Mid-America Apartment Communities Inc (NYSE:MAA) – Research analysts at Jefferies Financial Group raised their Q2 2020 earnings per share (EPS) estimates for shares of Mid-America Apartment Communities in a report issued on Monday, July 15th. Jefferies Financial Group analyst O. Okusanya now expects that the real estate investment trust will earn $1.60 per share for the quarter, up from their previous forecast of $1.59. Jefferies Financial Group also issued estimates for Mid-America Apartment Communities’ FY2020 earnings at $6.47 EPS.
Several other equities analysts have also recently issued reports on the company. Raymond James reaffirmed a “buy” rating on shares of Teck Resources in a research report on Thursday, April 4th. Scotiabank cut Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and lowered their price objective for the company from $114.00 to $107.00 in a research report on Tuesday, July 9th. KeyCorp upped their price objective on Terreno Realty from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Zacks Investment Research cut Hanger from a “hold” rating to a “sell” rating in a research report on Tuesday, May 28th. Finally, Janney Montgomery Scott cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a research report on Wednesday, April 3rd. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $112.18.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.95). The company had revenue of $401.17 million during the quarter, compared to the consensus estimate of $400.91 million. Mid-America Apartment Communities had a return on equity of 3.68% and a net margin of 14.86%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.36 earnings per share.
Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Mid-America Apartment Communities by 8.4% in the 4th quarter. Geode Capital Management LLC now owns 1,833,523 shares of the real estate investment trust’s stock worth $175,217,000 after purchasing an additional 142,096 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Mid-America Apartment Communities by 1.4% in the 1st quarter. Wells Fargo & Company MN now owns 1,476,976 shares of the real estate investment trust’s stock worth $161,479,000 after purchasing an additional 19,837 shares in the last quarter. FMR LLC increased its stake in shares of Mid-America Apartment Communities by 28.2% in the 1st quarter. FMR LLC now owns 1,352,227 shares of the real estate investment trust’s stock worth $147,839,000 after purchasing an additional 297,563 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Mid-America Apartment Communities by 46.1% in the 1st quarter. Janus Henderson Group PLC now owns 1,186,322 shares of the real estate investment trust’s stock worth $129,702,000 after purchasing an additional 374,503 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Mid-America Apartment Communities in the 4th quarter worth $105,674,000. Hedge funds and other institutional investors own 92.45% of the company’s stock.
In other Mid-America Apartment Communities news, Director Claude B. Nielsen sold 6,500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were 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 in the company, valued at approximately $1,330,810.11. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.30% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be paid a dividend of $0.96 per share. The ex-dividend date is Friday, July 12th. This represents a $3.84 dividend on an annualized basis and a yield of 3.16%. Mid-America Apartment Communities’s dividend payout ratio is presently 63.58%.
Mid-America Apartment Communities Company Profile
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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