Mid-America Apartment Communities (NYSE:MAA) Releases FY 2024 Earnings Guidance

Mid-America Apartment Communities (NYSE:MAA) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 8.800-9.020 for the period, compared to the consensus estimate of 8.880. The company issued revenue guidance of -. Mid-America Apartment Communities also updated its FY24 guidance to $8.80-8.96 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MAA shares. Scotiabank raised their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. The Goldman Sachs Group began coverage on shares of Mid-America Apartment Communities in a report on Wednesday, September 4th. They set a “buy” rating and a $187.00 price objective for the company. JMP Securities increased their target price on Mid-America Apartment Communities from $145.00 to $160.00 and gave the company a “market outperform” rating in a research note on Friday, August 2nd. BNP Paribas started coverage on Mid-America Apartment Communities in a research note on Wednesday, September 11th. They set a “neutral” rating and a $169.00 price target for the company. Finally, UBS Group increased their price objective on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.69.

Mid-America Apartment Communities Trading Down 1.4 %

Shares of NYSE MAA traded down $2.17 during trading hours on Friday, hitting $149.17. The company’s stock had a trading volume of 1,027,700 shares, compared to its average volume of 755,354. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market cap of $17.43 billion, a price-to-earnings ratio of 33.67, a P/E/G ratio of 2.45 and a beta of 0.88. The business has a 50-day simple moving average of $158.10 and a 200-day simple moving average of $145.93. Mid-America Apartment Communities has a 12 month low of $118.68 and a 12 month high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). The company had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.34%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the business earned $2.29 EPS. On average, analysts anticipate that Mid-America Apartment Communities will post 8.88 earnings per share for the current fiscal year.

Mid-America Apartment Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.94%. Mid-America Apartment Communities’s dividend payout ratio is 132.73%.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.