Mid-America Apartment Communities (NYSE:MAA) Releases FY 2021 Earnings Guidance

Mid-America Apartment Communities (NYSE:MAA) issued an update on its FY 2021 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $6.650-$6.850 for the period. The company issued revenue guidance of -.Mid-America Apartment Communities also updated its Q3 2021 guidance to $1.620-$1.740 EPS.

Shares of NYSE:MAA opened at $196.17 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.08 and a current ratio of 0.08. Mid-America Apartment Communities has a 1 year low of $110.53 and a 1 year high of $197.50. The stock has a market capitalization of $22.54 billion, a P/E ratio of 55.73, a PEG ratio of 13.89 and a beta of 0.67. The stock has a 50-day simple moving average of $190.31 and a 200-day simple moving average of $174.00.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings results on Tuesday, July 27th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.94). Mid-America Apartment Communities had a return on equity of 6.66% and a net margin of 23.81%. Analysts predict that Mid-America Apartment Communities will post 6.82 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Friday, October 15th will be given a dividend of $1.025 per share. This represents a $4.10 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, October 14th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 63.76%.

A number of brokerages have issued reports on MAA. Raymond James upped their target price on Mid-America Apartment Communities from $175.00 to $205.00 and gave the company an outperform rating in a research report on Monday, July 19th. Royal Bank of Canada upped their target price on Mid-America Apartment Communities from $180.00 to $196.00 and gave the company a sector perform rating in a research report on Friday, July 30th. The Goldman Sachs Group began coverage on Mid-America Apartment Communities in a research report on Thursday, September 23rd. They issued a neutral rating and a $202.00 target price on the stock. Truist upped their price target on Mid-America Apartment Communities from $178.00 to $198.00 and gave the company a buy rating in a research report on Wednesday, August 25th. They noted that the move was a valuation call. Finally, Colliers Securities restated a hold rating and set a $175.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, July 20th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Mid-America Apartment Communities has a consensus rating of Buy and a consensus target price of $179.36.

In other news, Director David P. Stockert sold 3,500 shares of the company’s stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $195.00, for a total value of $682,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Albert M. Campbell III sold 10,000 shares of the company’s stock in a transaction on Monday, October 4th. The shares were sold at an average price of $188.32, for a total value of $1,883,200.00. The disclosure for this sale can be found here. Corporate insiders own 1.39% of the company’s stock.

An institutional investor recently raised its position in Mid-America Apartment Communities stock. Morgan Stanley grew its stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) by 162.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 430,122 shares of the real estate investment trust’s stock after purchasing an additional 265,978 shares during the period. Morgan Stanley owned about 0.37% of Mid-America Apartment Communities worth $72,441,000 as of its most recent SEC filing. Institutional investors own 90.52% of the company’s stock.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc is a real estate investment trust. The firm engages in the operation, acquisition and development of apartment communities. It operates through the following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.

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

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