Mid-America Apartment Communities, Inc. (NYSE:MAA) – KeyCorp boosted their FY2017 earnings per share estimates for Mid-America Apartment Communities in a report released on Monday. KeyCorp analyst A. Wurschmidt now forecasts that the real estate investment trust will post earnings per share of $5.90 for the year, up from their previous estimate of $5.87.

Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Wednesday, July 26th. The real estate investment trust reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.03. Mid-America Apartment Communities had a return on equity of 4.31% and a net margin of 15.80%. The business had revenue of $382.80 million during the quarter, compared to analysts’ expectations of $382.17 million. During the same period in the previous year, the business earned $1.54 earnings per share. The firm’s revenue was up 40.6% on a year-over-year basis.

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MAA has been the topic of a number of other reports. BidaskClub raised Mid-America Apartment Communities from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. UBS AG cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating and set a $107.00 price target on the stock. in a report on Thursday, July 6th. Barclays PLC reissued an “overweight” rating and set a $117.00 price target (up from $116.00) on shares of Mid-America Apartment Communities in a report on Wednesday, April 19th. Royal Bank Of Canada reissued a “buy” rating and set a $112.00 price target on shares of Mid-America Apartment Communities in a report on Wednesday, August 9th. Finally, Zacks Investment Research lowered Mid-America Apartment Communities from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $108.27.

Mid-America Apartment Communities (NYSE:MAA) traded up 0.14% during trading on Tuesday, reaching $106.84. The company had a trading volume of 84,073 shares. Mid-America Apartment Communities has a one year low of $85.04 and a one year high of $110.95. The firm has a market capitalization of $12.14 billion, a P/E ratio of 49.39 and a beta of 0.35. The firm’s 50-day moving average price is $103.19 and its 200 day moving average price is $101.96.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rehmann Capital Advisory Group bought a new position in Mid-America Apartment Communities during the first quarter valued at approximately $227,000. First Manhattan Co. raised its position in shares of Mid-America Apartment Communities by 2.4% in the first quarter. First Manhattan Co. now owns 54,660 shares of the real estate investment trust’s stock valued at $5,137,000 after buying an additional 1,300 shares during the period. Gilman Hill Asset Management LLC raised its position in shares of Mid-America Apartment Communities by 6.2% in the first quarter. Gilman Hill Asset Management LLC now owns 5,233 shares of the real estate investment trust’s stock valued at $532,000 after buying an additional 305 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in shares of Mid-America Apartment Communities by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,028 shares of the real estate investment trust’s stock valued at $288,000 after buying an additional 89 shares during the period. Finally, Nationwide Fund Advisors raised its position in shares of Mid-America Apartment Communities by 114.6% in the first quarter. Nationwide Fund Advisors now owns 245,115 shares of the real estate investment trust’s stock valued at $24,938,000 after buying an additional 130,895 shares during the period. Institutional investors own 92.35% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Friday, July 14th were given a $0.87 dividend. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $3.48 annualized dividend and a yield of 3.26%. Mid-America Apartment Communities’s dividend payout ratio is currently 148.72%.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a multifamily focused, self-administered and self-managed real estate investment trust (REIT). The Company owns, operates, acquires and develops apartment communities primarily located in the Southeast and Southwest regions of the United States. It operates through three segments: Large market same store, Secondary market same store and Non-Same Store and Other.

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

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