Mid-America Apartment Communities (NYSE:MAA) Issues Earnings Results, Misses Expectations By $1.01 EPS

Mid-America Apartment Communities (NYSE:MAA) posted its quarterly earnings results on Thursday. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($1.01), Zacks reports. The business had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company earned $2.28 EPS.

Mid-America Apartment Communities Stock Up 1.0 %

Shares of Mid-America Apartment Communities stock traded up $1.32 on Friday, reaching $133.00. 1,071,007 shares of the company were exchanged, compared to its average volume of 832,463. Mid-America Apartment Communities has a one year low of $115.56 and a one year high of $158.46. The company has a current ratio of 0.12, a quick ratio of 0.09 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average of $129.46 and a 200 day moving average of $128.51. The company has a market capitalization of $15.53 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 3.41 and a beta of 0.80.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Friday, April 12th. Mid-America Apartment Communities’s payout ratio is 123.27%.

Analyst Ratings Changes

Several research analysts have issued reports on MAA shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a research note on Friday, February 9th. Piper Sandler reiterated a “neutral” rating and issued a $140.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Wedbush reaffirmed a “neutral” rating and set a $135.00 target price on shares of Mid-America Apartment Communities in a report on Monday, April 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price target on the stock. Finally, Truist Financial decreased their price objective on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $143.06.

Insider Activity at Mid-America Apartment Communities

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $126.07, for a total transaction of $333,076.94. Following the transaction, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 2,807 shares of company stock valued at $353,955. 1.30% of the stock is owned by corporate insiders.

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.