Mid-America Apartment Communities (NYSE:MAA) Releases Quarterly Earnings Results

Mid-America Apartment Communities (NYSE:MAA) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.20), Zacks reports. The firm 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%. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.29 earnings per share.

Mid-America Apartment Communities Stock Down 1.4 %

NYSE:MAA traded down $2.17 during trading hours on Friday, reaching $149.17. 1,027,700 shares of the company traded hands, compared to its average volume of 755,354. Mid-America Apartment Communities has a 1 year low of $118.68 and a 1 year high of $167.39. The business’s 50-day moving average price is $158.10 and its two-hundred day moving average price is $145.93. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $17.43 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.45 and a beta of 0.88.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed 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. This represents a $5.88 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is 132.73%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MAA shares. JMP Securities lifted their price objective on Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Piper Sandler lifted their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price objective on the stock in a research report on Monday, October 21st. BNP Paribas started coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research report on Wednesday, September 4th. They issued a “buy” rating and a $187.00 price objective on the stock. One 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.69.

Mid-America Apartment Communities Company Profile

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.