Zacks: Analysts Expect Mid-America Apartment Communities Inc (NYSE:MAA) to Announce $1.53 EPS
Wall Street analysts expect Mid-America Apartment Communities Inc (NYSE:MAA) to report $1.53 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Mid-America Apartment Communities’ earnings. The highest EPS estimate is $1.56 and the lowest is $1.52. Mid-America Apartment Communities posted earnings per share of $1.55 in the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The business is expected to report its next quarterly earnings report on Wednesday, August 7th.
On average, analysts expect that Mid-America Apartment Communities will report full year earnings of $6.22 per share for the current financial year, with EPS estimates ranging from $6.11 to $6.25. For the next financial year, analysts forecast that the business will report earnings of $6.39 per share, with EPS estimates ranging from $6.30 to $6.48. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.95). Mid-America Apartment Communities had a return on equity of 3.68% and a net margin of 14.86%. The firm had revenue of $401.17 million for the quarter, compared to analyst estimates of $400.91 million. During the same period last year, the company earned $1.36 EPS. The company’s revenue was up 3.9% compared to the same quarter last year.
NYSE:MAA opened at $117.07 on Friday. Mid-America Apartment Communities has a twelve month low of $91.21 and a twelve month high of $118.69. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.14 and a quick ratio of 0.14. The company has a market cap of $13.38 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 4.84 and a beta of 0.40.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Friday, July 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 63.58%.
In related news, COO Thomas L. Grimes, Jr. sold 340 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $108.58, for a total value of $36,917.20. Following the sale, the chief operating officer now owns 54,444 shares in the company, valued at approximately $5,911,529.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider H Eric Bolton, Jr. sold 258 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $108.58, for a total value of $28,013.64. Following the completion of the sale, the insider now owns 220,303 shares in the company, valued at approximately $23,920,499.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,636 shares of company stock worth $945,813. 1.30% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC bought a new position in shares of Mid-America Apartment Communities in the fourth quarter valued at approximately $35,000. Doyle Wealth Management acquired a new position in Mid-America Apartment Communities during the 4th quarter worth about $85,000. Zions Bancorporation N.A. lifted its position in Mid-America Apartment Communities by 733.0% during the 1st quarter. Zions Bancorporation N.A. now owns 783 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 689 shares in the last quarter. Cresset Asset Management LLC bought a new stake in Mid-America Apartment Communities during the 1st quarter worth about $124,000. Finally, Welch Group LLC bought a new stake in Mid-America Apartment Communities during the 1st quarter worth about $143,000. Institutional investors and hedge funds own 92.59% of the company’s stock.
About Mid-America Apartment Communities
MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States.
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