Zacks: Analysts Expect Mid-America Apartment Communities (MAA) Will Post Quarterly Sales of $384.99 Million

Equities research analysts expect that Mid-America Apartment Communities (NYSE:MAA) will post sales of $384.99 million for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Mid-America Apartment Communities’ earnings, with the highest sales estimate coming in at $389.31 million and the lowest estimate coming in at $380.90 million. Mid-America Apartment Communities posted sales of $378.91 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.6%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, May 2nd.

On average, analysts expect that Mid-America Apartment Communities will report full-year sales of $384.99 million for the current financial year, with estimates ranging from $1.54 billion to $1.60 billion. For the next financial year, analysts forecast that the business will post sales of $1.63 billion per share, with estimates ranging from $1.58 billion to $1.68 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Mid-America Apartment Communities.

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Mid-America Apartment Communities (NYSE:MAA) last announced its earnings results on Wednesday, January 31st. The real estate investment trust reported $1.08 EPS for the quarter, missing the Zacks’ consensus estimate of $1.48 by ($0.40). Mid-America Apartment Communities had a net margin of 21.42% and a return on equity of 4.99%. The business had revenue of $382.74 million for the quarter, compared to analysts’ expectations of $386.33 million.

A number of analysts have commented on MAA shares. DA Davidson set a $110.00 target price on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a report on Tuesday, January 30th. SunTrust Banks set a $102.00 target price on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a report on Monday, January 22nd. Stifel Nicolaus raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Friday, January 19th. They noted that the move was a valuation call. Robert W. Baird set a $100.00 target price on shares of Mid-America Apartment Communities and gave the company a “buy” rating in a report on Friday, March 2nd. Finally, Jefferies Group cut shares of Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a report on Thursday, December 14th. Eight equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Mid-America Apartment Communities has a consensus rating of “Buy” and an average target price of $104.62.

In other news, Director William Reid Sanders purchased 4,100 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was acquired at an average cost of $90.98 per share, for a total transaction of $373,018.00. Following the completion of the transaction, the director now directly owns 13,109 shares in the company, valued at approximately $1,192,656.82. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Claude B. Nielsen sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $86.44, for a total transaction of $622,368.00. Following the completion of the transaction, the director now owns 20,417 shares of the company’s stock, valued at $1,764,845.48. The disclosure for this sale can be found here. Corporate insiders own 1.25% of the company’s stock.

Several large investors have recently modified their holdings of MAA. New York State Common Retirement Fund boosted its position in shares of Mid-America Apartment Communities by 0.9% during the third quarter. New York State Common Retirement Fund now owns 272,858 shares of the real estate investment trust’s stock worth $29,163,000 after acquiring an additional 2,500 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Mid-America Apartment Communities by 5.9% during the third quarter. Great West Life Assurance Co. Can now owns 166,304 shares of the real estate investment trust’s stock worth $17,635,000 after acquiring an additional 9,307 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Mid-America Apartment Communities by 5.3% during the third quarter. Legal & General Group Plc now owns 813,082 shares of the real estate investment trust’s stock worth $86,899,000 after acquiring an additional 41,063 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Mid-America Apartment Communities by 9.5% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,239 shares of the real estate investment trust’s stock worth $987,000 after acquiring an additional 801 shares during the last quarter. Finally, Cadence Capital Management LLC boosted its position in shares of Mid-America Apartment Communities by 13.8% during the third quarter. Cadence Capital Management LLC now owns 7,798 shares of the real estate investment trust’s stock worth $833,000 after acquiring an additional 944 shares during the last quarter. Hedge funds and other institutional investors own 94.70% of the company’s stock.

MAA stock traded down $0.46 during midday trading on Friday, reaching $91.98. 732,313 shares of the company’s stock traded hands, compared to its average volume of 836,388. Mid-America Apartment Communities has a 52-week low of $85.16 and a 52-week high of $110.95. The stock has a market cap of $10,516.23, a P/E ratio of 15.48, a P/E/G ratio of 2.20 and a beta of 0.34.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Friday, April 13th will be given a $0.9225 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 4.01%. Mid-America Apartment Communities’s payout ratio is currently 62.12%.

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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 throughout the United States. As of December 31, 2017, MAA had ownership interest in 100,489 apartment units, including communities currently in development, across 17 states and the District of Columbia.

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Earnings History and Estimates for Mid-America Apartment Communities (NYSE:MAA)

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