Equities research analysts expect Mid-America Apartment Communities Inc (NYSE:MAA) to announce sales of $410.45 million for the current fiscal quarter, Zacks reports. Eight analysts have issued estimates for Mid-America Apartment Communities’ earnings. The lowest sales estimate is $409.24 million and the highest is $412.98 million. Mid-America Apartment Communities reported sales of $397.11 million in the same quarter last year, which would suggest a positive year over year growth rate of 3.4%. The company is expected to announce its next quarterly earnings report on Wednesday, October 30th.

On average, analysts expect that Mid-America Apartment Communities will report full-year sales of $1.63 billion for the current fiscal year. For the next fiscal year, analysts expect that the business will report sales of $1.69 billion, with estimates ranging from $1.67 billion to $1.70 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Mid-America Apartment Communities.

MAA has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of Mid-America Apartment Communities from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. Zacks Investment Research raised shares of Mid-America Apartment Communities from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Tuesday, May 28th. Barclays upped their price target on shares of Mid-America Apartment Communities from $127.00 to $133.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 28th. Scotiabank lowered shares of Mid-America Apartment Communities from a “sector perform” rating to a “sector underperform” rating and dropped their price target for the stock from $114.00 to $107.00 in a research report on Tuesday, July 9th. Finally, SunTrust Banks upped their price target on shares of Mid-America Apartment Communities to $130.00 and gave the stock a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $116.54.

In other news, Director David P. Stockert sold 2,047 shares of Mid-America Apartment Communities stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $120.84, for a total transaction of $247,359.48. Following the sale, the director now directly owns 65,240 shares in the company, valued at approximately $7,883,601.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MAA. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Mid-America Apartment Communities by 4.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,124 shares of the real estate investment trust’s stock worth $2,605,000 after acquiring an additional 1,030 shares in the last quarter. Hancock Whitney Corp purchased a new position in shares of Mid-America Apartment Communities during the second quarter worth $221,000. Barings LLC boosted its position in shares of Mid-America Apartment Communities by 44.6% during the second quarter. Barings LLC now owns 600,434 shares of the real estate investment trust’s stock worth $70,707,000 after buying an additional 185,081 shares during the period. Colony Group LLC boosted its position in shares of Mid-America Apartment Communities by 106.5% during the second quarter. Colony Group LLC now owns 4,236 shares of the real estate investment trust’s stock worth $499,000 after buying an additional 2,185 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its position in shares of Mid-America Apartment Communities by 16.8% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 163,985 shares of the real estate investment trust’s stock worth $19,310,000 after buying an additional 23,527 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

MAA stock traded down $1.41 during midday trading on Tuesday, reaching $127.25. The company had a trading volume of 5,918 shares, compared to its average volume of 448,559. Mid-America Apartment Communities has a 1 year low of $91.21 and a 1 year high of $130.28. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $14.59 billion, a P/E ratio of 21.15, a PEG ratio of 5.23 and a beta of 0.36. The company has a 50 day moving average of $124.04 and a two-hundred day moving average of $115.30.

About Mid-America Apartment Communities

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

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