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 guidance of 2.150-2.310 for the period, compared to the consensus earnings per share 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 Price Performance

MAA stock traded down $2.17 on Friday, reaching $149.17. The company had a trading volume of 1,027,700 shares, compared to its average volume of 755,354. The company’s fifty day moving average is $158.10 and its 200 day moving average is $145.93. The company has a market cap of $17.43 billion, a P/E 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 has a 1 year low of $118.68 and a 1 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 (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.20). The company had revenue of $551.13 million during the quarter, compared to analysts’ expectations of $548.53 million. Mid-America Apartment Communities had a net margin of 23.84% and a return on equity of 8.34%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.29 earnings per share. On average, research analysts forecast that Mid-America Apartment Communities will post 8.88 earnings per share for the current year.

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. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Tuesday, October 15th. Mid-America Apartment Communities’s dividend payout ratio is currently 132.73%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MAA. Truist Financial raised their price target on Mid-America Apartment Communities from $156.00 to $167.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Royal Bank of Canada dropped their price target on shares of Mid-America Apartment Communities from $169.00 to $165.00 and set a “sector perform” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Mid-America Apartment Communities from $139.00 to $163.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Scotiabank increased their target price 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. Finally, Raymond James upgraded Mid-America Apartment Communities from a “market perform” rating to a “strong-buy” rating and set a $175.00 price target for the company in a research note on Monday, October 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Mid-America Apartment Communities currently has an average rating of “Moderate Buy” and a consensus target price of $161.69.

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.