Mid-America Apartment Communities (NYSE:MAA – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $8.74-9.02 for the period, compared to the consensus EPS estimate of $8.97. Mid-America Apartment Communities also updated its Q3 guidance to $2.08-2.24 EPS.
Wall Street Analyst Weigh In
Several analysts have recently commented on MAA shares. Wells Fargo & Company raised their price target on Mid-America Apartment Communities from $129.00 to $138.00 and gave the company an equal weight rating in a report on Friday, May 31st. Truist Financial upped their price target on shares of Mid-America Apartment Communities from $148.00 to $156.00 and gave the company a buy rating in a report on Monday, June 24th. Mizuho raised their price objective on shares of Mid-America Apartment Communities from $126.00 to $130.00 and gave the stock a neutral rating in a research note on Thursday, May 30th. Scotiabank boosted their price target on Mid-America Apartment Communities from $139.00 to $144.00 and gave the stock a sector perform rating in a report on Tuesday, May 14th. Finally, Morgan Stanley boosted their price target on Mid-America Apartment Communities from $129.50 to $138.50 and gave the company an equal weight rating in a report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Mid-America Apartment Communities currently has an average rating of Hold and an average target price of $141.59.
Check Out Our Latest Stock Analysis on Mid-America Apartment Communities
Mid-America Apartment Communities Stock Performance
Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. 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). The company 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%. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the business posted $2.28 EPS. Sell-side analysts predict that Mid-America Apartment Communities will post 8.88 EPS for the current fiscal year.
Mid-America Apartment Communities Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Monday, July 15th. This represents a $5.88 annualized dividend and a dividend yield of 4.21%. Mid-America Apartment Communities’s dividend payout ratio is currently 123.27%.
Mid-America Apartment Communities Company Profile
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.
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