of company stock worth $710,687 over the last three months. Corporate insiders own 1.25% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MAA. Group One Trading L.P. acquired a new stake in Mid-America Apartment Communities during the third quarter worth about $209,000. IFM Investors Pty Ltd acquired a new stake in Mid-America Apartment Communities during the third quarter worth about $217,000. Timber Hill LLC acquired a new stake in Mid-America Apartment Communities during the third quarter worth about $218,000. Independent Advisor Alliance acquired a new stake in Mid-America Apartment Communities during the third quarter worth about $227,000. Finally, Parametrica Management Ltd acquired a new stake in Mid-America Apartment Communities during the third quarter worth about $236,000. 92.78% of the stock is currently owned by hedge funds and other institutional investors.
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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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