Analysts predict that Mid-America Apartment Communities Inc (NYSE:MAA) will post $413.04 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Mid-America Apartment Communities’ earnings. The lowest sales estimate is $405.70 million and the highest is $425.51 million. Mid-America Apartment Communities reported sales of $407.39 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.4%. The business is scheduled to issue its next earnings report on Wednesday, July 29th.
According to Zacks, analysts expect that Mid-America Apartment Communities will report full-year sales of $1.66 billion for the current fiscal year, with estimates ranging from $1.62 billion to $1.71 billion. For the next fiscal year, analysts expect that the company will report sales of $1.70 billion, with estimates ranging from $1.63 billion to $1.76 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Mid-America Apartment Communities.
Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($1.05). The firm had revenue of $418.10 million during the quarter, compared to analyst estimates of $417.60 million. Mid-America Apartment Communities had a net margin of 19.66% and a return on equity of 5.33%. Mid-America Apartment Communities’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.47 EPS.
In other Mid-America Apartment Communities news, CFO Albert M. Campbell III sold 273 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 3rd. The shares were sold at an average price of $92.99, for a total value of $25,386.27. Following the completion of the sale, the chief financial officer now directly owns 64,745 shares of the company’s stock, valued at approximately $6,020,637.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO H Eric Bolton, Jr. sold 325 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 3rd. The stock was sold at an average price of $92.99, for a total transaction of $30,221.75. Following the completion of the sale, the chief executive officer now directly owns 267,808 shares of the company’s stock, valued at $24,903,465.92. The disclosure for this sale can be found here. Insiders have sold a total of 9,876 shares of company stock valued at $1,053,224 over the last 90 days. Insiders own 1.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. purchased a new stake in Mid-America Apartment Communities in the 4th quarter worth approximately $28,000. Twin Tree Management LP purchased a new stake in Mid-America Apartment Communities in the 1st quarter worth approximately $32,000. TFG Advisers LLC purchased a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at $37,000. Whittier Trust Co. grew its stake in shares of Mid-America Apartment Communities by 217.5% during the 4th quarter. Whittier Trust Co. now owns 308 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 211 shares during the period. Finally, Verus Capital Partners LLC purchased a new stake in shares of Mid-America Apartment Communities during the 4th quarter valued at $44,000. 92.21% of the stock is owned by hedge funds and other institutional investors.
NYSE:MAA traded up $0.08 during mid-day trading on Wednesday, reaching $116.88. The stock had a trading volume of 843,255 shares, compared to its average volume of 840,696. The business has a 50 day simple moving average of $110.69 and a 200 day simple moving average of $125.75. Mid-America Apartment Communities has a twelve month low of $82.00 and a twelve month high of $148.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 41.45 and a beta of 0.69.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, July 14th. This represents a $4.00 annualized dividend and a dividend yield of 3.42%. Mid-America Apartment Communities’s dividend payout ratio is currently 61.07%.
Mid-America Apartment Communities Company Profile
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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