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

Mid-America Apartment Communities (NYSE:MAA - Get Free Report) issued its quarterly earnings results on Thursday. The real estate investment trust reported $1.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($1.01), Zacks reports. Mid-America Apartment Communities had a net margin of 25.92% and a return on equity of 8.90%. The company had revenue of $543.60 million for the quarter, compared to analyst estimates of $541.44 million. During the same quarter in the previous year, the company posted $2.28 EPS. The company's revenue for the quarter was up 2.8% compared to the same quarter last year.

Mid-America Apartment Communities Price Performance

Shares of NYSE:MAA traded up $1.32 during midday trading on Friday, reaching $133.00. 1,071,007 shares of the company's stock traded hands, compared to its average volume of 832,463. The company has a fifty day simple moving average of $129.46 and a two-hundred day simple moving average of $128.55. Mid-America Apartment Communities has a 1 year low of $115.56 and a 1 year high of $158.46. The company has a market cap of $15.53 billion, a P/E ratio of 27.88, a PEG ratio of 3.38 and a beta of 0.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.09 and a current ratio of 0.12.

Mid-America Apartment Communities Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were paid a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 4.42%. The ex-dividend date was Friday, April 12th. Mid-America Apartment Communities's payout ratio is 123.27%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MAA shares. Truist Financial cut their target price on Mid-America Apartment Communities from $152.00 to $148.00 and set a "buy" rating on the stock in a research report on Tuesday, April 9th. Scotiabank upgraded Mid-America Apartment Communities from a "sector underperform" rating to a "sector perform" rating and raised their price objective for the stock from $133.00 to $147.00 in a research note on Tuesday, January 16th. The Goldman Sachs Group reiterated a "buy" rating and issued a $149.00 target price on shares of Mid-America Apartment Communities in a research report on Thursday, February 22nd. Piper Sandler restated a "neutral" rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Mid-America Apartment Communities in a research note on Tuesday, January 30th. They issued a "hold" rating and a $139.00 price objective on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $143.06.

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 dated Friday, April 5th. The stock was sold at an average price of $126.07, for a total value of $333,076.94. Following the sale, 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 legal filing with the SEC, which is available at this link. In the last quarter, insiders sold 2,807 shares of company stock valued at $353,955. 1.30% of the stock is owned by corporate insiders.

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.