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

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) announced its quarterly 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 8.38%. The firm had revenue of $551.13 million during the quarter, compared to analysts' expectations of $548.53 million. During the same quarter in the prior year, the business earned $2.29 EPS. The company's quarterly revenue was up 1.7% compared to the same quarter last year.

Mid-America Apartment Communities Trading Down 1.4 %

Shares of MAA traded down $2.17 during mid-day trading on Friday, reaching $149.17. The company had a trading volume of 1,027,700 shares, compared to its average volume of 578,456. Mid-America Apartment Communities has a fifty-two week low of $118.68 and a fifty-two week high of $167.39. The firm has a fifty day simple moving average of $158.10 and a 200-day simple moving average of $145.93. 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 2.44 and a beta of 0.88. The company has a current ratio of 0.09, a quick ratio of 0.12 and a debt-to-equity ratio of 0.80.

Mid-America Apartment Communities Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group started coverage on shares of Mid-America Apartment Communities in a research report on Wednesday, September 4th. They set a "buy" rating and a $187.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on 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. Wells Fargo & Company upgraded Mid-America Apartment Communities from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $138.00 to $174.00 in a report on Monday, August 26th. JMP Securities raised their price target 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. Finally, Wedbush upped their price objective on 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Mid-America Apartment Communities currently has an average rating of "Moderate Buy" and an average target price of $161.69.

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.