Mid-America Apartment Communities (NYSE:MAA) Updates FY 2024 Earnings Guidance

Mid-America Apartment Communities (NYSE:MAA) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 8.800-9.020 for the period, compared to the consensus estimate of 8.880. The company issued revenue guidance of -. Mid-America Apartment Communities also updated its FY24 guidance to $8.80-8.96 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MAA. JMP Securities upped their target price on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Friday, August 2nd. Wedbush upped their target price on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Raymond James upgraded shares of Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price on the stock in a research report on Monday, October 21st. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and upped their target price for the stock from $144.00 to $189.00 in a research report on Monday, August 12th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. One equities research 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. Based on data from MarketBeat.com, Mid-America Apartment Communities has an average rating of “Moderate Buy” and a consensus target price of $160.75.

Mid-America Apartment Communities Trading Up 0.9 %

MAA traded up $1.32 during mid-day trading on Wednesday, hitting $152.29. The stock had a trading volume of 690,431 shares, compared to its average volume of 749,310. The stock’s fifty day simple moving average is $158.32 and its 200-day simple moving average is $145.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market capitalization of $17.79 billion, a price-to-earnings ratio of 31.90, a price-to-earnings-growth ratio of 2.48 and a beta of 0.88. Mid-America Apartment Communities has a 1-year low of $115.56 and a 1-year high of $167.39.

Mid-America Apartment Communities Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is 123.27%.

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.