Jefferies Group Comments on Mid-America Apartment Communities Inc’s FY2018 Earnings (MAA)
Mid-America Apartment Communities Inc (NYSE:MAA) – Jefferies Group dropped their FY2018 earnings estimates for Mid-America Apartment Communities in a research note issued to investors on Tuesday. Jefferies Group analyst O. Okusanya now anticipates that the real estate investment trust will post earnings of $6.18 per share for the year, down from their prior estimate of $6.24. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Mid-America Apartment Communities’ FY2019 earnings at $6.67 EPS.
Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Wednesday, October 25th. The real estate investment trust reported $1.00 EPS for the quarter, topping the consensus estimate of $0.39 by $0.61. The business had revenue of $384.60 million during the quarter, compared to analyst estimates of $386.96 million. Mid-America Apartment Communities had a net margin of 16.73% and a return on equity of 4.22%. The company’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.47 earnings per share.
Shares of Mid-America Apartment Communities (MAA) traded up $0.98 on Wednesday, reaching $92.52. 711,723 shares of the company were exchanged, compared to its average volume of 772,962. The company has a market cap of $10,510.00, a price-to-earnings ratio of 41.68, a PEG ratio of 2.15 and a beta of 0.34. Mid-America Apartment Communities has a 12-month low of $90.88 and a 12-month high of $110.95.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, January 12th will be issued a $0.9225 dividend. This represents a $3.69 dividend on an annualized basis and a yield of 3.99%. This is an increase from Mid-America Apartment Communities’s previous quarterly dividend of $0.87. The ex-dividend date is Thursday, January 11th. Mid-America Apartment Communities’s dividend payout ratio is presently 166.22%.
In other Mid-America Apartment Communities news, Director William Reid Sanders purchased 7,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was bought at an average cost of $100.11 per share, with a total value of $700,770.00. Following the acquisition, the director now owns 8,209 shares of the company’s stock, valued at $821,802.99. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 7,116 shares of company stock valued at $710,687 over the last three months. 1.25% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MAA. Franklin Resources Inc. lifted its holdings in Mid-America Apartment Communities by 14.5% in the 2nd quarter. Franklin Resources Inc. now owns 187,182 shares of the real estate investment trust’s stock valued at $19,725,000 after acquiring an additional 23,772 shares during the last quarter. Stephens Inc. AR lifted its holdings in Mid-America Apartment Communities by 10.4% in the 2nd quarter. Stephens Inc. AR now owns 2,696 shares of the real estate investment trust’s stock valued at $284,000 after acquiring an additional 253 shares during the last quarter. Norinchukin Bank The lifted its holdings in Mid-America Apartment Communities by 6.8% in the 2nd quarter. Norinchukin Bank The now owns 7,882 shares of the real estate investment trust’s stock valued at $831,000 after acquiring an additional 503 shares during the last quarter. Profund Advisors LLC lifted its holdings in Mid-America Apartment Communities by 21.2% in the 2nd quarter. Profund Advisors LLC now owns 7,026 shares of the real estate investment trust’s stock valued at $740,000 after acquiring an additional 1,229 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in Mid-America Apartment Communities by 64.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,806 shares of the real estate investment trust’s stock valued at $1,034,000 after acquiring an additional 3,849 shares during the last quarter. 92.78% of the stock is owned by institutional investors.
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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.
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