Zacks Research Weighs in on Mid-America Apartment Communities, Inc.’s Q2 2024 Earnings (NYSE:MAA)

Mid-America Apartment Communities, Inc. (NYSE:MAA) – Zacks Research cut their Q2 2024 EPS estimates for Mid-America Apartment Communities in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings per share of $2.20 for the quarter, down from their prior forecast of $2.25. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $8.86 per share. Zacks Research also issued estimates for Mid-America Apartment Communities’ Q3 2024 earnings at $2.20 EPS, FY2024 earnings at $8.84 EPS, Q1 2025 earnings at $2.24 EPS, Q2 2025 earnings at $2.24 EPS, Q3 2025 earnings at $2.30 EPS, Q4 2025 earnings at $2.32 EPS, FY2025 earnings at $9.10 EPS, Q1 2026 earnings at $2.33 EPS and FY2026 earnings at $9.68 EPS.

A number of other brokerages also recently issued reports on MAA. The Goldman Sachs Group reiterated a “buy” rating and issued a $149.00 price target on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Morgan Stanley lifted their price target on shares of Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an “equal weight” rating in a research note on Wednesday, May 15th. Mizuho decreased their price target on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Royal Bank of Canada restated a “sector perform” rating and set a $136.00 price objective on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Finally, Piper Sandler restated a “neutral” rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $144.18.

Mid-America Apartment Communities Stock Up 0.2 %

Shares of Mid-America Apartment Communities stock opened at $133.20 on Thursday. Mid-America Apartment Communities has a 52-week low of $115.56 and a 52-week high of $158.46. The company has a 50 day moving average of $131.36 and a 200 day moving average of $129.72. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $15.56 billion, a P/E ratio of 27.92, a P/E/G ratio of 3.03 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). 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 net margin of 25.92% and a return on equity of 8.90%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.28 EPS.

Mid-America Apartment Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a $1.47 dividend. The ex-dividend date is Friday, July 12th. This represents a $5.88 annualized dividend and a yield of 4.41%. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.

Insider Buying and Selling at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of the business’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 2,807 shares of company stock valued at $353,955. 1.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several institutional investors 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. DecisionPoint Financial LLC purchased a new position in shares of Mid-America Apartment Communities during the 1st quarter worth about $26,000. Mather Group LLC. acquired a new stake in Mid-America Apartment Communities during the 1st quarter worth approximately $32,000. CVA Family Office LLC acquired a new stake in Mid-America Apartment Communities during the 4th quarter worth approximately $40,000. Finally, First Financial Corp IN increased its position in Mid-America Apartment Communities by 40.8% during the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 86 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

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.