MAA, an S&P 500 company, is a real estate investment trust, or REIT, focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States. As of December 31, 2020, MAA had ownership interest in 102,772 apartment units, including communities currently in development, across 16 states and the District of Columbia.
Mid-America Apartment Communities Stock Up 0.5 %
Shares of NYSE:MAA opened at $188.66 on Tuesday. Mid-America Apartment Communities has a one year low of $158.85 and a one year high of $231.63. The company has a 50 day moving average of $173.07 and a 200-day moving average of $190.73. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.39 and a quick ratio of 0.39. The stock has a market cap of $21.78 billion, a price-to-earnings ratio of 36.99, a P/E/G ratio of 11.38 and a beta of 0.73.
Mid-America Apartment Communities (NYSE:MAA - Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The real estate investment trust reported $1.82 EPS for the quarter, missing the consensus estimate of $2.00 by ($0.18). Mid-America Apartment Communities had a return on equity of 10.01% and a net margin of 31.30%. The business had revenue of $495.04 million for the quarter, compared to analyst estimates of $488.64 million. During the same quarter in the prior year, the firm earned $1.69 EPS. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Mid-America Apartment Communities will post 8.25 earnings per share for the current year.
Mid-America Apartment Communities Dividend Announcement
The company also recently disclosed a dividend, which was paid on Monday, July 25th. Investors of record on Friday, July 15th were issued a dividend of $1.25 per share. This represents a yield of 2.85%. The ex-dividend date was Thursday, July 14th. Mid-America Apartment Communities's dividend payout ratio is currently 98.04%.
Wall Street Analyst Weigh In
MAA has been the subject of several analyst reports. Piper Sandler cut their price target on shares of Mid-America Apartment Communities from $200.00 to $195.00 and set an "overweight" rating for the company in a report on Wednesday, July 20th. Truist Financial cut their price target on shares of Mid-America Apartment Communities from $205.00 to $188.00 and set a "buy" rating for the company in a report on Friday, June 24th. Credit Suisse Group initiated coverage on shares of Mid-America Apartment Communities in a report on Wednesday, June 22nd. They set an "outperform" rating and a $195.00 price target for the company. Mizuho cut their price target on shares of Mid-America Apartment Communities from $221.00 to $178.00 and set a "neutral" rating for the company in a report on Monday, June 27th. Finally, JMP Securities raised shares of Mid-America Apartment Communities from a "market perform" rating to an "outperform" rating and set a $220.00 price target for the company in a report on Friday, July 29th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $207.07.
Insider Activity at Mid-America Apartment Communities
In related news, EVP Melanie Carpenter sold 1,355 shares of the business's stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $186.27, for a total transaction of $252,395.85. Following the completion of the transaction, the executive vice president now owns 17,953 shares in the company, valued at $3,344,105.31. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.34% of the company's stock.