Mid-America Apartment Communities (NYSE:MAA) Announces Quarterly Earnings Results, Misses Estimates By $1.01 EPS

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

Mid-America Apartment Communities Price Performance

NYSE MAA traded up $1.32 during mid-day trading on Friday, hitting $133.00. The stock had a trading volume of 1,071,007 shares, compared to its average volume of 832,463. The company has a 50 day simple moving average of $129.46 and a 200 day simple moving average of $128.55. The company 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. Mid-America Apartment Communities has a 52-week low of $115.56 and a 52-week high of $158.46. The company has a quick ratio of 0.09, a current ratio of 0.12 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Friday, April 12th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is 123.27%.

Insiders Place Their Bets

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the transaction, 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 SEC, which is available at this link. Over the last ninety days, insiders have sold 2,807 shares of company stock worth $353,955. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Mizuho lowered 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 note on Wednesday, February 28th. 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 price target for the company. Wedbush reiterated a “neutral” rating and set a $135.00 target price on shares of Mid-America Apartment Communities in a report on Monday, April 29th. Finally, Truist Financial decreased their price objective on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Two investment 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $143.06.

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.