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

Mid-America Apartment Communities (NYSE:MAA) issued its 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. Mid-America Apartment Communities had a return on equity of 8.34% and a net margin of 23.84%. The firm had revenue of $551.13 million for the quarter, compared to analysts’ expectations of $548.53 million. During the same quarter in the previous year, the firm posted $2.29 EPS. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year.

Mid-America Apartment Communities Stock Performance

NYSE:MAA traded down $2.17 during midday trading on Friday, reaching $149.17. 1,027,700 shares of the company traded hands, compared to its average volume of 755,354. Mid-America Apartment Communities has a twelve month low of $118.68 and a twelve month high of $167.39. 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 company has a fifty day moving average price of $158.10 and a 200 day moving average price of $145.93. The firm has a market capitalization 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.

Mid-America Apartment Communities Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MAA. Bank of America upgraded shares of Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their target price for the company from $144.00 to $189.00 in a report on Monday, August 12th. Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 target price for the company in a research report on Monday, October 21st. BNP Paribas initiated coverage on Mid-America Apartment Communities in a report on Wednesday, September 11th. They set a “neutral” rating and a $169.00 target price on the stock. Wedbush upped their target price on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, JMP Securities lifted their price target on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.