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

Mid-America Apartment Communities, Inc. (NYSE:MAA) – Research analysts at Zacks Research decreased their Q2 2024 earnings per share (EPS) estimates for Mid-America Apartment Communities in a report issued on Wednesday, May 22nd. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings of $2.20 per share for the quarter, down from their prior estimate of $2.25. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $8.87 per share. Zacks Research also issued estimates for Mid-America Apartment Communities’ Q3 2024 earnings at $2.20 EPS, FY2024 earnings at $8.84 EPS, Q1 2025 earnings at $2.24 EPS, Q2 2025 earnings at $2.24 EPS, Q3 2025 earnings at $2.30 EPS, Q4 2025 earnings at $2.32 EPS, FY2025 earnings at $9.10 EPS, Q1 2026 earnings at $2.33 EPS and FY2026 earnings at $9.68 EPS.

A number of other brokerages also recently issued reports on MAA. Royal Bank of Canada reissued 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. Morgan Stanley upped their target price on Mid-America Apartment Communities from $129.50 to $138.50 and gave the stock an “equal weight” rating in a research note on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft initiated coverage on Mid-America Apartment Communities in a research note on Tuesday, January 30th. They set a “hold” rating and a $139.00 target price for the company. Scotiabank upped their target price on Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 14th. Finally, Truist Financial reduced 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 note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $144.18.

Mid-America Apartment Communities Trading Down 2.3 %

Shares of NYSE:MAA opened at $132.90 on Thursday. Mid-America Apartment Communities has a 12-month low of $115.56 and a 12-month high of $158.46. The company has a market capitalization of $15.53 billion, a PE ratio of 27.86, a PEG ratio of 3.04 and a beta of 0.80. The business has a 50 day moving average of $131.31 and a two-hundred day moving average of $129.64. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($1.01). Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The company had revenue of $543.60 million during the quarter, compared to analyst estimates of $541.44 million. During the same period in the previous year, the firm posted $2.28 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year.

Hedge Funds Weigh In On Mid-America Apartment Communities

Several hedge funds and other institutional investors have recently bought and sold shares of MAA. FMR LLC grew its position in shares of Mid-America Apartment Communities by 12.2% in the third quarter. FMR LLC now owns 5,457,634 shares of the real estate investment trust’s stock valued at $702,125,000 after purchasing an additional 592,306 shares during the period. Norges Bank acquired a new position in shares of Mid-America Apartment Communities in the fourth quarter worth about $713,500,000. Morgan Stanley lifted its stake in shares of Mid-America Apartment Communities by 1.4% in the third quarter. Morgan Stanley now owns 2,345,083 shares of the real estate investment trust’s stock worth $301,695,000 after acquiring an additional 31,813 shares in the last quarter. Blackstone Inc. raised its stake in Mid-America Apartment Communities by 1.0% during the fourth quarter. Blackstone Inc. now owns 2,063,861 shares of the real estate investment trust’s stock valued at $277,507,000 after buying an additional 20,000 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Mid-America Apartment Communities by 5.7% during the third quarter. Northern Trust Corp now owns 1,725,788 shares of the real estate investment trust’s stock valued at $222,023,000 after buying an additional 93,020 shares in the last quarter. 93.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mid-America Apartment Communities news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the transaction, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 2,807 shares of company stock worth $353,955 in the last quarter. 1.30% of the stock is owned by insiders.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be paid a dividend of $1.47 per share. The ex-dividend date is Monday, July 15th. This represents a $5.88 dividend on an annualized basis and a yield of 4.42%. Mid-America Apartment Communities’s dividend payout ratio is presently 123.27%.

Mid-America Apartment Communities Company Profile

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.