Mid-America Apartment Communities (NYSE:MAA) Announces Earnings Results, Misses Estimates By $1.20 EPS

Mid-America Apartment Communities (NYSE:MAA) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20), Zacks reports. The business had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a return on equity of 8.34% and a net margin of 23.84%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.29 EPS.

Mid-America Apartment Communities Trading Down 1.4 %

MAA stock traded down $2.17 during mid-day trading on Friday, hitting $149.17. 1,027,700 shares of the company 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 capitalization of $17.43 billion, a P/E ratio of 33.67, a PEG ratio of 2.45 and a beta of 0.88. The business has a fifty day simple moving average of $158.10 and a 200-day simple moving average of $145.93. Mid-America Apartment Communities has a 12-month low of $118.68 and a 12-month high of $167.39.

Mid-America Apartment Communities Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio (DPR) is presently 132.73%.

Wall Street Analysts Forecast Growth

MAA has been the topic of a number of research analyst reports. Piper Sandler lifted 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. Truist Financial boosted their target price on shares of Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Raymond James raised shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft boosted their price objective on Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, BNP Paribas started coverage on Mid-America Apartment Communities in a research report on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Mid-America Apartment Communities currently has a consensus rating of “Moderate Buy” and a consensus target price 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.