Mid-America Apartment Communities (NYSE:MAA) Issues FY 2024 Earnings Guidance

Mid-America Apartment Communities (NYSE:MAA) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 8.800-9.020 for the period, compared to the consensus EPS estimate of 8.880. The company issued revenue guidance of -. Mid-America Apartment Communities also updated its FY24 guidance to $8.80-8.96 EPS.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MAA. Wedbush boosted their price target on Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Piper Sandler upped their price target on shares of Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Royal Bank of Canada decreased their price objective on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating on the stock in a research report on Friday. Scotiabank upped their target price on shares of Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Finally, Raymond James raised Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target on the stock in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Mid-America Apartment Communities currently has an average rating of “Moderate Buy” and an average target price of $161.69.

Mid-America Apartment Communities Trading Down 1.4 %

NYSE:MAA traded down $2.17 during midday trading on Friday, hitting $149.17. The stock had a trading volume of 1,027,700 shares, compared to its average volume of 755,354. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $158.10 and a 200 day moving average of $145.93. The company has a market capitalization of $17.43 billion, a price-to-earnings ratio of 33.67, a PEG ratio of 2.45 and a beta of 0.88. Mid-America Apartment Communities has a one year low of $118.68 and a one year high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last issued its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.20). Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.34%. The company had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. During the same period in the previous year, the business earned $2.29 EPS. Mid-America Apartment Communities’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Mid-America Apartment Communities will post 8.88 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $5.88 annualized dividend and a dividend yield of 3.94%. Mid-America Apartment Communities’s dividend payout ratio (DPR) is currently 132.73%.

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.