Mid-America Apartment Communities (NYSE:MAA) Announces Earnings Results

Mid-America Apartment Communities (NYSE:MAA) released its earnings results on Thursday. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($1.01), Zacks reports. The firm had revenue of $543.60 million during the quarter, compared to the consensus estimate of $541.44 million. Mid-America Apartment Communities had a return on equity of 8.90% and a net margin of 25.92%. Mid-America Apartment Communities’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.28 EPS.

Mid-America Apartment Communities Stock Performance

NYSE MAA traded up $1.32 on Friday, reaching $133.00. 1,071,007 shares of the company’s stock traded hands, compared to its average volume of 832,463. Mid-America Apartment Communities has a fifty-two week low of $115.56 and a fifty-two week high of $158.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.09 and a current ratio of 0.12. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 3.38 and a beta of 0.80. The stock has a 50 day moving average price of $129.46 and a 200-day moving average price of $128.55.

Mid-America Apartment Communities Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a $1.47 dividend. The ex-dividend date was Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.42%. Mid-America Apartment Communities’s payout ratio is currently 123.27%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $140.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $149.00 price objective on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft began coverage on Mid-America Apartment Communities in a research report on Tuesday, January 30th. They set a “hold” rating and a $139.00 target price for the company. Morgan Stanley increased their price objective on shares of Mid-America Apartment Communities from $128.00 to $129.50 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Mizuho dropped their price objective on Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $143.06.

Insiders Place Their Bets

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the company’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares in the company, valued at $40,057,103.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 2,807 shares of company stock valued at $353,955. Company insiders own 1.30% of the company’s stock.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.