Mid-America Apartment Communities (NYSE:MAA) Updates FY 2021 Earnings Guidance

Mid-America Apartment Communities (NYSE:MAA) issued an update on its FY 2021 earnings guidance on Monday morning. The company provided earnings per share guidance of $6.650-$6.850 for the period. The company issued revenue guidance of -.Mid-America Apartment Communities also updated its Q3 2021 guidance to $1.620-$1.740 EPS.

Shares of Mid-America Apartment Communities stock opened at $191.58 on Wednesday. The business’s fifty day simple moving average is $188.52 and its 200 day simple moving average is $166.85. The firm has a market capitalization of $22.02 billion, a P/E ratio of 54.43, a price-to-earnings-growth ratio of 13.89 and a beta of 0.67. Mid-America Apartment Communities has a 12 month low of $110.53 and a 12 month high of $197.50. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.74.

Mid-America Apartment Communities (NYSE:MAA) last released its earnings results on Tuesday, July 27th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.64 by ($0.94). Mid-America Apartment Communities had a return on equity of 6.66% and a net margin of 23.81%. Analysts predict that Mid-America Apartment Communities will post 6.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 15th will be paid a dividend of $1.0625 per share. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $4.25 annualized dividend and a yield of 2.22%. This is a positive change from Mid-America Apartment Communities’s previous quarterly dividend of $1.03. Mid-America Apartment Communities’s payout ratio is 63.76%.

A number of research firms have recently weighed in on MAA. Truist Securities boosted their target price on Mid-America Apartment Communities from $178.00 to $198.00 and gave the company a buy rating in a research note on Wednesday, August 25th. BMO Capital Markets downgraded Mid-America Apartment Communities from an outperform rating to a market perform rating and upped their price target for the stock from $147.00 to $170.00 in a research note on Tuesday, June 1st. Royal Bank of Canada increased their price target on Mid-America Apartment Communities from $180.00 to $196.00 and gave the company a sector perform rating in a report on Friday, July 30th. Raymond James raised their target price on Mid-America Apartment Communities from $175.00 to $205.00 and gave the stock an outperform rating in a report on Monday, July 19th. Finally, BTIG Research upgraded Mid-America Apartment Communities from a neutral rating to a buy rating and set a $218.00 price target for the company in a research note on Monday. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Buy and an average price target of $170.93.

In other Mid-America Apartment Communities news, Director David P. Stockert sold 3,500 shares of the stock in a transaction that occurred on Friday, September 3rd. The shares were sold at an average price of $195.00, for a total transaction of $682,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.39% of the company’s stock.

A hedge fund recently raised its stake in Mid-America Apartment Communities stock. Morgan Stanley grew its position in Mid-America Apartment Communities, Inc. (NYSE:MAA) by 162.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 430,122 shares of the real estate investment trust’s stock after acquiring an additional 265,978 shares during the period. Morgan Stanley owned about 0.37% of Mid-America Apartment Communities worth $72,441,000 at the end of the most recent quarter. Institutional investors and hedge funds own 90.52% of the company’s stock.

About Mid-America Apartment Communities

Mid-America Apartment Communities, Inc is a real estate investment trust. The firm engages in the operation, acquisition and development of apartment communities. It operates through the following segments: Same Store Communities and Non-Same Store and Other. The Same Store Communities segment focuses on communities that the company has owned.

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Earnings History and Estimates for Mid-America Apartment Communities (NYSE:MAA)

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