Mid-America Apartment Communities (NYSE:MAA) Releases Quarterly Earnings Results, Misses Expectations By $1.20 EPS

Mid-America Apartment Communities (NYSE:MAA) issued its quarterly earnings data on Wednesday. The real estate investment trust reported $0.98 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.20), Zacks reports. Mid-America Apartment Communities had a return on equity of 8.34% and a net margin of 23.84%. The firm had revenue of $551.13 million during the quarter, compared to the consensus estimate of $548.53 million. During the same period in the previous year, the firm earned $2.29 EPS. The business’s revenue was up 1.7% on a year-over-year basis.

Mid-America Apartment Communities Price Performance

Shares of Mid-America Apartment Communities stock traded down $2.17 during trading hours on Friday, hitting $149.17. The company’s stock had a trading volume of 1,027,700 shares, compared to its average volume of 755,354. The business has a 50 day moving average price of $158.10 and a two-hundred day moving average price of $145.93. Mid-America Apartment Communities has a 12-month low of $118.68 and a 12-month high of $167.39. The company has a market cap of $17.43 billion, a PE ratio of 33.67, a PEG ratio of 2.45 and a beta of 0.88. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12.

Mid-America Apartment Communities Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Scotiabank lifted their price objective on 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. Wedbush lifted their price objective on Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Piper Sandler lifted their price objective on Mid-America Apartment Communities from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, August 26th. Royal Bank of Canada cut their price objective on Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a report on Friday. Finally, JMP Securities lifted their price objective on Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.69.

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.