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

Mid-America Apartment Communities (NYSE:MAA) issued its earnings results on Thursday. The real estate investment trust reported $1.22 earnings per share 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 during the quarter, compared to the consensus estimate of $541.44 million. During the same quarter in the previous year, the firm posted $2.28 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year.

Mid-America Apartment Communities Stock Performance

MAA stock traded up $1.32 during mid-day trading on Friday, hitting $133.00. The company had a trading volume of 1,071,007 shares, compared to its average volume of 832,463. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.09 and a current ratio of 0.12. The firm has a market cap of $15.53 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 3.38 and a beta of 0.80. Mid-America Apartment Communities has a 12 month low of $115.56 and a 12 month high of $158.46. The stock’s fifty day moving average price is $129.46 and its two-hundred day moving average price is $128.55.

Mid-America Apartment Communities Dividend Announcement

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

Insider Activity

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, the chief executive officer now owns 317,737 shares of the company’s stock, valued at approximately $40,057,103.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 2,807 shares of company stock valued at $353,955 in the last three months. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on MAA shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $149.00 price objective on shares of Mid-America Apartment Communities in a research note on Thursday, February 22nd. Scotiabank upgraded shares of Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and upped their price objective for the company from $133.00 to $147.00 in a report on Tuesday, January 16th. Truist Financial reduced their target price 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. Mizuho dropped their price target 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. Finally, Piper Sandler reiterated a “neutral” rating and issued a $140.00 price target on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $143.06.

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.