Mid-America Apartment Communities (NYSE:MAA) Releases Q4 2024 Earnings Guidance

Mid-America Apartment Communities (NYSE:MAA) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.150-2.310 for the period, compared to the consensus estimate of 2.260. The company issued revenue guidance of -. Mid-America Apartment Communities also updated its FY 2024 guidance to 8.800-9.020 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MAA. Wedbush upped their target price on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Bank of America upgraded Mid-America Apartment Communities from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $144.00 to $189.00 in a research note on Monday, August 12th. JMP Securities boosted their price target on shares of 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. BNP Paribas assumed coverage on shares of Mid-America Apartment Communities in a research note on Wednesday, September 11th. They set a “neutral” rating and a $169.00 target price for the company. Finally, UBS Group raised their price target on Mid-America Apartment Communities from $131.00 to $140.00 and gave the company a “sell” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Mid-America Apartment Communities has a consensus rating of “Moderate Buy” and a consensus price target of $161.69.

Mid-America Apartment Communities Stock Performance

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

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

Mid-America Apartment Communities Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were given 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 yield of 3.94%. Mid-America Apartment Communities’s payout ratio is currently 132.73%.

Mid-America Apartment Communities Company Profile

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.