Mid-America Apartment Communities (NYSE:MAA) Updates 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.

Mid-America Apartment Communities Trading Down 1.4 %

MAA traded down $2.17 during midday trading on Friday, reaching $149.17. 1,027,700 shares of the company were exchanged, compared to its average volume of 755,354. The stock has a market capitalization of $17.43 billion, a P/E ratio of 33.67, a PEG ratio of 2.45 and a beta of 0.88. The stock’s 50-day simple moving average is $158.10 and its 200 day simple moving average is $145.93. 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 has a one year low of $118.68 and a one year high of $167.39.

Mid-America Apartment Communities (NYSE:MAA) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.98 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.20). The business had revenue of $551.13 million for the quarter, compared to the consensus estimate of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.34%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.29 EPS. As a group, analysts forecast that Mid-America Apartment Communities will post 8.88 earnings per share 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. Investors of record on Tuesday, October 15th were paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s payout ratio is presently 132.73%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MAA shares. Scotiabank upped their price objective on Mid-America Apartment Communities from $161.00 to $174.00 and gave the stock a “sector perform” rating in a research report on Monday, September 16th. Wells Fargo & Company raised Mid-America Apartment Communities from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $138.00 to $174.00 in a research report on Monday, August 26th. Wedbush lifted their price objective on shares of Mid-America Apartment Communities from $154.00 to $184.00 and gave the company an “outperform” rating in a report on Monday, August 5th. UBS Group lifted their price target on shares of 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. Finally, JMP Securities increased their price objective on shares of Mid-America Apartment Communities from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average 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.