Brokers Issue Forecasts for Mid-America Apartment Communities Inc’s Q3 2018 Earnings (MAA)
Mid-America Apartment Communities Inc (NYSE:MAA) – Investment analysts at Jefferies Financial Group dropped their Q3 2018 earnings estimates for shares of Mid-America Apartment Communities in a report released on Thursday, September 27th. Jefferies Financial Group analyst O. Okusanya now anticipates that the real estate investment trust will earn $1.46 per share for the quarter, down from their prior forecast of $1.50. Jefferies Financial Group also issued estimates for Mid-America Apartment Communities’ Q4 2018 earnings at $1.52 EPS.
Other equities analysts have also recently issued reports about the company. SunTrust Banks lifted their price objective on Mid-America Apartment Communities to $102.00 and gave the stock a “buy” rating in a report on Wednesday, June 27th. Robert W. Baird reaffirmed a “buy” rating and set a $105.00 price objective on shares of Mid-America Apartment Communities in a report on Thursday, August 16th. Stifel Nicolaus cut Mid-America Apartment Communities from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Thursday, August 2nd. ValuEngine raised Mid-America Apartment Communities from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. Finally, BTIG Research cut Mid-America Apartment Communities from a “buy” rating to a “neutral” rating in a report on Thursday, May 31st. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $103.40.
Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($1.00). The firm had revenue of $390.10 million for the quarter, compared to analyst estimates of $389.62 million. Mid-America Apartment Communities had a return on equity of 5.28% and a net margin of 22.36%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.48 earnings per share.
A number of institutional investors have recently added to or reduced their stakes in MAA. Piedmont Investment Advisors LLC acquired a new position in Mid-America Apartment Communities in the second quarter valued at $134,000. Assetmark Inc. increased its stake in Mid-America Apartment Communities by 497.4% in the first quarter. Assetmark Inc. now owns 1,607 shares of the real estate investment trust’s stock valued at $147,000 after purchasing an additional 1,338 shares during the last quarter. McKinley Carter Wealth Services Inc. acquired a new position in Mid-America Apartment Communities in the first quarter valued at $177,000. Bridgeworth LLC acquired a new position in Mid-America Apartment Communities in the second quarter valued at $180,000. Finally, Chickasaw Capital Management LLC acquired a new position in Mid-America Apartment Communities in the second quarter valued at $201,000. Hedge funds and other institutional investors own 92.98% of the company’s stock.
In other news, Director Russell R. French sold 4,993 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $100.69, for a total value of $502,745.17. Following the completion of the transaction, the director now directly owns 17,770 shares of the company’s stock, valued at $1,789,261.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David P. Stockert sold 1,617 shares of the business’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $101.59, for a total value of $164,271.03. Following the completion of the transaction, the director now directly owns 75,563 shares of the company’s stock, valued at $7,676,445.17. The disclosure for this sale can be found here. Insiders own 1.26% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th will be issued a $0.9225 dividend. The ex-dividend date of this dividend is Friday, October 12th. This represents a $3.69 dividend on an annualized basis and a dividend yield of 3.73%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 62.12%.
About Mid-America Apartment Communities
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 throughout the United States. As of June 30, 2018, MAA had ownership interest in 101,362 apartment units, including communities currently in development, across 17 states and the District of Columbia.
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