Mid-America Apartment Communities (NYSE:MAA) Issues Q4 2024 Earnings Guidance

Mid-America Apartment Communities (NYSE:MAA) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.150-2.310 for the period, compared to the consensus EPS estimate of 2.260. The company issued revenue guidance of -. Mid-America Apartment Communities also updated its FY 2024 guidance to 8.800-9.020 EPS.

Mid-America Apartment Communities Stock Performance

Shares of MAA traded down $2.17 during mid-day trading on Friday, hitting $149.17. 1,027,700 shares of the company’s stock were exchanged, compared to its average volume of 755,354. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The firm has a market cap of $17.43 billion, a price-to-earnings ratio of 33.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.88. The stock’s 50-day simple moving average is $158.10 and its 200-day simple moving average is $145.93. Mid-America Apartment Communities has a 52 week low of $118.68 and a 52 week high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.34%. The company had revenue of $551.13 million during the quarter, compared to analyst estimates of $548.53 million. During the same period last year, the firm earned $2.29 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts expect that Mid-America Apartment Communities will post 8.88 EPS for the current year.

Mid-America Apartment Communities Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given a dividend of $1.47 per share. The ex-dividend date was Tuesday, October 15th. This represents a $5.88 annualized dividend and a yield of 3.94%. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

Analyst Upgrades and Downgrades

MAA has been the subject of a number of research analyst reports. UBS Group boosted their price target on Mid-America Apartment Communities from $131.00 to $140.00 and gave the stock a “sell” rating in a report on Thursday, July 18th. JMP Securities increased their target price on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. Piper Sandler raised their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. Wells Fargo & Company raised shares of Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $138.00 to $174.00 in a research note on Monday, August 26th. Finally, Scotiabank boosted their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $161.69.

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.