Mid-America Apartment Communities Inc (MAA) Expected to Post Quarterly Sales of $405.32 Million

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Brokerages forecast that Mid-America Apartment Communities Inc (NYSE:MAA) will announce $405.32 million in sales for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Mid-America Apartment Communities’ earnings. The lowest sales estimate is $402.12 million and the highest is $410.12 million. Mid-America Apartment Communities reported sales of $390.07 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.9%. The company is expected to issue its next quarterly earnings report on Wednesday, August 7th.

According to Zacks, analysts expect that Mid-America Apartment Communities will report full year sales of $1.63 billion for the current year, with estimates ranging from $1.61 billion to $1.65 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.68 billion, with estimates ranging from $1.65 billion to $1.71 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Mid-America Apartment Communities.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.95). The company had revenue of $401.17 million during the quarter, compared to analysts’ expectations of $400.91 million. Mid-America Apartment Communities had a net margin of 14.86% and a return on equity of 3.68%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share.

Several equities analysts have commented on MAA shares. Zacks Investment Research upgraded shares of Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a research note on Thursday, February 14th. Royal Bank of Canada increased their price target on shares of Mid-America Apartment Communities from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday. KeyCorp increased their price objective on Mid-America Apartment Communities from $108.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. BMO Capital Markets reissued a “hold” rating and issued a $102.00 price objective on shares of Mid-America Apartment Communities in a report on Wednesday, January 30th. Finally, Mizuho raised Mid-America Apartment Communities from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $109.54.

In related news, Director Claude B. Nielsen sold 6,500 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $109.83, for a total transaction of $713,895.00. Following the completion of the sale, the director now directly owns 12,117 shares of the company’s stock, valued at $1,330,810.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider H Eric Bolton, Jr. sold 258 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $108.58, for a total value of $28,013.64. Following the sale, the insider now directly owns 220,303 shares of the company’s stock, valued at $23,920,499.74. The disclosure for this sale can be found here. Insiders sold 9,679 shares of company stock valued at $1,057,456 over the last three months. Corporate insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in shares of Mid-America Apartment Communities by 1.0% during the first quarter. PNC Financial Services Group Inc. now owns 10,579 shares of the real estate investment trust’s stock worth $1,155,000 after purchasing an additional 103 shares during the period. Anchor Capital Advisors LLC lifted its holdings in shares of Mid-America Apartment Communities by 1.0% during the first quarter. Anchor Capital Advisors LLC now owns 13,402 shares of the real estate investment trust’s stock worth $1,465,000 after purchasing an additional 130 shares during the period. Clean Yield Group lifted its holdings in shares of Mid-America Apartment Communities by 0.5% during the first quarter. Clean Yield Group now owns 27,065 shares of the real estate investment trust’s stock worth $2,959,000 after purchasing an additional 140 shares during the period. Advisor Partners LLC lifted its holdings in shares of Mid-America Apartment Communities by 3.4% during the fourth quarter. Advisor Partners LLC now owns 4,467 shares of the real estate investment trust’s stock worth $427,000 after purchasing an additional 145 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Mid-America Apartment Communities by 0.9% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 17,306 shares of the real estate investment trust’s stock worth $1,892,000 after purchasing an additional 151 shares during the period. 93.32% of the stock is owned by hedge funds and other institutional investors.

Shares of Mid-America Apartment Communities stock opened at $114.01 on Friday. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 18.88, a P/E/G ratio of 4.75 and a beta of 0.48. Mid-America Apartment Communities has a 52 week low of $88.47 and a 52 week high of $115.79. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.14 and a current ratio of 0.14.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.37%. Mid-America Apartment Communities’s payout ratio is currently 63.58%.

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 in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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

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