Mid-America Apartment Communities (NYSE:MAA) Issues Quarterly Earnings Results

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

Mid-America Apartment Communities Price Performance

Mid-America Apartment Communities stock traded down $2.17 during mid-day trading on Friday, hitting $149.17. 1,027,700 shares of the company traded hands, compared to its average volume of 755,354. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. Mid-America Apartment Communities has a one year low of $118.68 and a one year high of $167.39. The stock has a market cap of $17.43 billion, a price-to-earnings ratio of 33.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.88. The stock has a fifty day moving average price of $158.10 and a 200-day moving average price of $145.93.

Mid-America Apartment Communities Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on MAA shares. JMP Securities raised their target price on 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. Deutsche Bank Aktiengesellschaft boosted their price objective on Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. BNP Paribas began coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They issued a “neutral” rating and a $169.00 target price for the company. Wedbush boosted their price target on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, Piper Sandler lifted their price objective 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. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.