Brokerages expect Mid-America Apartment Communities Inc (NYSE:MAA) to report $387.02 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Mid-America Apartment Communities’ earnings, with estimates ranging from $385.03 million to $389.31 million. Mid-America Apartment Communities posted sales of $378.91 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.1%. The business is expected to announce its next earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full year sales of $387.02 million for the current fiscal year, with estimates ranging from $1.55 billion to $1.62 billion. For the next year, analysts forecast that the firm will report sales of $1.63 billion per share, with estimates ranging from $1.58 billion to $1.71 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Mid-America Apartment Communities.
MAA has been the topic of several research analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, November 3rd. Cantor Fitzgerald restated a “buy” rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a research report on Monday, November 13th. Jefferies Group cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Thursday, December 14th. Robert W. Baird restated a “buy” rating and issued a $110.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, November 10th. Finally, Stifel Nicolaus decreased their price objective on shares of Mid-America Apartment Communities from $113.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $107.62.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th were given a dividend of $0.9225 per share. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. This represents a $3.69 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Thursday, January 11th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 129.02%.
In other Mid-America Apartment Communities news, Director William Reid Sanders purchased 4,100 shares of Mid-America Apartment Communities stock in a transaction on Friday, February 2nd. The shares were acquired at an average cost of $90.98 per share, for a total transaction of $373,018.00. Following the completion of the transaction, the director now directly owns 13,109 shares of the company’s stock, valued at $1,192,656.82. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders have acquired 4,216 shares of company stock worth $382,935 over the last quarter. Company insiders own 1.25% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of MAA. Group One Trading L.P. bought a new position in Mid-America Apartment Communities during the third quarter valued at approximately $209,000. Conning Inc. purchased a new stake in shares of Mid-America Apartment Communities during the fourth quarter valued at approximately $211,000. IFM Investors Pty Ltd purchased a new stake in shares of Mid-America Apartment Communities during the third quarter valued at approximately $217,000. Timber Hill LLC purchased a new stake in shares of Mid-America Apartment Communities during the third quarter valued at approximately $218,000. Finally, Independent Advisor Alliance purchased a new stake in shares of Mid-America Apartment Communities during the third quarter valued at approximately $227,000. Institutional investors and hedge funds own 92.95% of the company’s stock.
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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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