Stock analysts make predictions for Mid-America Apartment Communities, Inc.’s earnings. in the second quarter of 2024 (NYSE:MAA)

Mid-America Apartment Communities, Inc. (NYSE:MAA – Free Report) – Wedbush cut second-quarter 2024 earnings per share estimates for shares of Mid-America Apartment Communities in a report issued on Monday, May 6. Wedbush analyst R. Anderson now expects the real estate investment trust to post earnings per share of $2.19 this quarter, down from their previous forecast of $2.24. Wedbush has an Outperform rating and a $154.00 price target on the stock. The consensus estimate for Mid-America Apartment Communities’ current full-year earnings is $8.91 per share. Wedbush also released estimates for Mid-America Apartment Communities’ fiscal 2024 earnings of $8.77 per share and fiscal 2025 earnings of $9.12 per share.

MAA has been the subject of a number of other reports. Piper Sandler reiterated a “neutral” rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research note on Tuesday, March 26. Deutsche Bank Aktiengesellschaft began reporting on apartment communities in Central America in a report on Tuesday, January 30. They issued a hold rating and a $139.00 price target on the stock. Truist Financial lowered their price objective on Mid-America Apartment Communities from $152.00 to $148.00 and set a “buy” rating on the company in a research note on Tuesday, April 9. Mizuho lowered their price target on shares of Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating for the company in a report on Wednesday, February 28. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Mid-America Apartment Communities currently has a consensus rating of ‘Hold’ and an average price target of $144.18.

Read our latest report on apartment communities in Central America

Central American Apartment Communities Rise 2.9%

NYSE MAA opened at $136.88 on Tuesday. The company’s 50-day simple moving average is $129.72 and its two-hundred-day simple moving average is $128.53. Mid-America Apartment Communities has a one-year low of $115.56 and a one-year high of $158.46. The company has a market cap of $15.99 billion, a price-to-earnings ratio of 28.70, a price-to-earnings growth ratio of 3.41, and a beta of 0.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.12 and a current ratio of 0.12.

Mid-America Apartment Communities (NYSE:MAA – Get Free Report) last reported its quarterly results on Thursday, May 2. The real estate investment trust reported $1.22 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($1.01). 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 expectations of $541.44 million. During the same quarter of the previous year, the company posted earnings per share of $2.28. The company’s quarterly revenue rose 2.8% year over year.

Dividend announcement from apartment communities in Central America

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30. Well-known shareholders received a $1.47 dividend on Monday, April 15. This represents a dividend of $5.88 annually and a dividend yield of 4.30%. The ex-dividend date of this dividend was Friday, April 12. Mid-America Apartment Communities’ dividend payout ratio currently stands at 123.27%.

Buying and selling with insider information

In other Mid-America Apartment Communities news, CEO H sold Eric Bolton, Jr. on Friday, April 5, 2,642 shares of Mid-America Apartment Communities stock in a transaction. The shares sold at an average price of $126.07, for a total value of $333,076.94. Following the completion of the transaction, the CEO now owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed via this link. In the last three months, insiders have sold 2,807 shares of the company’s stock, valued at $353,955. Corporate insiders own 1.30% of the company’s shares.

Institutional trading in apartment communities in Central America

Several institutional investors have recently bought and sold shares of the company. Nordea Investment Management AB grew its stake in Mid-America Apartment Communities by 9.2% in the fourth quarter. Nordea Investment Management AB now owns 155,151 shares of the real estate investment trust worth $21,020,000 after acquiring an additional 13,045 shares in the last quarter. Columbus Macro LLC bought a new stake in Mid-America Apartment Communities in the fourth quarter valued at approximately $1,280,000. Sunesis Advisors LLC increased its position in shares of Mid-America Apartment Communities by 393.1% in the fourth quarter. Sunesis Advisors LLC now owns 22,842 shares of the real estate investment trust valued at $3,071,000 after acquiring an additional 18,210 shares in the last quarter. abrdn plc increased its position in shares of Mid-America Apartment Communities by 25.4% in the fourth quarter. abrdn plc now owns 85,542 shares of the real estate investment trust valued at $11,502,000 after acquiring an additional 17,339 shares in the last quarter. Finally, Wealth Alliance acquired a new stake in shares of Mid-America Apartment Communities in the fourth quarter worth approximately $235,000. 93.60% of the shares are held by institutional investors and hedge funds.

About apartment communities in Central America

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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 high-quality apartment communities primarily in the Southeast, Southwest, and Mid-Atlantic regions of the United States.

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