Mid-America Apartment Communities (NYSE:MAA) Releases Earnings Results, Misses Expectations By $1.75 EPS

Mid-America Apartment Communities (NYSE:MAA) released its quarterly earnings data on Wednesday. The real estate investment trust reported $0.48 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($1.75), FiscalAI reports. Mid-America Apartment Communities had a net margin of 25.23% and a return on equity of 9.14%. The business had revenue of $555.56 million for the quarter, compared to the consensus estimate of $556.80 million.

Mid-America Apartment Communities Stock Performance

NYSE MAA traded up $2.92 during trading on Wednesday, reaching $135.12. 1,277,261 shares of the company’s stock were exchanged, compared to its average volume of 971,096. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.06 and a quick ratio of 0.06. Mid-America Apartment Communities has a fifty-two week low of $125.75 and a fifty-two week high of $173.38. The business has a 50 day moving average price of $135.28 and a 200-day moving average price of $137.29. The stock has a market capitalization of $15.82 billion, a P/E ratio of 28.63, a PEG ratio of 3.80 and a beta of 0.79.

Mid-America Apartment Communities Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Thursday, January 15th were issued a $1.53 dividend. This represents a $6.12 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Thursday, January 15th. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.52. Mid-America Apartment Communities’s payout ratio is currently 129.66%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of Mid-America Apartment Communities from $146.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, January 12th. BTIG Research reissued a “buy” rating and issued a $160.00 price target on shares of Mid-America Apartment Communities in a research note on Friday, December 5th. UBS Group upped their price objective on Mid-America Apartment Communities from $132.00 to $134.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Wells Fargo & Company dropped their target price on Mid-America Apartment Communities from $157.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 25th. Finally, Evercore ISI decreased their price target on shares of Mid-America Apartment Communities from $144.00 to $143.00 and set an “in-line” rating for the company in a research note on Monday, December 15th. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $155.37.

Insider Transactions at Mid-America Apartment Communities

In other Mid-America Apartment Communities news, EVP Robert J. Delpriore sold 5,426 shares of Mid-America Apartment Communities stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $138.23, for a total value of $750,035.98. Following the completion of the transaction, the executive vice president directly owned 49,745 shares of the company’s stock, valued at $6,876,251.35. The trade was a 9.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Adrian Hill acquired 758 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average cost of $131.83 per share, for a total transaction of $99,927.14. Following the completion of the purchase, the executive vice president directly owned 48,766 shares of the company’s stock, valued at $6,428,821.78. The trade was a 1.58% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders sold 6,079 shares of company stock worth $838,698. 1.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Mid-America Apartment Communities

A number of institutional investors have recently added to or reduced their stakes in MAA. Measured Wealth Private Client Group LLC acquired a new position in shares of Mid-America Apartment Communities during the third quarter worth $33,000. Fulcrum Asset Management LLP bought a new position in shares of Mid-America Apartment Communities during the third quarter worth about $46,000. MUFG Securities EMEA plc bought a new stake in Mid-America Apartment Communities in the second quarter valued at approximately $51,000. Quarry LP boosted its holdings in Mid-America Apartment Communities by 40.9% in the third quarter. Quarry LP now owns 410 shares of the real estate investment trust’s stock valued at $57,000 after acquiring an additional 119 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Mid-America Apartment Communities during the 3rd quarter valued at approximately $60,000. 93.60% of the stock is owned by institutional investors.

Mid-America Apartment Communities Company Profile

Mid-America Apartment Communities, Inc (NYSE: MAA) is a publicly traded real estate investment trust (REIT) specializing in the acquisition, development, redevelopment and operation of multifamily residential properties. The company focuses on high-barrier-to-entry apartment communities, offering a mix of one-, two- and three-bedroom homes designed to meet the needs of diverse renter demographics. Its integrated business model encompasses property management, leasing, maintenance and customer service, providing residents with a comprehensive living experience under one ownership platform.

MAA’s portfolio comprises more than 100 communities and over 40,000 apartment homes across key Sun Belt markets.