Mid-America Apartment Communities, Inc. (NYSE:MAA) – Stock analysts at SunTrust Banks reduced their FY2018 earnings per share estimates for Mid-America Apartment Communities in a report issued on Thursday. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will earn $6.21 per share for the year, down from their previous estimate of $6.34. SunTrust Banks has a “Buy” rating and a $109.00 price objective on the stock. SunTrust Banks also issued estimates for Mid-America Apartment Communities’ FY2019 earnings at $6.68 EPS, FY2020 earnings at $6.93 EPS and FY2021 earnings at $7.15 EPS.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.61. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The business had revenue of $384.60 million during the quarter, compared to analyst estimates of $386.96 million. During the same period last year, the business posted $1.47 earnings per share. Mid-America Apartment Communities’s quarterly revenue was up 38.9% compared to the same quarter last year.
Shares of Mid-America Apartment Communities (NYSE:MAA) traded down $1.31 on Monday, reaching $102.57. 833,081 shares of the company’s stock traded hands, compared to its average volume of 674,287. Mid-America Apartment Communities has a twelve month low of $92.50 and a twelve month high of $110.95. The stock has a market capitalization of $11,689.95, a price-to-earnings ratio of 17.32, a PEG ratio of 2.49 and a beta of 0.34.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th will be given a $0.9225 dividend. This represents a $3.69 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. Mid-America Apartment Communities’s payout ratio is 156.76%.
In related news, Director William Reid Sanders bought 7,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was acquired at an average price of $100.11 per share, with a total value of $700,770.00. Following the transaction, the director now owns 8,209 shares in the company, valued at approximately $821,802.99. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.25% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Gilman Hill Asset Management LLC grew its position in shares of Mid-America Apartment Communities by 9.2% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 6,193 shares of the real estate investment trust’s stock valued at $662,000 after acquiring an additional 520 shares during the period. Forsta AP Fonden boosted its holdings in Mid-America Apartment Communities by 35.0% in the 3rd quarter. Forsta AP Fonden now owns 47,100 shares of the real estate investment trust’s stock worth $5,034,000 after buying an additional 12,200 shares during the period. Toronto Dominion Bank boosted its holdings in Mid-America Apartment Communities by 12.0% in the 3rd quarter. Toronto Dominion Bank now owns 43,113 shares of the real estate investment trust’s stock worth $4,607,000 after buying an additional 4,610 shares during the period. Aviva PLC boosted its holdings in Mid-America Apartment Communities by 1.2% in the 2nd quarter. Aviva PLC now owns 70,978 shares of the real estate investment trust’s stock worth $7,481,000 after buying an additional 860 shares during the period. Finally, GAM Holding AG boosted its holdings in Mid-America Apartment Communities by 2.4% in the 2nd quarter. GAM Holding AG now owns 15,525 shares of the real estate investment trust’s stock worth $1,636,000 after buying an additional 365 shares during the period. 92.97% of the stock is owned by hedge funds and other institutional investors.
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Mid-America Apartment Communities Company Profile
Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.
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