Mid-America Apartment Communities, Inc. (NYSE:MAA) to Post Q1 2024 Earnings of $2.20 Per Share, Wedbush Forecasts

Mid-America Apartment Communities, Inc. (NYSE:MAA - Free Report) - Wedbush reduced their Q1 2024 earnings estimates for shares of Mid-America Apartment Communities in a note issued to investors on Monday, April 8th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $2.20 per share for the quarter, down from their prior forecast of $2.24. The consensus estimate for Mid-America Apartment Communities' current full-year earnings is $8.92 per share. Wedbush also issued estimates for Mid-America Apartment Communities' Q2 2024 earnings at $2.24 EPS, Q3 2024 earnings at $2.27 EPS, Q4 2024 earnings at $2.25 EPS, FY2024 earnings at $8.96 EPS and FY2025 earnings at $9.27 EPS.

A number of other research firms have also weighed in on MAA. Piper Sandler restated a "neutral" rating and issued a $140.00 target price on shares of Mid-America Apartment Communities in a report on Tuesday, March 26th. Mizuho lowered their target price on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a "neutral" rating on the stock in a report on Wednesday, February 28th. Truist Financial lowered their target price on shares of Mid-America Apartment Communities from $152.00 to $148.00 and set a "buy" rating on the stock in a report on Tuesday. The Goldman Sachs Group restated a "buy" rating and issued a $149.00 target price on shares of Mid-America Apartment Communities in a report on Thursday, February 22nd. Finally, Jefferies Financial Group restated a "hold" rating and issued a $136.00 target price (down previously from $140.00) on shares of Mid-America Apartment Communities in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $143.18.

Mid-America Apartment Communities Stock Down 1.8 %

Shares of MAA stock traded down $2.37 on Wednesday, reaching $133.01. 801,353 shares of the company were exchanged, compared to its average volume of 905,665. The company has a market cap of $15.52 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 2.98 and a beta of 0.80. The company has a 50-day moving average of $128.67 and a 200-day moving average of $128.72. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities has a one year low of $115.56 and a one year high of $158.46.

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) last released its quarterly earnings data on Thursday, February 8th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.93). The company had revenue of $542.25 million for the quarter, compared to the consensus estimate of $542.64 million. Mid-America Apartment Communities had a return on equity of 8.74% and a net margin of 25.73%. Mid-America Apartment Communities's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $2.32 EPS.

Mid-America Apartment Communities Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a $1.47 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.42%. Mid-America Apartment Communities's dividend payout ratio (DPR) is presently 124.84%.

Insider Buying and Selling

In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the transaction, the chief executive officer now directly owns 317,737 shares in the company, valued at approximately $40,057,103.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO H Eric Bolton, Jr. sold 4,028 shares of Mid-America Apartment Communities stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $130.21, for a total transaction of $524,485.88. Following the completion of the transaction, the chief executive officer now owns 304,523 shares of the company's stock, valued at $39,651,939.83. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,835 shares of company stock valued at $878,441. 1.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB grew its position in shares of Mid-America Apartment Communities by 9.2% during the 4th quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust's stock valued at $21,020,000 after purchasing an additional 13,045 shares in the last quarter. Columbus Macro LLC purchased a new position in shares of Mid-America Apartment Communities during the 4th quarter valued at $1,280,000. Sunesis Advisors LLC grew its position in shares of Mid-America Apartment Communities by 393.1% during the 4th quarter. Sunesis Advisors LLC now owns 22,842 shares of the real estate investment trust's stock valued at $3,071,000 after purchasing an additional 18,210 shares in the last quarter. Covestor Ltd grew its position in shares of Mid-America Apartment Communities by 71.9% during the 3rd quarter. Covestor Ltd now owns 667 shares of the real estate investment trust's stock valued at $86,000 after purchasing an additional 279 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Mid-America Apartment Communities by 77.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 219,562 shares of the real estate investment trust's stock valued at $29,522,000 after purchasing an additional 95,552 shares in the last quarter. 93.60% of the stock is currently owned by hedge funds and other institutional investors.

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.