Q2 2024 Earnings Forecast for Mid-America Apartment Communities, Inc. (NYSE:MAA) Issued By Zacks Research

Mid-America Apartment Communities, Inc. (NYSE:MAAFree Report) – Equities researchers at Zacks Research boosted their Q2 2024 EPS estimates for shares of Mid-America Apartment Communities in a report released on Tuesday, February 6th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings per share of $2.27 for the quarter, up from their previous estimate of $2.26. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $9.15 per share. Zacks Research also issued estimates for Mid-America Apartment Communities’ FY2024 earnings at $9.07 EPS and FY2025 earnings at $9.36 EPS.

Several other equities analysts have also recently issued reports on MAA. Mizuho lifted their price objective on Mid-America Apartment Communities from $124.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft began coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $139.00 price target for the company. Piper Sandler cut shares of Mid-America Apartment Communities from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $182.00 to $130.00 in a research note on Tuesday, October 31st. Truist Financial upgraded shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and raised their target price for the stock from $154.00 to $158.00 in a research note on Tuesday, January 16th. Finally, Bank of America lowered shares of Mid-America Apartment Communities from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $136.00 to $112.00 in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $145.84.

View Our Latest Stock Report on Mid-America Apartment Communities

Mid-America Apartment Communities Stock Down 0.3 %

Shares of MAA opened at $125.18 on Thursday. Mid-America Apartment Communities has a 1 year low of $115.56 and a 1 year high of $176.36. The company’s 50-day simple moving average is $131.52 and its 200-day simple moving average is $133.16. The stock has a market capitalization of $14.61 billion, a PE ratio of 24.99, a P/E/G ratio of 4.69 and a beta of 0.81. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.26 and a current ratio of 0.26.

Hedge Funds Weigh In On Mid-America Apartment Communities

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Mid-America Apartment Communities in the fourth quarter valued at about $543,026,000. JPMorgan Chase & Co. increased its holdings in Mid-America Apartment Communities by 41.7% in the first quarter. JPMorgan Chase & Co. now owns 3,251,030 shares of the real estate investment trust’s stock valued at $491,036,000 after buying an additional 956,154 shares during the last quarter. Morgan Stanley raised its stake in Mid-America Apartment Communities by 63.3% during the fourth quarter. Morgan Stanley now owns 2,208,337 shares of the real estate investment trust’s stock valued at $346,687,000 after buying an additional 856,331 shares in the last quarter. Blackstone Inc. lifted its holdings in Mid-America Apartment Communities by 51.8% during the 3rd quarter. Blackstone Inc. now owns 2,043,861 shares of the real estate investment trust’s stock worth $262,943,000 after buying an additional 697,200 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Mid-America Apartment Communities by 12.2% in the 3rd quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock valued at $702,125,000 after acquiring an additional 592,306 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company’s stock.

Insider Activity

In related news, EVP Melanie Carpenter sold 371 shares of Mid-America Apartment Communities stock in a transaction on Monday, January 8th. The stock was sold at an average price of $131.33, for a total value of $48,723.43. Following the transaction, the executive vice president now owns 19,067 shares in the company, valued at $2,504,069.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 4,028 shares of the firm’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $130.21, for a total value of $524,485.88. Following the transaction, the chief executive officer now directly owns 304,523 shares of the company’s stock, valued at $39,651,939.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Melanie Carpenter sold 371 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $131.33, for a total value of $48,723.43. Following the completion of the sale, the executive vice president now owns 19,067 shares of the company’s stock, valued at approximately $2,504,069.11. The disclosure for this sale can be found here. Corporate insiders own 1.33% of the company’s stock.

Mid-America Apartment Communities Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th were paid a dividend of $1.47 per share. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $5.88 dividend on an annualized basis and a yield of 4.70%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $1.40. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 117.37%.

About Mid-America Apartment Communities

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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.

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

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