Q2 2024 EPS Estimates for Mid-America Apartment Communities, Inc. Decreased by Analyst (NYSE:MAA)

Mid-America Apartment Communities, Inc. (NYSE:MAA) – Investment analysts at Wedbush lowered their Q2 2024 earnings per share (EPS) estimates for shares of Mid-America Apartment Communities in a note issued to investors on Monday, May 6th. Wedbush analyst R. Anderson now expects that the real estate investment trust will earn $2.19 per share for the quarter, down from their prior estimate of $2.24. Wedbush currently has a “Outperform” rating and a $154.00 target price on the stock. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $8.91 per share. Wedbush also issued estimates for Mid-America Apartment Communities’ FY2024 earnings at $8.77 EPS and FY2025 earnings at $9.12 EPS.

Other equities analysts have also recently issued research reports about the company. Scotiabank raised Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $133.00 to $147.00 in a research report on Tuesday, January 16th. Mizuho cut their price target on Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on Mid-America Apartment Communities in a research report on Tuesday, January 30th. They issued a “hold” rating and a $139.00 price objective for the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Finally, Truist Financial cut their target price on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $144.18.

Mid-America Apartment Communities Stock Performance

Shares of MAA opened at $136.19 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.12 and a quick ratio of 0.12. Mid-America Apartment Communities has a one year low of $115.56 and a one year high of $158.46. The company’s fifty day moving average price is $129.95 and its 200 day moving average price is $128.58. The company has a market capitalization of $15.91 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 3.41 and a beta of 0.80.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). The firm had revenue of $543.60 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned $2.28 EPS.

Institutional Investors Weigh In On Mid-America Apartment Communities

Several hedge funds have recently bought and sold shares of MAA. Nordea Investment Management AB boosted its holdings in Mid-America Apartment Communities by 9.2% in the 4th quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust’s stock valued at $21,020,000 after purchasing an additional 13,045 shares during the period. Columbus Macro LLC acquired a new position in shares of Mid-America Apartment Communities during the fourth quarter worth $1,280,000. Sunesis Advisors LLC lifted its stake in shares of Mid-America Apartment Communities by 393.1% in the 4th quarter. Sunesis Advisors LLC now owns 22,842 shares of the real estate investment trust’s stock valued at $3,071,000 after acquiring an additional 18,210 shares during the last quarter. abrdn plc boosted its holdings in shares of Mid-America Apartment Communities by 25.4% during the 4th quarter. abrdn plc now owns 85,542 shares of the real estate investment trust’s stock valued at $11,502,000 after acquiring an additional 17,339 shares in the last quarter. Finally, Wealth Alliance bought a new stake in Mid-America Apartment Communities during the 4th quarter worth $235,000. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mid-America Apartment Communities

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 2,807 shares of company stock valued at $353,955 over the last 90 days. 1.30% of the stock is owned by corporate insiders.

Mid-America Apartment Communities Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Friday, April 12th. Mid-America Apartment Communities’s payout ratio is 123.27%.

About Mid-America Apartment Communities

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.