Mid-America Apartment Communities (NYSE:MAA) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.530-1.690 for the period. The company issued revenue guidance of -.Mid-America Apartment Communities also updated its FY 2021 guidance to $6.350-6.650 EPS.
Mid-America Apartment Communities stock traded up $2.84 during mid-day trading on Thursday, reaching $171.53. 445,368 shares of the company were exchanged, compared to its average volume of 655,309. The firm’s fifty day moving average is $155.77. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market cap of $19.64 billion, a price-to-earnings ratio of 74.90, a P/E/G ratio of 12.69 and a beta of 0.66. Mid-America Apartment Communities has a 12-month low of $108.06 and a 12-month high of $172.33.
Mid-America Apartment Communities (NYSE:MAA) last posted its earnings results on Tuesday, April 27th. The real estate investment trust reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($1.21). Mid-America Apartment Communities had a return on equity of 4.33% and a net margin of 15.76%. The company had revenue of $425.01 million for the quarter, compared to analysts’ expectations of $423.65 million. During the same quarter in the prior year, the company earned $1.62 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts predict that Mid-America Apartment Communities will post 6.54 EPS for the current fiscal year.
Several brokerages have recently commented on MAA. Raymond James increased their price objective on Mid-America Apartment Communities from $145.00 to $175.00 and gave the company an outperform rating in a report on Tuesday, May 11th. Truist upgraded Mid-America Apartment Communities from a hold rating to a buy rating and increased their price objective for the company from $151.00 to $178.00 in a report on Friday, June 4th. They noted that the move was a valuation call. Truist Securities upgraded Mid-America Apartment Communities from a hold rating to a buy rating and increased their price objective for the company from $151.00 to $178.00 in a report on Friday, June 4th. BMO Capital Markets lowered Mid-America Apartment Communities from an outperform rating to a market perform rating and increased their price objective for the company from $147.00 to $170.00 in a report on Tuesday, June 1st. Finally, Royal Bank of Canada initiated coverage on Mid-America Apartment Communities in a research report on Tuesday, March 30th. They issued a sector perform rating and a $146.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $149.08.
In other Mid-America Apartment Communities news, CFO Albert M. Campbell III sold 691 shares of the stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $146.44, for a total transaction of $101,190.04. Following the sale, the chief financial officer now directly owns 73,087 shares of the company’s stock, valued at approximately $10,702,860.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO H Eric Bolton, Jr. sold 12,581 shares of the stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $146.44, for a total value of $1,842,361.64. Following the sale, the chief executive officer now directly owns 284,513 shares in the company, valued at $41,664,083.72. The disclosure for this sale can be found here. Insiders have sold a total of 41,671 shares of company stock worth $6,415,840 over the last ninety days. 1.39% of the stock is owned by insiders.
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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