Mid-America Apartment Communities (NYSE:MAA) Updates Q2 2021 Earnings Guidance

Mid-America Apartment Communities (NYSE:MAA) issued an update on its second quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.530-1.690 for the period. The company issued revenue guidance of -.Mid-America Apartment Communities also updated its FY 2021 guidance to $6.350-6.650 EPS.

Shares of NYSE:MAA traded up $2.84 during trading on Thursday, hitting $171.53. The company’s stock had a trading volume of 445,368 shares, compared to its average volume of 655,309. The firm’s 50 day simple moving average is $155.77. The stock has a market cap of $19.64 billion, a P/E ratio of 74.90, a PEG ratio of 12.69 and a beta of 0.66. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.09 and a quick ratio of 0.09. Mid-America Apartment Communities has a fifty-two week low of $108.06 and a fifty-two week high of $172.33.

Mid-America Apartment Communities (NYSE:MAA) last posted its quarterly earnings results on Tuesday, April 27th. The real estate investment trust reported $0.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($1.21). The business had revenue of $425.01 million during the quarter, compared to analyst estimates of $423.65 million. Mid-America Apartment Communities had a return on equity of 4.33% and a net margin of 15.76%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 EPS. On average, equities analysts predict that Mid-America Apartment Communities will post 6.54 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Stockholders of record on Thursday, July 15th will be given a dividend of $1.025 per share. The ex-dividend date of this dividend is Wednesday, July 14th. This represents a $4.10 annualized dividend and a dividend yield of 2.39%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 63.76%.

Several research firms have recently issued reports on MAA. Truist Securities raised shares of Mid-America Apartment Communities from a hold rating to a buy rating and lifted their price objective for the stock from $151.00 to $178.00 in a research report on Friday, June 4th. BMO Capital Markets cut shares of Mid-America Apartment Communities from an outperform rating to a market perform rating and lifted their price objective for the stock from $147.00 to $170.00 in a research report on Tuesday, June 1st. Mizuho lifted their price objective on shares of Mid-America Apartment Communities from $128.00 to $143.00 and gave the stock a neutral rating in a research report on Monday, March 15th. Raymond James lifted their price objective on shares of Mid-America Apartment Communities from $145.00 to $175.00 and gave the stock an outperform rating in a research report on Tuesday, May 11th. Finally, Royal Bank of Canada assumed coverage on shares of Mid-America Apartment Communities in a research report on Tuesday, March 30th. They issued a sector perform rating and a $146.00 price target for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $149.08.

In other news, EVP Melanie Carpenter sold 677 shares of the company’s stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $146.44, for a total value of $99,139.88. Following the completion of the sale, the executive vice president now directly owns 18,306 shares of the company’s stock, valued at $2,680,730.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Albert M. Campbell III sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 1st. The shares were sold at an average price of $160.33, for a total transaction of $1,603,300.00. Following the completion of the sale, the chief financial officer now directly owns 62,396 shares of the company’s stock, valued at $10,003,950.68. The disclosure for this sale can be found here. Insiders sold 41,671 shares of company stock valued at $6,415,840 over the last ninety days. Corporate insiders own 1.39% of the company’s stock.

About Mid-America Apartment Communities

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.

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Earnings History and Estimates for Mid-America Apartment Communities (NYSE:MAA)

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