Mid-America Apartment Communities, Inc. Forecasted to Post Q1 2024 Earnings of $2.24 Per Share (NYSE:MAA)

Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) – Research analysts at Wedbush issued their Q1 2024 earnings estimates for Mid-America Apartment Communities in a report issued on Monday, February 12th. Wedbush analyst R. Anderson expects that the real estate investment trust will post earnings per share of $2.24 for the quarter. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $9.05 per share. Wedbush also issued estimates for Mid-America Apartment Communities’ Q2 2024 earnings at $2.26 EPS, Q3 2024 earnings at $2.25 EPS, Q4 2024 earnings at $2.22 EPS, FY2024 earnings at $8.97 EPS and FY2025 earnings at $9.43 EPS.

Mid-America Apartment Communities (NYSE:MAAGet Free Report) last posted its earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The firm had revenue of $542.25 million during the quarter, compared to the consensus estimate of $542.64 million. During the same quarter last year, the firm posted $2.32 EPS. The business’s revenue was up 2.7% on a year-over-year basis.

MAA has been the subject of a number of other research reports. Piper Sandler cut shares of Mid-America Apartment Communities from an “overweight” rating to a “neutral” rating and cut their target price for the company from $182.00 to $130.00 in a research note on Tuesday, October 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Mid-America Apartment Communities in a report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price target for the company. Scotiabank raised shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and raised their price target for the company from $133.00 to $147.00 in a report on Tuesday, January 16th. Jefferies Financial Group reissued a “hold” rating and issued a $136.00 price target (down previously from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Finally, Colliers Securities raised shares of Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $144.00 price target for the company in a report on Tuesday, November 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $145.26.

View Our Latest Stock Report on Mid-America Apartment Communities

Mid-America Apartment Communities Stock Performance

NYSE:MAA opened at $125.47 on Tuesday. Mid-America Apartment Communities has a 1 year low of $115.56 and a 1 year high of $173.43. The firm has a 50 day moving average of $131.44 and a 200-day moving average of $132.45. The company has a current ratio of 0.09, a quick ratio of 0.26 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $14.64 billion, a P/E ratio of 26.64, a price-to-earnings-growth ratio of 4.70 and a beta of 0.81.

Institutional Investors Weigh In On Mid-America Apartment Communities

Hedge funds have recently bought and sold shares of the company. First United Bank & Trust acquired a new stake in Mid-America Apartment Communities in the 4th quarter valued at about $27,000. Cullen Frost Bankers Inc. bought a new position in Mid-America Apartment Communities in the 3rd quarter valued at about $35,000. ST Germain D J Co. Inc. bought a new position in Mid-America Apartment Communities in the 2nd quarter valued at about $36,000. First Financial Corp IN raised its holdings in Mid-America Apartment Communities by 40.8% in the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 86 shares during the period. Finally, CVA Family Office LLC bought a new position in Mid-America Apartment Communities in the 4th quarter valued at about $40,000. 93.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mid-America Apartment Communities

In other news, EVP Melanie Carpenter sold 371 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $131.33, for a total transaction of $48,723.43. Following the completion of the transaction, the executive vice president now directly owns 19,067 shares in the company, valued at approximately $2,504,069.11. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO H Eric Bolton, Jr. sold 4,028 shares of the firm’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $130.21, for a total value of $524,485.88. Following the completion of the sale, the chief executive officer now directly owns 304,523 shares in the company, valued at approximately $39,651,939.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melanie Carpenter sold 371 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $131.33, for a total transaction of $48,723.43. Following the completion of the sale, the executive vice president now owns 19,067 shares of the company’s stock, valued at $2,504,069.11. The disclosure for this sale can be found here. Company insiders own 1.33% of the company’s stock.

Mid-America Apartment Communities Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, January 12th were given a $1.47 dividend. This is a boost from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. This represents a $5.88 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend was Thursday, January 11th. Mid-America Apartment Communities’s payout ratio is currently 124.84%.

About Mid-America Apartment Communities

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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.

Further Reading

Earnings History and Estimates for Mid-America Apartment Communities (NYSE:MAA)

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